Luckin Coffee: 4Q 2023 Earnings in Charts
Part I: Strong Momentum of New Store Openings
Chart 1: Quarter End Total Store Count
Source: Company filings.
Chart 2: Number of New Stores Openned per Quarter
Source: Company filings.
Chart 3: Number of New Stores Openned per Day
Source: Company filings.
Chart 4: Number of New Stores Openned in January and February 2024
Source: Company filings and official wechat channel.
Chart 5: Store Mix: Self-Operated Stores vs Partnership Stores
Source: Company filings.
Chart 6: Number of Cities Covered by Store Types
Source: Company filings.
Chart 7: Number of New Stores Openned per Day by Store Type
Source: Company filings.
Okay, so why should I believe any of management's numbers? What am I missing? Thank you so much.