BEIJING, China – Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) yesterday announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 (the “2023 Annual Report”) with the U.S. Securities and Exchange Commission (the “SEC”).
The 2023 Annual Report, which contains Luckin Coffee’s audited consolidated financial statements prepared under U.S. GAAP as of and for the fiscal year ended December 31, 2023, can be accessed on the SEC’s website and on the Company’s investor relations website at https://investor.lkcoffee.com/.
Luckin Coffee x Kweichow Moutai Theme Store opens
On March 29, Luckin Coffee x Kweichow Moutai “Four Seasons and Eight Solar Terms” theme store opened in Shenzhen, Guangdong province. Dr. Jinyi Guo, Chairman and Chief Executive Officer of Luckin Coffee, and Ding Xiongjun, the Chairman of Kweichow Moutai Group (“Kweichow Moutai”), attended the opening ceremony.
The “Jiangxiang Flavored Latte”, a successful product jointly launched by Luckin Coffee and Kweichow Moutai, has captured the hearts of China’s younger demographic, amassing a transacting customer base of over 25 million.
As prominent players in China’s coffee and baijiu industries, Luckin and Kweichow Moutai will further deepen their long-term strategic partnership, fueled by an unwavering commitment to exceptional product quality.
The Luckin Coffee x Kweichow Moutai “Four Seasons and Eight Solar Terms” theme store features the captivating characteristics from the masterpiece of the renowned traditional calligrapher and painter Baishi Qi, which beautifully depict the changing scenery of the four seasons and the eight solar terms using natural landscapes.
These artistic store decorations seamlessly blend oriental aesthetics with quality innovations, providing consumers with a delightful coffee experience of “as the eight solar terms transition, the Jiangxiang Flavored Latte remains a perfect companion for all seasons”.
Dr. Jinyi Guo, Chairman and Chief Executive Officer of Luckin Coffee, commented: “As two leading enterprises from their respective fields, Luckin Coffee and Kweichow Moutai will continue to deepen co-creation and cooperation, and continuously promote the dynamism of both companies.
With the official opening of the ‘Four Seasons and Eight Solar Terms’ theme store, we are poised to further synergize our efforts, propelling the industry’s growth with greater momentum.”
In September 2023, the Jiangxiang Flavored Latte, jointly launched by Luckin and Kweichow Moutai, became an instant hit upon release. On its debut day, it sold 5.42 million cups, raking in sales that surpassed RMB100 million, setting an unprecedented record for Luckin Coffee’s new product launches. By the end of 2023, the Jiangxiang Flavored Latte had sold a total of 45.83 million cups, with total sales exceeding RMB900 million.
As a strategic long-term product, the Jiangxiang Flavored Latte has become a model for the development of Chinese brands with its outstanding quality and flavor. The success of Jiangxiang Flavored Latte lies in the fusion of Luckin’s premium coffee with Kweichow Moutai’s exquisite liquor essence, resulting in the creation of this popular beverage.
As of the end of 2023, Luckin Coffee had 16,248 stores with more than 230 million cumulative transacting customers, the largest coffee chain brand in China. Going forward, the company will continue to provide consumers with coffee products of high quality, high affordability, and high convenience, driving the development of the coffee market in China.
