Luckin Coffee Announces Upsizing of Share Repurchase Program

Rhea-AI Summary

Luckin Coffee (OTC: LKNCY) announced that its board has approved an upsizing of the company’s share repurchase program. The aggregate authorization increases by US$200 million, from US$300 million to US$500 million, for repurchases of Class A ordinary shares in the form of ADSs during the 12‑month period starting April 30, 2026.

As of August 31, 2026, Luckin Coffee had repurchased 71.6 million Class A shares, equivalent to 8.9 million ADSs, for US$287.2 million under the program. Repurchases may be executed via open‑market, privately negotiated, block trades or other permissible methods, subject to market conditions, regulatory requirements and capital availability, and the program may be adjusted, suspended or discontinued at the board’s or management’s discretion.

Positive

• Buyback authorization increased from US$300 million to US$500 million
• US$287.2 million already spent repurchasing 71.6 million Class A shares
• Remaining US$212.8 million capacity available under current repurchase authorization

Negative

• Repurchase program is discretionary and may be modified, suspended or discontinued at any time
• Future repurchases subject to market, economic, legal and capital constraints

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BEIJING, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (OTC: LKNCY) today announced that its board of directors has approved the upsizing of the Company’s share repurchase program (the “Share Repurchase Program”). As previously disclosed, in April 2026, the Company launched the Share Repurchase Program, pursuant to which the Company was authorized to repurchase up to US$300 million of its Class A ordinary shares in the form of American depositary shares (“ADSs”) over a 12-month period from April 30, 2026 (the “Term of the Share Repurchase Period”). As of August 31, 2026, the Company had repurchased a total of 71.6 million Class A ordinary shares (equivalent to 8.9 million ADSs) for a total consideration of US$287.2 million under the Share Repurchase Program.

The Company’s board of directors has approved an adjustment to the Share Repurchase Program, pursuant to which the aggregate value of shares that the Company is authorized to repurchase under the Share Repurchase Program is increased by US$200 million, from US$300 million to US$500 million. The additional US$200 million repurchase authorization will be effective through the Term of the Share Repurchase Period.

The Company’s share repurchases, if any, under the Share Repurchase Program may be made from time to time on the open market at prevailing market prices, in open-market transactions, privately negotiated transactions or block trades, and/or through other legally permissible means, depending on market conditions and in accordance with the applicable rules and regulations. The timing and conditions of the share repurchases will be subject to various factors including the requirements under Rule 10b-18 and Rule 10b5-1 of the Exchange Act. The Company’s board of directors will review the Share Repurchase Program periodically and may authorize adjustments to its terms and size or suspend or discontinue the program.

The Share Repurchase Program is dependent upon market and economic conditions, and other factors including price, legal and regulatory requirements and capital availability. The Share Repurchase Program does not obligate Luckin Coffee to acquire any particular number of American depositary shares, and the Share Repurchase Program may be modified or suspended at any time at the management's discretion.

SAFE HARBOR STATEMENTS

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Luckin Coffee may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Luckin Coffee’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the expense, timing and outcome of existing or future legal and governmental proceedings or investigations in connection with Luckin Coffee; the outcome and effect of the restructuring of Luckin Coffee’s financial obligations; Luckin Coffee’s growth strategies; its future business development, results of operations and financial condition; the effect of the non-reliance identified in, and the resultant restatement of, certain of Luckin Coffee’s previously issued financial results; the effectiveness of its internal control; its ability to retain and attract its customers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with its suppliers and business partners; trends and competition in the coffee industry or the food and beverage sector in general; changes in its revenues and certain cost or expense items; the expected growth of China’s coffee industry or China’s food and beverage sector in general; governmental policies and regulations relating to Luckin Coffee’s industry; and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in Luckin Coffee’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Luckin Coffee undertakes no obligation to update any forward-looking statement, except as required under applicable law.

About Luckin Coffee Inc.

Luckin Coffee (OTC: LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high convenience and high affordability to customers. Empowered by proprietary technologies, Luckin Coffee pursues its vision to build a world-class coffee brand and become a part of everyone’s daily life. Luckin Coffee was founded in 2017 and is based in China. For more information, please visit investor.lkcoffee.com.

Investor and Media Contacts

Investor Relations:
Luckin Coffee IR
Email: ir@lkcoffee.com

Bill Zima
ICR
Phone: 646 880 9039

Media Relations:
Luckin Coffee PR
Email: pr@lkcoffee.com

FAQ

What did Luckin Coffee (LKNCY) announce about its share repurchase program on September 1, 2026?

Luckin Coffee announced that its board approved an upsizing of its existing share repurchase program to a total authorization of US$500 million. According to Luckin Coffee, this expanded authorization covers repurchases of Class A ordinary shares in ADS form during the 12‑month period beginning April 30, 2026.

By how much did Luckin Coffee (LKNCY) increase its share buyback authorization?

Luckin Coffee increased its share repurchase authorization by US$200 million, raising the limit from US$300 million to US$500 million. According to Luckin Coffee, this additional capacity will be available for buybacks during the existing 12‑month program term ending April 29, 2027.

How many shares has Luckin Coffee (LKNCY) repurchased so far under its 2026 buyback program?

As of August 31, 2026, Luckin Coffee had repurchased 71.6 million Class A ordinary shares, equivalent to 8.9 million ADSs. According to Luckin Coffee, the total consideration for these repurchases under the program was approximately US$287.2 million.

How much capacity remains in Luckin Coffee’s (LKNCY) upsized 2026 share repurchase program?

After spending US$287.2 million, Luckin Coffee has approximately US$212.8 million remaining under its US$500 million authorization. According to Luckin Coffee, future repurchases will depend on market conditions, legal and regulatory requirements, and available capital during the program term.

How will Luckin Coffee (LKNCY) execute share repurchases under the upsized program?

Repurchases may be made on the open market at prevailing prices, through privately negotiated transactions, block trades, or other legally permissible means. According to Luckin Coffee, timing and conditions will consider market factors and requirements of Rule 10b‑18 and Rule 10b5‑1.

Is Luckin Coffee (LKNCY) obligated to complete the full US$500 million share buyback?

No, the share repurchase program does not obligate Luckin Coffee to buy any specific number of ADSs. According to Luckin Coffee, the board may adjust, suspend, or discontinue the program, and management can modify or halt repurchases based on conditions and capital availability.