On November 3, Luckin Coffee Inc. (LKNCY) released its financial results for the third quarter of 2026. According to the data, Luckin's total net revenue for the quarter reached RMB 17.891 billion, representing a year-over-year increase of 17.0%. Profitability improved further during the quarter, with non-GAAP net income reaching RMB 2.145 billion, a new single-quarter record high. GAAP operating profit stood at RMB 2.756 billion, up 55.1% year over year, while the operating margin came in at 15.4%, an increase of 3.8 percentage points compared with the same period last year. The average number of monthly transacting customers rose 9.6% year over year to 123 million, also setting a new all-time high. As of the end of the third quarter, Luckin's total global store count reached 38,909, with cumulative transacting customers surpassing 520 million. At the same time, based on confidence in the company's long-term development prospects and in order to better reward shareholders, and with approval from the board of directors, Luckin launched a new one-year share repurchase program totaling US$500 million.
In the third quarter, revenue from self-operated stores reached RMB 12.940 billion, up 16.8% year over year. Store-level operating profit from self-operated stores was RMB 3.019 billion, up 55.5% year over year, with a store-level operating margin of 23.3%. Revenue from partnership stores was RMB 4.243 billion, up 11.7% year over year. GMV increased 19.7% year over year to RMB 20.734 billion. To meet growing market demand, Luckin continued to maintain an industry-leading pace of store openings. In the third quarter, the company added a net 2,599 stores, including a net increase of 2,543 in China (including Hong Kong) and a net increase of 56 overseas. As of the end of the third quarter, Luckin's total global store count reached 38,909. Among these, the total number of stores in the China market (including Hong Kong) reached 38,630, comprising 25,277 self-operated stores and 13,353 partnership stores. In international markets, as of the end of the third quarter, Luckin's total overseas store count reached 279, including 103 self-operated stores in Singapore, 22 self-operated stores in the United States, and 154 franchised stores in Malaysia.
Luckin Coffee co-founder and CEO Guo Jinyi said: "We continued to advance our high-quality scale growth strategy and achieved positive results. As coffee consumption demand in China continues to grow, the company has consistently maintained an industry-leading pace of store openings, and the average number of monthly transacting customers reached a new high this quarter. At the same time, we continued to improve profitability, with non-GAAP net income exceeding RMB 2.1 billion this quarter, a record high for a single quarter. These operating results further validate the company's full-chain digital business model and give us greater confidence to seize the long-term growth opportunities in China's coffee market. Based on this, with the board's approval, we decided to launch a new one-year share repurchase program totaling US$500 million. Going forward, we will continue to focus on expanding market share and creating long-term value for shareholders."
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