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Luckin Coffee Inc. announced a strong first quarter for 2024 with a 41.5% increase in net revenues, a 103.2% rise in average monthly customers, and 2,342 new store openings, reaching a total of 18,590 stores. However, same-store sales for self-operated stores declined by 20.3%. The Company's GAAP operating loss was RMB65.1 million compared to an operating income of RMB678.4 million in the same quarter of 2023. Non-GAAP operating income decreased to RMB5.0 million from RMB730.5 million in Q1 2023.
