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Recent Earnings were spectacular. Growth accelerating. Global expansion sooner than expected. Margins down slightly given competitive market price adjustments. Profitable with cash coffers growing. Soon this will be an internationally recognized brand. They are collaborating in all the right ways.
Once they pr a relist, the train will leave the station. Once the ticker hits the big board, it will be IPO ish event as it relates to volume, volatility, and institutional large share block grabs. The price will surge 20-30% minimum. A 25B market cap is reasonable in 2024 given their recent earnings and continued growth. They are the fastest growing retail storefront in the world and have quite easily taken down the world’s number one retail coffee brand in their homeland. It’s only a matter of time until the SP catches up with the fundamentals. My take is $100 plus sometime in 2024.
Hello out there, anyone still here or has everyone moved on to other things? It appears as if many of the posters are gone, and many of the old one's have vanished. However, I'm still here and proud to be a Luckin holder since the delisting prices, must confess my pleasure with the company's developments and will continue to hold for at least 1 more year.
Happy to see that there are a few people still here, luckin is really proving itself as a major leader in the coffee industry. Although it's only normal that the Up and Down in price will continue, I personally believe that holding on through next year should be quite profitable.
It appears as if LUCKIN has begun its climb to new highs as next earnings report gets closer, I can't find any good reason why it's growth and % advancement in brand demand will not result in a $40-$50 market price this year. Next year should be huge!
I believe Chinese stocks will be just fine if you are in the right one's, I consider LUCKIN to be one of those stocks that will preform well above the average. Sill looking for $50 by year's end
I'm out of all my China stocks. If China supplies weapons to Russia we may see more sanctions on China. Too many political ramifications to hold china's stocks at this time.
Looks as if there's either a Major Seller here, or a huge Buyer at $27.75-$27.85, hopefully someone knows something Good and is loading up, or Selling knowing something Bad.
Could not have asked for more, great day even with the turmoil this morning. I suppose a pullback is coming shortly and that is expected and opportunity to BUY more. I believe tomorrow it goes higher, and then sells off, nothing goes up forever.
Yes I read that earlier, we just need to get relisted and begin a following with analysts, hedge funds and brokerage company's. I believe when and if that should ever occur, I can then see Luckin begin making a huge run up.
Dr. Guo continued, “Under our long-term goal of supply chain integration, we were pleased to break ground on our second roastery in Kun Shan in December 2022, which will supply us with roasted coffee beans of consistent quality.
Luckin Coffee Inc. Announces Fourth Quarter and Full Year 2022 Financial Results
Thu, March 2, 2023 at 4:00 AM PST
More than 2,100 Net New Store Openings in Fiscal Year 2022; Ended 2022 with More than 8,200 Stores in China
Fiscal Year 2022 Net Revenues Increased 67%
Maintained Strong Profitability Profile Despite Significant Impact from COVID-19 During Fourth Quarter of 2022
Continues to Advance ESG Initiatives and Sustainable Development Goals
BEIJING, March 02, 2023 (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (OTC: LKNCY) today announced its unaudited financial results for the three months ended December 31, 2022 and fiscal year 2022.
FOURTH QUARTER 2022 HIGHLIGHTS1
Total net revenues in the fourth quarter were RMB3,695.0 million (US$535.7 million), representing an increase of 51.9% from RMB2,432.7 million in the same quarter of 2021.
Net new store openings in the fourth quarter was 368, resulting in a quarter-over-quarter store unit growth of 4.7% from the number of stores at the end of the third quarter of 2022, ending the fourth quarter with 8,214 stores which include 5,652 self-operated stores and 2,562 partnership stores.
Average monthly transacting customers in the fourth quarter were 24.6 million, representing an increase of 51.3% from 16.2 million in the same quarter of 2021.
Revenues from self-operated stores in the fourth quarter were RMB2,607.3 million (US$378.0 million), representing an increase of 41.9% from RMB1,837.2 million in the same quarter of 2021.
Same-store sales growth for self-operated stores in the fourth quarter was 9.2%, compared to 43.6% in the same quarter of 2021.
Store level operating profit – self-operated stores in the fourth quarter was RMB614.5 million (US$89.1 million) with store level operating profit margin of 23.6%, compared to RMB383.4 million with store level operating profit margin of 20.9% in the same quarter of 2021.
Revenues from partnership stores in the fourth quarter were RMB843.4 million (US$122.3 million), representing an increase of 87.9% from RMB448.8 million in the same quarter of 2021.
GAAP operating income in the fourth quarter was RMB313.2 million (US$45.4 million), representing a GAAP operating income margin of 8.5%, compared to a GAAP operating loss of RMB120.8 million, or a GAAP operating loss margin of 5.0%, in the same quarter of 2021. Non-GAAP operating income in the fourth quarter, which adjusts for share-based compensation expenses, was RMB425.6 million (US$61.7 million), representing a non-GAAP operating income margin of 11.5%, compared to a non-GAAP operating loss of RMB23.6 million, or a non-GAAP operating loss margin of 1.0%, in the same quarter of 2021, which represents a significant improvement of operating results.
FISCAL YEAR 2022 HIGHLIGHTS
Total net revenues in fiscal year 2022 were RMB13,293.0 million (US$1,927.3 million), representing an increase of 66.9% from RMB7,965.3 million in fiscal 2021.
Net new store openings in fiscal year 2022 was 2,190, resulting in a year-over-year store unit growth of 36.4% from the number of stores at the end of fiscal year 2021, ending the period with 8,214 stores which include 5,652 self-operated stores and 2,562 partnership stores.
Average monthly transacting customers in fiscal year 2022 were 21.6 million, representing an increase of 66.2% from 13.0 million in fiscal year 2021.
Revenues from self-operated stores in fiscal year 2022 were RMB9,414.5 million (US$1,365.0 million), representing an increase of 52.0% from RMB6,192.7 million in fiscal year 2021.
Same-store sales growth for self-operated stores in fiscal year 2022 was 20.6%, compared to 69.3% in fiscal year 2021.
Store level operating profit – self-operated stores in fiscal year 2022 was RMB2,482.0 million (US$359.9 million) with store level operating profit margin of 26.4%, compared to RMB1,252.8 million with store level operating profit margin of 20.2% in fiscal year 2021.
Revenues from partnership stores in fiscal year 2022 were RMB3,069.3 million (US$445.0 million), representing an increase of 135.0% from RMB1,306.1 million in fiscal year 2021.
GAAP operating income in fiscal year 2022 was RMB1,156.2 million (US$167.6 million), representing a GAAP operating income margin of 8.7%, compared to a GAAP operating loss of RMB539.1 million, or a GAAP operating loss margin of 6.8%, in fiscal year 2021. Non-GAAP operating income in fiscal year 2022, which adjusts for share-based compensation expenses, was RMB1,554.2 million (US$225.3 million), representing a non-GAAP operating income margin of 11.7%, compared to a non-GAAP operating loss of RMB236.3 million, or a non-GAAP operating loss margin of 3.0%, in fiscal year 2021, which represents a significant improvement of operating results.
COMPANY STATEMENT
“We delivered another year of strong operational and financial performance despite being materially impacted by COVID-19 in the fourth quarter of 2022,” said Dr. Jinyi Guo, Chairman and Chief Executive Officer of Luckin Coffee. “We had more than 2,100 net new store openings in 2022, bringing our total stores in China to more than 8,200 and demonstrating our ability to effectively navigate a dynamic and evolving business landscape and maintaining our leading position in the Chinese coffee market. Our team has continued to deliver improvements across key operating and financial metrics, and we are pleased to have achieved substantial revenue growth in 2022 while further improving our profitability profile.”
Dr. Guo continued, “Under our long-term goal of supply chain integration, we were pleased to break ground on our second roastery in Kun Shan in December 2022, which will supply us with roasted coffee beans of consistent quality. We are also proud to have launched our ESG initiative in November 2022, with the publication of our 2020-2022 Corporate Governance Report. This report underscores ongoing commitment to pursuing sustainable development and growth.”
Dr. Guo concluded, “I am exceptionally proud of the dedication from everyone at Luckin Coffee and the continued effort and determination that delivered a strong performance in 2022. Heading into 2023, we are encouraged to see the recent lifting of substantially all COVID-19 restrictions in China and the return of high levels of consumer activity. With these recent developments and as we begin to operate at normalized levels, we are confident in our ability to continue driving sustainable growth and long-term value for our shareholders.”
IMPACT OF COVID-19
The Chinese markets and the Company’s business have been adversely affected by COVID-19. In particular, the Company was materially and adversely impacted by COVID-19 in the fourth quarter of 2022, with weak customer demand and high numbers of daily temporary store closures, reaching a peak of around 1,500 daily temporary store closures.
However, with the recent lifting of substantially all COVID-19 restrictions in China, the number of daily temporary store closures due to COVID-19 have dropped to single digits since January 2023 and the Company’s operations have mostly returned to normalized levels. While uncertainties remain around the COVID-19 situation in China, the Company is optimistic that the negative impacts on operations due to COVID-19 will continue to lessen for the foreseeable future.
Not a bad E/R, although I don't believe it will affect share price very much today, we need audited financials and relisting to really get Luckin rolling.
LUCKIN is setting itself up for the March 2nd E/R, would not surprise me to see a price of $33.00-$35.00 prior to or on the day of release. I suspect once LUCKIN reaches its high, it will consolidate before continuing to new highs. How high is anyone's guess??
Must confess that LUCKIN is quite a volatile stock that can move up or down in a flash, won't be too long before we see it move in $$$$ at a time as its price continues higher and higher. I wonder what 2023 year's high will be, all time high is $50.02 prior to delisting in March 2020.
Does anyone care to speculate what realistic price is reasonable for LUCKIN by the end of March, personally I have absolutely no idea and hope it remains at $30.00.]
For all those who might be interested[ in knowing the most recent Short Position in LUCKIN, well it is only a mere 665,000 as of this week and appears as if most Shorts have already exited their positions. /b]
There was no doubt in my mind that LUCKIN had $30.00 written all over it, I am pretty much confident that the price will continue to rise until the $52.02 mark is reached this year. Should there be no negative surprises along the way this year and next, I wonder where the price will eventually head to that is considered realistic. Will check out Toast, looks like an interesting stock to watch. Thank you
Good call. Long term hold for me (2026+). I noticed this U.S stock today and they were making a big deal out of it. I think Luckin was doing technology from the start. In fact, China is a cashless society (but don't tell Americans, lol)
Toast [NYSE: TOST] is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a single platform of software as a service (SaaS), products and financial technology solutions that give restaurants everything they need to run their business across point of sale, operations, digital ordering and delivery, marketing and loyalty, and team management. By serving as the restaurant operating system across dine-in, takeout, and delivery channels, Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. For more information, visit www.toasttab.com.
I'm betting that either by the end of February or first week of March, LUCKIN will have hit $30.00 and begin its assent to the all time high of $50.02 sometime this year.
Meaning when it was delisted, most everyone believed LUCKIN was toast after that, fortunately for all those who bought, held and believed in it are reaping the benefits.
Something is telling me that in March, LUCKIN will be making a huge announcement, and I believe it will be its relisting. Once that occurs, it would not surprise me to see LUCKIN challenge its old high of $50.02 before its demise.
Unfortunately that's more like it lasted only 1 day, yesterday started off great but then went South and closed Lower, hopefully today we regain what we lost and and finally break the $30.00 mark.
[b Well said and reasonable planning for future investments, LUCKIN has been a major winner for me up to now and hopefully will continue to be so in the future. Somewhat concerned with market in these next few days, I'm sure you can understand why with the present situation upon us.[ b]
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