Luckin Coffee Inc. ownership disclosure: Temasek Holdings and its affiliate Temasek Capital (China) report joint beneficial ownership positions in Class A ordinary shares as of the close of business on 05/18/2026. Temasek holds 137,015,912 Class A ordinary shares (shared voting and dispositive power) representing 6.4% of the Class A shares outstanding. Temasek Capital (China) holds 111,717,512 Class A ordinary shares with shared voting and dispositive power, representing 5.2% of the Class A shares outstanding. The ownership percentages are calculated using 2,154,137,392 Class A ordinary shares outstanding as of 02/28/2026, per the issuer's Form 20-F. The Reporting Persons executed a joint filing agreement dated 05/22/2026 and signed the Schedule 13G.
Positive
None.
Negative
None.
Key Figures
Temasek shares beneficially owned:137,015,912 sharesTemasek Capital (China) shares beneficially owned:111,717,512 sharesClass A shares outstanding used for calculation:2,154,137,392 shares+3 more
6 metrics
Temasek shares beneficially owned137,015,912 sharesAs of 05/18/2026
Temasek Capital (China) shares beneficially owned111,717,512 sharesAs of 05/18/2026
Class A shares outstanding used for calculation2,154,137,392 sharesAs of 02/28/2026 per Form 20-F
Temasek ownership percentage6.4%Calculated using outstanding shares as of 02/28/2026
Temasek Capital (China) ownership percentage5.2%Calculated using outstanding shares as of 02/28/2026
ADS conversion ratio1 ADS = 8 Class A sharesADSs quoted on OTC under symbol LKNCY
"each ADS representing eight Class A Ordinary Shares"
Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.
Schedule 13Gregulatory
"This is being filed jointly by: (i) Temasek Holdings (Private) Limited"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Shared Dispositive Powerregulatory
"Shared Dispositive Power 137,015,912.00"
Joint Filing Agreementlegal
"The Reporting Persons entered into a joint filing agreement, dated as of May 22, 2026"
What stake does Temasek report in Luckin Coffee (LKNCY)?
Temasek reports beneficial ownership of 137,015,912 Class A ordinary shares, equal to 6.4% of Class A shares outstanding as of 02/28/2026. The holdings reflect shared voting and dispositive power under the joint filing.
How many shares does Temasek Capital (China) hold in LKNCY?
Temasek Capital (China) reports beneficial ownership of 111,717,512 Class A ordinary shares, equal to 5.2% of Class A shares outstanding as of 02/28/2026. These shares are held through wholly owned subsidiaries.
What share count was used to calculate the ownership percentages?
The percentages are calculated using 2,154,137,392 Class A ordinary shares outstanding as of 02/28/2026, according to the issuer's Form 20-F filed on 03/27/2026.
Do the Reporting Persons have sole voting or dispositive power over these shares?
No. The report shows 0 shares with sole voting or sole dispositive power for each Reporting Person; voting and dispositive power are reported as shared for the positions disclosed.
How are ADSs reflected in the reported holdings for LKNCY?
The filing states each American Depositary Share (ADS) represents eight Class A ordinary shares. Portions of the reported share totals are represented by ADSs quoted under the symbol LKNCY on the OTC market.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Luckin Coffee Inc.
(Name of Issuer)
Class A Ordinary Shares, par value US$0.000002 per share
(Title of Class of Securities)
54951L109
(CUSIP Number)
05/18/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
54951L109
1
Names of Reporting Persons
Temasek Holdings (Private) Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SINGAPORE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
137,015,912.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
137,015,912.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
137,015,912.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.4 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
54951L109
1
Names of Reporting Persons
Temasek Capital (China) Holdings Pte. Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SINGAPORE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
111,717,512.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
111,717,512.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
111,717,512.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.2 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Luckin Coffee Inc.
(b)
Address of issuer's principal executive offices:
28th Floor, Building T3, Haixi Jingu Plaza, 1-3 Taibei Road.Siming District, Xiamen City, Fujian, China, 361008
Item 2.
(a)
Name of person filing:
This Schedule 13G is being filed jointly by:
(i) Temasek Holdings (Private) Limited ("Temasek"); and
(ii) Temasek Capital (China) Holdings Pte. Ltd. ("Temasek Capital (China)", together with Temasek, the "Reporting Persons").
The Reporting Persons entered into a joint filing agreement, dated as of May 22, 2026 (incorporated by reference to Exhibit 99.1 to this Schedule 13G).
(b)
Address or principal business office or, if none, residence:
For each of the Reporting Persons:
60B Orchard Road
#06-18
The Atrium@Orchard
Singapore 238891
(c)
Citizenship:
Each of the Reporting Persons: Republic of Singapore
(d)
Title of class of securities:
Class A Ordinary Shares, par value US$0.000002 per share
(e)
CUSIP Number(s):
54951L109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
As of the close of business on May 18, 2026:
Temasek - 137,015,912 Class A ordinary shares (including 32,313,912 Class A ordinary shares and 104,702,000 Class A ordinary shares represented by ADS), comprising (i) 111,717,512 Class A ordinary shares (including 25,851,128 Class A ordinary shares and 85,866,384 Class A ordinary shares represented by ADS) beneficially owned by its wholly owned subsidiary Temasek Capital (China), and (ii) 25,298,400 Class A ordinary shares (including 6,462,784 Class A ordinary shares and 18,835,616 Class A ordinary shares represented by ADS) beneficially owned by certain entities that are indirectly wholly owned by the general partner of a limited partnership, for and on behalf of such limited partnership; both the general partner and the investment manager of this limited partnership are indirectly wholly owned subsidiaries of Temasek.
Temasek Capital (China) - 111,717,512 Class A ordinary shares (including 25,851,128 Class A ordinary shares and 85,866,384 Class A ordinary shares represented by ADS), held through its wholly owned subsidiaries.
There is no CUSIP number assigned to the Class A ordinary shares. CUSIP number 54951L109 has been assigned to the American Depositary Shares ("ADSs") of the Issuer, each ADS representing eight Class A Ordinary Shares, which are quoted on the OTC market under the symbol "LKNCY."
(b)
Percent of class:
Temasek: 6.4%
Temasek Capital (China): 5.2%
The ownership percentages are calculated based on 2,154,137,392 Class A Ordinary Shares of the Issuer outstanding as of February 28, 2026, according to the Form 20-F filed by the Issuer with the Securities and Exchange Commission on March 27, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0 for each Reporting Person
(ii) Shared power to vote or to direct the vote:
Temasek: 137,015,912
Temasek Capital (China): 111,717,512
(iii) Sole power to dispose or to direct the disposition of:
0 for each Reporting Person
(iv) Shared power to dispose or to direct the disposition of:
Temasek: 137,015,912
Temasek Capital (China): 111,717,512
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
