Luckin Coffee Q2 2026 Net Revenue RMB15.886 Billion, Up 28.5%, Global Stores Exceed 36,000

Luckin Coffee released its second-quarter results on August 3, 2026. Total net revenue for the period was RMB 15.886 billion, up 28.5% year-on-year. Under US GAAP, operating profit was RMB 2.123 billion, up 22.0%, with an operating margin of 13.4%. Net profit was RMB 1.486 billion, up 16.1%. Monthly transacting customers reached 112.7 million, up 22.9%, a record high, and cumulative transacting customers approached 500 million.

As of the end of the second quarter, Luckin Coffee had 36,310 global stores, with a net addition of 2,714 stores in the quarter, including 2,668 in China and 46 overseas. In the first half, net store additions exceeded 5,000. In China, the total store count was 36,087, comprising 23,625 self-operated and 12,462 partnership stores. Overseas stores totaled 223, including 89 self-operated in Singapore, 20 self-operated in the United States, and 114 franchise stores in Malaysia.

In terms of operations, self-operated store revenue was RMB 11.564 billion, up 26.6% year-on-year. Store-level operating profit was RMB 2.469 billion, up 25.9%, with a store-level operating margin of 21.3%. Partnership store revenue was RMB 3.668 billion, up 27.9%. Gross merchandise value (GMV) reached RMB 18.4 billion, up 29.8%. Same-store sales growth for self-operated stores was -5.3%, versus 13.8% in the same period of 2025, mainly due to the high base from the 2025 delivery war. Delivery fees in the second quarter were RMB 1.62 billion, down 3.1% year-on-year.

Regarding products and customers, the company launched 28 freshly made beverages and over a dozen light food items in the second quarter. The Little Butter Americano became a Top-2 product, with cumulative sales exceeding 500 million cups. The Little Green Tangerine Americano sold over 10 million cups in its first week on the market. New transacting customers exceeded 25 million in the quarter, and average cups per customer per month also hit a record high. The company continues to optimize its product mix, introducing low-calorie, cleaner-formula beverages, and advancing its health-focused research and development.