First Beijing holds 13.46M ADSs in Luckin Coffee (OTC: LKNCY) — 5.07% stake

Rhea-AI Filing Summary

First Beijing Investment Limited reports beneficial ownership of 107,699,376 Class A ordinary shares of Luckin Coffee Inc. These shares represent 13,462,422 ADSs (each ADS = eight Class A ordinary shares) and equal 5.07% of the Class A shares outstanding. The percentage is calculated using 2,124,695,348 Class A Ordinary Shares outstanding as of December 31, 2024, per the issuer's Form 20-F filed March 31, 2025. The filing is made as an Exempt Reporting Advisor and states sole voting and dispositive power over the reported shares.

Insights

Corporate Governance Analyst

Holding crosses the 5% SEC reporting threshold as an exempt advisor.

First Beijing Investment Limited reports ownership of 107,699,376 Class A ordinary shares, equal to 13,462,422 ADSs and 5.07% of Class A outstanding as of December 31, 2024. The filing identifies sole voting and dispositive power and is submitted under the Exempt Reporting Advisor category.

The reported stake meets the regulatory threshold that requires public disclosure of beneficial ownership; subsequent changes in holdings will trigger updated schedules. Timing and any intended disposition method are not stated in the excerpt.

Equity Markets Specialist

A >5% holding by a single entity can be relevant to share supply and potential liquidity.

The position equals 13,462,422 ADSs (ADS ratio: eight Class A shares per ADS). The filing ties the percent to an outstanding base of 2,124,695,348 Class A shares as of December 31, 2024, per the issuer's Form 20-F.

Absent any stated intention in the excerpt, market impact depends on future transactions; regulatory disclosure obligations are satisfied by this Schedule 13G filing as presented.

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)

03/02/2026

(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)

SCHEDULE 13G

CUSIP Number(s):

1

Names of Reporting Persons

First Beijing Investment 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

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 107,699,376.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 107,699,376.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

107,699,376.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Exempt Reporting Advisor

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, XIAMEN, FUJIAN, CHINA, 361008
Item 2.
(a)	Name of person filing: First Beijing Investment Limited
(b)	Address or principal business office or, if none, residence: 16th Floor, On Building, 162 Queens Road, Central, Hong Kong
(c)	Citizenship: Hong Kong
(d)	Title of class of securities: Class A Ordinary Shares, par value US$0.000002 per share
(e)	CUSIP No.: 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: These 107,699,376 Class A ordinary shares represent 13,462,422.00 ADSs (each representing 8 Class A ordinary shares) of the Issuer. There is no CUSIP number assigned to the ordinary shares. CUSIP number 54951L109 has been assigned to the American Depositary Shares ("ADS") 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: 5.07%. The ownership is calculated based on 2,124,695,348 Class A Ordinary Shares of the Issuer outstanding as of December 31, 2024, according to the Form 20-F filed by the Issuer with the Securities and Exchange Commission (the "SEC") on March 31, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 107,699,376. Same as Item 4.(a)
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 107,699,376. Same as Item 4.(a)
	(iv) Shared power to dispose or to direct the disposition of: 0
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.

First Beijing Investment Ltd

Signature:	LI JINGWEI
Name/Title:	DIRECTOR
Date:	03/04/2026

FAQ

What stake does First Beijing Investment Limited report in Luckin Coffee (LKNCY)?

The filing reports 107,699,376 Class A ordinary shares, equal to 13,462,422 ADSs with an ADS ratio of eight ordinary shares per ADS; this represents 5.07% of Class A as of December 31, 2024.

How was the 5.07% ownership calculated for LKNCY?

The percent is calculated using 2,124,695,348 Class A Ordinary Shares outstanding as of December 31, 2024, cited from the issuer's Form 20-F filed March 31, 2025, per the Schedule 13G excerpt.

Does First Beijing have voting and disposition power over these shares?

Yes. The filing states the filer has sole voting power of 107,699,376 shares and sole dispositive power of 107,699,376 shares for the reported Class A ordinary shares.

What classification does the filer use for this Schedule 13G filing?

The filer identifies itself as an Exempt Reporting Advisor in the comment section, and the Schedule 13G reflects ownership and power consistent with that classification.

How many ADSs does the reported holding equal and what is the ADS ratio?

The reported 107,699,376 Class A ordinary shares represent 13,462,422 ADSs, with each ADS representing eight Class A ordinary shares as stated in the filing.