The latest news of Luckin Coffee's financial report this year is Rui Xing freshly ground coffee? Rui Xing has become the most frequently consumed coffee brand.
A financial fraud company, a company that was forced to delist from NASDAQ, did not fail.
Lucky to make a comeback and welcome the good news.
On the evening of October 21, Luckin Coffee released his third financial report in nearly four months.
The unaudited financial report released by Ruixing for a total of six months to June 30, 2021 shows that Luckin Coffee's revenue maintained a substantial growth trend and the loss narrowed significantly in the first half of the year.
Luckin Coffee's revenue in the first half of 2021 was 3.183 billion yuan ($493 million), up 106.0% from 1.545 billion yuan in the same period in 2020, while the net loss was 210 million yuan ($32.75 million), 86.4% lower than in the same period in 2020, but so far, Ruixing is still losing money.
For the reason for the increase in net income, Luckin Coffee said in the announcement that it was due to the increase in the average selling price of products and the increase in the number of monthly trading customers and product sales.
According to specific analysis, Ruixing's total operating expenditure in the first half of the year was 3.594 billion yuan (US $556.6 million), an increase of 13.0% from 3.1804 billion yuan in the same period last year.
Of the operating expenses, material costs and store rental contracts were 2.18 billion yuan; 150 million yuan due to losses related to previous data falsification and restructuring, Ruixing's total operating loss was 411.5 million yuan ($63.7 million), down sharply from 1.6359 billion yuan in the same period last year.
In addition, Luckin Coffee's revenue from product sales was 2.741 billion yuan (US $425 million), an increase of 89.3% over 1.448 billion yuan in the same period in 2020. In terms of user data, Luckin Coffee's average monthly trading customers in the first half of 2020 was 10.5 million, an increase of 35.1% from 7.8 million in the first half of 2020.
In terms of store performance, Lucky's revenue from franchise stores in the first half of this year was 441 million yuan, an increase of 357.8% compared with 96.4 million yuan in the same period last year. In terms of the number of stores, as of the first half of 2021, the total number of Luckin Coffee stores was 5259, including 4018 self-owned stores and 1241 cooperative stores. As of the first half of 2020, there were 4267 self-owned stores and 824 partnership stores.
Lucky store performance
The above are the data of Luckin Coffee's financial report. Guo Jinyi, chairman and CEO of Luckin Coffee, pointed out that this announcement marks Ruixing's return to the normal pace of financial reporting.
So how did Luckin Coffee climb back to safety from the edge of the cliff?
You still remember the "velvet latte" product launched by Ruixing in September. It is understood that the product sold 2.7 million cups in only 9 days on the line, which was called "slipping into the heart" by talented netizens.
Meteorites, thick lattes and raw coconut lattes launched by Luckin Coffee have all become popular products. In June this year, the sales of raw coconut products alone exceeded 10 million cups, which once led the industry.
The outbreak of single product has refreshed the sales record of Ruixing beverage and brought it considerable performance.
Of course, the important reason why Luckin Coffee was able to climb back to his seat belt from the edge of the cliff is that the Chinese coffee market continues to improve, and the consumer group is one of the core weights for Lucky to win the war.
According to a survey released by the Southern Metropolis Daily, the young generation represented by the post-95 generation has changed from the Milk Tea Party to the Coffee Party, and the three major factors of "mellow taste, cheap price and convenient way to buy" have become the reasons for the post-1995 generation to choose coffee. Media data show that Luckin Coffee became the "most frequently consumed coffee brand" among the respondents.
At the same time, Lucky is priing open the market door through a variety of topics to return to the vision of young people.
At the end of April this year, Rui Xing signed a contract with Lilu Xiu in the highly discussed variety show "Creative Camp 2021." because "Lilu Xiu" has its own social topic gene, Rui Xing also played with topics such as "raw coconut latte never gets off work." as a result, it has also aroused widespread concern among many netizens. Luckin Coffee also signed freestyle skiing world champion Gu Ailing (Eileen Gu) as the brand spokesman on Sept. 3, and Rui is actively signing up influential traffic stars to reshape his brand image.
In 2019, Lucky's net loss was 3.712 billion yuan.
In 2020, Lucky's net loss was about 3.2 billion yuan.
In the first half of 2021, Lucky's net loss was about 210 million yuan. In May and June in the first half of this year, Lucky has made an overall profit for two months in a row, with an amount of tens of millions of yuan. although Lucky is still in a state of loss, it has greatly narrowed the loss.
Judging from the data, Rui Xing has stood up again.
* Photo Source: for more information about coffee beans on the Internet, please follow the coffee workshop (Wechat official account cafe_style) for professional coffee knowledge exchange. Please add Wechat account kaixinguoguo0925.
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