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The number of Luckin Coffee stores surpassed that of Starbucks China. Fortunately, 2021Q4's revenue soared by 87%, which is only one step away from making a profit.

Published: 2026-04-08 Author: World Gafei

Last Updated: 2026/04/08, Walking on the way to work carrying bricks, the urban beauties and handsome men around me are all Luckin Coffee. Have a cup of breakfast and another cup of afternoon tea. This stall sold milk tea yesterday, but today it has been replaced by Rui Xing. Lucky's fraud is a thing of the past. According to Luckin Coffee's fourth release in 2021

Walking on the way to work carrying bricks, the urban beauties and handsome men around me are all Luckin Coffee. Have a cup of breakfast and another cup of afternoon tea. This stall sold milk tea yesterday, but today it has been replaced by Rui Xing. Lucky's fraud is a thing of the past.

According to Luckin Coffee's unaudited financial reports for the fourth quarter of 2021 and fiscal year 2021, Luckin Coffee's total net income in fiscal year 2021 reached 7.965 billion yuan, an increase of 97.5 percent over the same period last year; and total net income in the fourth quarter was 2.4327 billion yuan, an increase of 80.7 percent over the same period in 2020.

As of the end of last year, Ruixing had a total of 6024 stores, including 4397 proprietary stores and 1627 franchise stores. The number of net new stores opened for the year was 1221, an increase of 25.4 per cent compared with the whole of 2020, of which 60 per cent were franchise stores.

In 2021, Ruixing store revenue was 6.193 billion yuan, an increase of 78.3% over the same period last year, while revenue in the fourth quarter was 1.837 billion yuan, an increase of 61% over the same period last year. As for franchise stores, the revenue in fiscal year 2021 was 1.306 billion yuan, an increase of 312.5% over the same period last year.

Luckily, these non-self-operated franchise stores have contributed a lot, and many of them have opened in three, four or five-tier cities, bringing such a high income to Lucky. Roughly speaking, the average annual income of each franchise store is 800000 yuan.

In the financial report released by Ruixing, the distribution expenses were separated in the fourth quarter, and the distribution expenses in this quarter alone reached 233 million yuan, an increase of 83.8% over the same period last year. Ruixing said that the rapid increase in distribution costs is mainly due to the increase in the number of distribution orders.

Coffee follows young people from first-and second-tier cities to today's third-and fourth-tier small counties, and coffee can even be found in some small villages and towns. With the upgrading of consumption and the narrowing of the gap between urban and rural areas, coffee consumption in the sinking market has ushered in an explosive growth, attracting more and more young people to return home to start their own businesses. Recently, a series of negative news from Starbucks in China have given Rui more opportunities. Today, Lucky has more stores than Starbucks in China.

The rapid growth of a number of data means that Lucky's profitability has greatly improved, and its profit day has become within reach. The operating loss under Non- GAAP (adjusted net profit) in the fourth quarter of 2020 was 369 million yuan, compared with 23.6 million yuan in the same period in 2021.

In addition, Lucky also disclosed in the financial report that with the successful completion of the provisional liquidation in the first quarter of 2022, Ruixing expects losses and fees related to false transactions and restructuring to fall significantly in the second quarter of 2022.

Luckin Coffee broke away from the control of the original management and stepped into the right track of growth, and there has long been speculation that Ruixing will return to the NASDAQ main board market. Even in late January this year, Ruixing denied rumors of a return to NASDAQ, and people were also full of expectations.

Companies that enter the pink sheet market usually have no financial disclosure requirements, while Lucky still chooses to release results on schedule to boost confidence with transparency. Do you think Ruixing's return to NASDAQ is far away?

Photo Source: Internet

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