On March 24, Ruixing released its 2021 fiscal year financial report, with a net income of 7.965 billion yuan, a year-on-year increase of 97.5%, almost doubling.

Another figure is that the total number of Luckin Coffee stores has reached 6,024 by the end of 2021, surpassing Starbucks China’s 5,557.

After experiencing financial fraud and delisting turmoil, the topic of Luckin's stores surpassing Starbucks China has become a hot topic.

　　According to the financial report released by Ruixing, in 2021, the company's direct-operated store revenue will be 6.193 billion yuan, an increase of 78.3% over the same period last year.

The franchise store revenue was 1.306 billion yuan, an increase of 312.5% ​​over the same period last year.

　　Guo Jinyi, chairman and CEO of Luckin, publicly stated that Luckin Coffee’s overall “strong performance” in the fourth quarter and fiscal year 2021, with more than 350 new stores opened in the fourth quarter, making Luckin Coffee still the largest in China One of the coffee chains.

　　As for the reason for the increase in sales of directly-operated stores, Guo Jinyi said that "the number of transaction customers has increased, the sales of goods have increased and the average selling price has increased."

The reporter noticed that in 2021, the average monthly number of customer transactions of Luckin (including customers in partner stores and customers who only paid with free coupons) increased from 9.712 million in 2020 to 16.229 million.

　　In addition to direct-operated stores, Guo Jinyi also specifically mentioned the contribution of franchise store business to Luckin's revenue growth: "As Luckin enters more low-tier cities, franchise store revenue has increased significantly. This shows that the franchise model is closely related to our direct sales. The business strategy is highly complementary.”

　　However, the reporter also noticed that Ruixing is still at a loss.

According to the financial report data, in 2021, Luckin’s operating loss under GAAP (US accounting standards) is 539 million yuan, and the operating loss under Non-GAAP (non-US accounting standards) is 236 million yuan.

　　At present, Ruixing is slowing down the speed of joining, and the price has basically reached the ceiling of the mid-end coffee. It is still doubtful whether it can create a national explosion like the raw coconut latte in 2022.

　　In the crowded coffee track in China, mid-end specialty coffee brands that compete directly with Ruixing continue to emerge. It is not difficult for Ruixing to deliver the same dazzling financial report in 2022.

　　Chengdu Business Daily-Red Star News reporter Yu Yao

　　Intern reporter Zhang Luxi