Luckin Coffee Reports 28.5% Revenue Growth in Q2 2026

Luckin Coffee reported a 28.5% year-over-year increase in total net revenue for the second quarter of 2026, reaching RMB15.89 billion. The company expanded its global footprint to 36,310 locations across China, Singapore, Malaysia, and the United States, adding 2,714 net new stores during the period.

Average monthly transacting customers reached a record 112.7 million, representing a 22.9% increase from the previous year. However, same-store sales at self-operated locations declined by 5.3%. The company attributed this dip to a challenging comparison with high delivery platform subsidies provided in the prior year.

Financial results showed GAAP operating income rose 22.0% to RMB2.12 billion, while net income increased 16.1% to RMB1.49 billion. Operating and net margins narrowed, which the company linked to higher marketing, expansion expenses, and raw material costs. As part of a US$300 million buyback program, the company repurchased US$195.1 million of shares.