BEIJING - Luckin Coffee (OTC:LKNCY) reported that its non-coffee beverage sales exceeded RMB 20 billion as of May 31, according to a press release statement issued today. The milestone comes as the company posted revenue growth of 41% over the last twelve months, reaching $7.6 billion, with a gross profit margin of 62%.
The company disclosed that 22 products have each sold more than 100 million cups. The Coconut Latte recorded cumulative sales of over 2.1 billion cups, while the Orange Americano surpassed 500 million cups. The Light Jasmine Milk Tea sold more than 400 million cups, the Little Butter Latte nearly 300 million cups, and the Active Apple Kale Tea over 100 million cups.
Luckin’s global store count has exceeded 35,000 locations. According to InvestingPro analysis, the stock appears undervalued at current levels, with the platform’s Fair Value suggesting significant upside potential. The company maintains a market capitalization of $10.4 billion. The company has established sourcing operations in Brazil, Ethiopia, Indonesia, and China’s Yunnan and Guangxi provinces for ingredients including coffee beans, coconuts, jasmine flowers and navel oranges.
The company operates manufacturing facilities including a Green Coffee Bean Processing Plant in Baoshan, Yunnan province, and roasting centers in Qingdao, Kunshan, Pingnan and Xiamen.
This marks the first time Luckin has publicly released performance data for its non-coffee beverage business.
In other recent news, Luckin Coffee Inc. reported a significant 35.3% increase in first-quarter net revenues, reaching RMB12.0 billion ($1.74 billion). This growth reflects the company’s ongoing expansion, with the addition of 2,548 net new stores, bringing the total to 33,596 locations across China, Hong Kong, Singapore, Malaysia, and the U.S. The store network includes 21,807 self-operated stores and 11,789 partnership stores, marking an 8.2% growth from the previous quarter. In line with these developments, Luckin Coffee has announced a $300 million share buyback program. Additionally, the company experienced changes in its board of directors, as Feng Liu decided not to seek reappointment, citing personal reasons, although he will remain as an external strategic advisor. Meanwhile, six other directors were reappointed for successive two-year terms. These updates highlight Luckin Coffee’s strategic growth and governance adjustments.
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