Luckin Coffee delivers solid revenue and profit growth in Q2 2026 with expanded global store network

Luckin Coffee has released its financial results for the second quarter of 2026, reporting steady and high-quality business expansion across its global operations. The company’s strategic focus on scaled and sustainable growth has delivered consistent operational improvements and stronger profitability metrics.

The firm recorded total net revenue of RMB 15.886 billion in the second quarter, representing a year-on-year increase of 28.5 per cent. GAAP operating profit turned positive with an annual rise of 22.0 per cent, reaching RMB 2.123 billion and translating to an operating profit margin of 13.4 per cent, further consolidating its profit recovery momentum. Monthly active transaction customers grew 22.9 per cent year on year to a record high of 113 million. By the end of the quarter, Luckin Coffee operated 36,310 stores worldwide, with cumulative transaction users approaching 500 million.

Breakdown operational data shows robust growth across both self-operated and affiliated store segments. Self-operated store revenue hit RMB 11.564 billion in the quarter, up 26.6 per cent year on year, with store-level operating profit rising 25.9 per cent to RMB 2.469 billion and a store-level profit margin of 21.3 per cent. Revenue from affiliated stores stood at RMB 3.668 billion, marking a 27.9 per cent annual increase. The company’s total gross merchandise value climbed 29.8 per cent year on year to RMB 18.4 billion.

Driven by growing domestic coffee consumption demand, Luckin Coffee continues to expand its retail network across China, covering both tier-one and lower-tier cities to enhance consumer coverage and service capacity. The company maintained industry-leading store expansion speed in the second quarter, adding a net total of 2,714 new stores. Its China market, including Hong Kong, saw a net increase of 2,668 stores, while overseas markets added 46 new outlets.

By the end of the second quarter, the company’s domestic store count reached 36,087, comprising 23,625 self-operated stores and 12,462 affiliated stores. Overseas business layout advances steadily with 223 operational stores in total, including 89 self-operated outlets in Singapore, 20 self-operated stores in the United States and 114 franchised locations in Malaysia.

The company’s mature digital operational system, tailored localised operational strategies and continuous product innovation underpin its market competitiveness in both domestic and international markets. Luckin Coffee will further optimise store network distribution, enrich product matrices and deepen user engagement to capture incremental opportunities from China’s expanding coffee consumption market. The company’s differentiated digital capabilities and solid brand recognition will continue to support long-term business expansion and steady value growth for shareholders.