luckin-coffee-瑞幸咖啡-2019第二季度财报

1/13LuckinCoffeeInc.AnnouncesUnauditedSecondQuarter2019FinancialResultsNetRevenuesfromProductsIncreasedOver698PercentYear-Over-Yearwith5.9MillionNewTransactingCustomersAcquiredDuringtheQuarterCompanyApproachingStoreLevelBreak-EvenPointBEIJING,China,August14,2019(GLOBENEWSWIRE)–LuckinCoffeeInc.(“LuckinCoffee”orthe“Company”)(NASDAQ:LK),apioneerofatechnology-drivennewretailmodeltoprovidecoffeeandotherproductsofhighquality,highaffordability,andhighconveniencetocustomers,todayannounceditsunauditedfinancialresultsforthesecondquarterendedJune30,2019.SECONDQUARTER2019HIGHLIGHTS1•TotalnetrevenuesfromproductsinthequarterwereRMB870.0million(US$126.7million),representinganincreaseof698.4%fromRMB109.0millioninthesamequarterof2018.•Cumulativenumberoftransactingcustomersincreasedto22.8millionfrom2.9millionasoftheendofthesecondquarterof2018.Duringthesecondquarterof2019,theCompanyacquired5.9millionnewtransactingcustomers.•Averagemonthlytransactingcustomersinthequarterwere6.2million,representinganincreaseof410.6%from1.2millioninthesecondquarterof2018.•Averagemonthlytotalitemssoldinthequarterwere27.6million,representinganincreaseof589.7%from4.0millioninthesecondquarterof2018.•Totalnumberofstoresattheendofthequarterwere2,963stores,representinganincreaseof374.8%from624storesattheendofthesecondquarterof2018.•StoreleveloperatinglossinthequarterwasRMB55.8million(US$8.1million),decreasingfromalossofRMB81.7millioninthesecondquarterof2018.“Wearepleasedwiththeperformanceofourbusinessaswecontinuetoexecuteagainstourlong-termgrowthplan,”saidMs.JennyZhiyaQian,ChiefExecutiveOfficerofLuckinCoffee.“Totalnetrevenuesfromproductssoldincreased698.4%year-over-year,drivenbyasignificantincreaseintransactingcustomers,anincreaseinthe1Pleaserefertothesection“KEYDEFINITIONS”onPage4fordetaileddefinitions.2/13averagenumberofitemspurchasedbyourtransactingcustomersandhighereffectivesellingprices.Webelievethisistheresultofourdistinguishedvaluepropositionofdeliveringourcustomershighquality,highconvenienceandhighaffordability.”Ms.Qiancontinued,“Atthesametimewehavesubstantiallyreducedourstoreoperatinglossasapercentageofnetrevenuesasaresultofbenefitsofscaleandincreasedbargainingpower,operatingefficiencyfromtechnology,andhigherstorethroughput,andweareontracktoreachourstorelevelbreak-evenpointduringthethirdquarterof2019.”“Furthermore,weopened593netnewLuckinstoresduringthequarter,providingenhancedconveniencetoourcustomers,andstrategicallylaunchedournewfreshly-brewedteadrinks‘LuckinTea’tocapturedifferentconsumptionmomentsandbenefitfromstrongdemandforfreshly-brewedteadrinksinChina.Wealsostrengthenedoursupplychainandcontinuedtoinvestinourbrandandourtechnology.Finally,weremainontracktobecomethelargestcoffeenetworkinChinaintermsofnumberofstoresbytheendof2019,”concludedMs.Qian.SECONDQUARTER2019UNAUDITEDFINANCIALRESULTSTotalnetrevenueswereRMB909.1million(US$132.4million)inthesecondquarter,representinganincreaseof648.2%fromRMB121.5millioninthesecondquarterof2018.Netrevenuesgrowthwasprimarilydrivenbyasignificantincreaseinthenumberoftransactingcustomers,anincreaseineffectivesellingprices,andthenumberofproductssold.•NetrevenuesfromfreshlybreweddrinkswereRMB659.2million(US$96.0million),representing72.5%oftotalnetrevenuesinthesecondquarterof2019,comparedtoRMB100.5million,or82.7%oftotalnetrevenues,inthesecondquarterof2018.•NetrevenuesfromotherproductswereRMB210.8million(US$30.7million),representing23.2%oftotalnetrevenuesinthesecondquarterof2019,comparedtoRMB8.4million,or7.0%oftotalnetrevenues,inthesecondquarterof2018.•Otherrevenues,whichmainlyincludedeliveryfees,wereRMB39.1million(US$5.7million),representing4.3%oftotalnetrevenuesinthesecondquarterof2019,comparedtoRMB12.5million,or10.3%oftotalnetrevenues,inthesecondquarterof2018.TotaloperatingexpenseswereRMB1,598.8million(US$232.9million),representinganincreaseof243.9%fromRMB465.0millioninthesecondquarterof2018.Theincreaseinoperatingexpenseswasinlinewithbusinessexpansion.Meanwhile,operatingexpensesasapercentageofnetrevenuesdecreasedto175.9%inthesecondquarterof2019from382.7%inthesecondquarterof2018,mainlydrivenbyincreasedeconomiesofscaleandtheCompany’stechnology-drivenoperations.•CostofmaterialswereRMB465.8million(US$67.9million),representinganincreaseof514.8%fromRMB75.8millioninthesecondquarterof2018,inlinewiththeincreaseinsalesofproducts.•StorerentalandotheroperatingcostswereRMB371.5million(US$54.1million),representinganincreaseof271.7%fromRMB99.9millioninthesecondquarterof2018,mainlyduetoincreasesinthenumberofstoresandheadcount.3/13•DepreciationexpenseswereRMB88.5million(US$12.9million),representinganincreaseof491.0%fromRMB15.0millioninthesecondquarterof2018,mainlyduetoincreasesindepreciationofleaseholdimprovementsandpurchasesofoperatingequipment.•SalesandmarketingexpenseswereRMB390.1million(US$56.8million),representinganincreaseof119.1%fromRMB178.1millioninthesecondquarterof2018,mainlyduetoincreasesinadvertisingexpensesanddeliveryexpensesastheCompanylaunchednewmarketinginitiativesandenteredintonewcities.Furthermore,freeproduc