In 2025, on average, each Chinese person drinks 3 cups of Luckin Coffee. CEO responds to the impact of the cooling of the food delivery war.

On the evening of February 26th, Luckin Coffee released its financial report for 2025, with annual revenue reaching 49.29 billion yuan, a year-on-year increase of 43%; annual sales volume of freshly made beverages reached 4.1 billion cups, equivalent to each Chinese person consuming about 3 cups of Luckin Coffee last year. At the performance meeting, Luckin Coffee CEO Guo Jin Yi also addressed issues such as the cooling of the takeaway war and market competition in 2026. Regarding the impact of the follow-up market after the takeaway war, Guo Jin Yi stated that the subsidy intensity of takeaway platforms in the fourth quarter significantly contracted during the industry offseason, and although the proportion of takeout decreased month-on-month, it still remained at a relatively high level. The subsequent subsidy strategies of takeaway platforms continue to change, and the cup structure is gradually returning to the need for self-collection, which will take a certain process. Considering the high base brought by the large-scale subsidies of platforms in 2025, the same-store sales and profit performance of Luckin Coffee in 2026 may experience some temporary fluctuations and challenges, which also conforms to objective laws. The Chinese coffee market is still in a period of rapid growth development opportunities, and short-term fluctuations will not change the long-term growth logic.