Luckin-Coffee-瑞幸咖啡-2019年第三季度财报

1/14LuckinCoffeeInc.AnnouncesUnauditedThirdQuarter2019FinancialResultsNetRevenuesfromProductsofRMB1.5Billion,ExceedingHighEndofGuidanceRangeStoreLevelOperatingProfitMarginof12.5%fortheQuarterBEIJING,China,November13,2019(GLOBENEWSWIRE)–LuckinCoffeeInc.(“LuckinCoffee”orthe“Company”)(NASDAQ:LK),apioneerofatechnology-drivennewretailmodeltoprovidecoffeeandotherproductsofhighquality,highaffordability,andhighconveniencetocustomers,todayannounceditsunauditedfinancialresultsforthethirdquarterendedSeptember30,2019.THIRDQUARTER2019HIGHLIGHTS1TotalnetrevenuesfromproductsinthequarterwereRMB1,493.2million(US$208.9million),representinganincreaseof557.6%fromRMB227.1millioninthesamequarterof2018.Averagemonthlytotalitemssoldinthequarterwere44.2million,representinganincreaseof470.1%from7.8millioninthethirdquarterof2018.Cumulativenumberoftransactingcustomersincreasedto30.7million,representinganincreaseof413.4%from6.0millionasoftheendofthethirdquarterof2018.Duringthethirdquarterof2019,theCompanyacquired7.9millionnewtransactingcustomers.Averagemonthlytransactingcustomersinthequarterwere9.3million,representinganincreaseof397.5%from1.9millioninthethirdquarterof2018.Totalnumberofstoresattheendofthequarterwere3,680stores,representinganincreaseof209.5%from1,189storesattheendofthethirdquarterof2018.AveragetotalnetrevenuesfromproductsperstoreinthequarterwereRMB449.6thousand(US$62.9thousand),representinganincreaseof79.5%fromRMB250.5thousandinthesamequarterof2018.StoreleveloperatingprofitinthequarterwasRMB186.3million(US$26.1million),or12.5%ofnetrevenuesfromproducts,comparedtoalossofRMB126.0millioninthethirdquarterof2018.1Pleaserefertothesection“KEYDEFINITIONS”onPage5fordetaileddefinitions.2/14“Weareverypleasedwithourresultsinthethirdquarter.Weexceededthehigh-endofourguidancerange,achievedastorelevelprofitmarginof12.5%andexperiencedcontinuousgrowthacrossallkeyoperatingmetrics.Theseachievementsfollowacleartrend:anincreaseinvolumes,efficiencyand,asaresult,profitability.Duringthequarter,productrevenuegrewat557.6%,whichwas1.2x,1.4xand2.7xthegrowthrateofaveragemonthlyitemssold,averagemonthlytransactingcustomers,andnumberofstores,respectively,”saidMs.JennyZhiyaQian,ChiefExecutiveOfficerofLuckinCoffee.“Duringthethirdquarter,salesfromfreshly-brewedcoffeedrinkscontinuedtomaintainverystronggrowth,andwebelievewewillreachourgoaltobecomethelargestcoffeeplayerinChinabytheendofthisyear.Withourdistinguishedvaluepropositionofhighquality,highaffordabilityandhighconveniencewebelievethatLuckinCoffeehasbecomepartofmoreandmoreChineseconsumers’dailylives.China’scoffeemarketremainshighlyunderpenetratedsoweareveryexcitedaboutthegrowthpotentialaheadofus,”saidMs.Qian.Ms.Qianadded,“Atthesametime,wecontinuedtoenrichourproductofferingsduringthequarter.WelaunchedLuckinTeaproductsnationwideinJuly2019andexperiencedstrongincrementaldemandduringthequarter,contributingtoanincreaseinperstorerevenueandhighercustomerretentionrate.WealsostartedsellingcupsandothermerchandiseproductsandenteredintoajointventureagreementwithLouisDreyfusCompanytoproduceandsellco-brandedNotFromConcentratejuiceproducts.”Ms.Qiancontinued,“WealsostrategicallylaunchedLuckinTeaasanindependentbrandanddevelopedournewretailpartnershipmodel.Inaddition,weareengagedinongoingdiscussionswithpotentialstrategicpartnerstosetupjointventuresinmarketsoutsideofChina.Weconsidertheseinitiativesasanevolutionofourcurrentbusinessmodelandarepartofourstrategytoservemorecustomers.”“Withourdisruptivetechnology-drivennewretailmodelandournewly-launchedretailpartnershipmodel,webelievewecanrapidlyexpandintoadjacentmarketswithlimitedcapitalexpenditureswhilemaintainingahighdegreeofoperationalcontrolandefficiency.Wearepleasedtohavetakenmeaningfulstepsaccomplishingourgoalsthisquarterandremainextremelyexcitedaboutthefutureofourbusiness,”concludedMs.Qian.THIRDQUARTER2019UNAUDITEDFINANCIALRESULTSTotalnetrevenueswereRMB1,541.6million(US$215.7million)inthethirdquarter,representinganincreaseof540.2%fromRMB240.8millioninthethirdquarterof2018.TotalnetrevenuesfromproductswereRMB1,493.2million(US$208.9million)inthethirdquarter,representinganincreaseof557.6%fromRMB227.1millioninthethirdquarterof2018.Netrevenuesfromproductsgrowthwasprimarilydrivenbyasignificantincreaseinthenumberoftransactingcustomers,anincreaseineffectivesellingprice,andanincreaseinthenumberofproductssoldpertransactingcustomer.NetrevenuesfromfreshlybreweddrinkswereRMB1,145.4million(US$160.2million),representing74.3%oftotalnetrevenuesinthethirdquarterof2019,comparedtoRMB192.7million,or80.0%oftotalnetrevenues,inthethirdquarterof2018.NetrevenuesfromotherproductswereRMB347.8million(US$48.7million),representing22.6%oftotalnetrevenuesinthethirdquarterof2019,comparedtoRMB34.4million,or14.3%oftotalnetrevenues,inthethirdquarterof2018.Otherrevenues,whichmainlyincludedeliveryfees,wereRMB48.4million(US$6.8million),representing3.1%oftotalnetrevenuesinthethirdquarterof2019,comparedtoRMB13.7million,or5.7%oftotalnetrevenues,inthethirdquarterof2018.3/14TotaloperatingexpenseswereRMB2,13