瑞幸咖啡(LKNCY) 2023 年第四季度财报电话会议记录

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Company Participants

Alicia Guo - Head of Investor Relations

郭阿莉西亚 - 投资者关系负责人

Guo Jinyi - Chairman and CEO

过金仪 - 主席兼首席执行官

Jing An - Chief Financial Officer

靖安 -首席财务官

Operator

Operator

Ladies and gentlemen, welcome to Luckin Coffee's Fourth Quarter and Full-Year 2023 Earnings Conference Call. All participants will be in listen-only mode during management’s prepared remarks, and there will be a question-and-answer session to follow. Today's conference is being recorded.

女士们,先生们,欢迎参加瑞幸咖啡2023年第四季度和全年业绩电话会议。在管理层讲话准备期间,所有参与者将处于听取模式,随后将进行问答环节。今天的电话会议将被录音。

At this time, I would like to turn the call over to Ms. Alicia Guo, the Head of Investor Relations of Luckin Coffee for prepared remarks and introductions. Please go ahead, Alicia.

此时,我想把通话转给Luckin Coffee投资者关系部负责人Alicia Guo女士,为其准备好的发言和介绍。请继续,Alicia。

Alicia Guo

Alicia Guo

Hello, everyone, and thank you for joining us on today's call. Luckin Coffee announced its fourth quarter and full-year 2023 financial results earlier today. Today, you will hear from Dr. Guo Jinyi, Chairman and CEO of Luckin Coffee; and Ms. An Jing, CFO of Luckin Coffee. After the company's prepared remarks, the management team will conduct a question-and-answer session based on questions submitted via the company's webcast.

大家好,感谢大家参加今天的电话会议。瑞幸咖啡今天早些时候发布了 2023 年第四季度和全年财务业绩。今天,您将听到瑞幸咖啡董事长兼首席执行官郭劲一博士以及瑞幸咖啡首席财务官安静女士的发言。在公司发表讲话之后,管理团队将根据通过公司网络直播提交的问题进行问答环节。

We will be referring to a slide presentation on today's call, which can be found via a conference call webcast link as well as on the company's IR website. The IR website link is investor.lkcoffee.com.

我们将在今天的电话会议中提到一个幻灯片演示,您可以通过电话会议网络直播链接以及公司的IR网站找到它。IR网站的链接是investor.lkcoffee.com.

During today's call, the company will be making some forward-looking statements regarding future events and results. Statements that are not historical facts, including, but not limited to, statements about the company's beliefs and expectations are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the company's filings with the SEC.

在今天的电话会议上,公司将就未来事件和成果作出一些前瞻性声明。非历史事实的声明,包括但不限于公司的信念和期望,都属于前瞻性声明。前瞻性声明涉及固有的风险和不确定性。有关这些以及其他风险的更多信息已包含在公司向美国证券交易委员会提交的文件中。

With respect to any non-GAAP measures discussed during the call today, the accompanying reconciliation information related to those measures can be found in the earnings press release issued earlier today.

关于今天通话中讨论的任何非通用会计准则措施,与这些措施相关的协调信息可以在今天早些时候发布的收益新闻稿中找到。

During today's call, Dr. Guo will speak in Chinese and his comments will be translated into English.

今天的电话会议中,郭博士会用中文发言,他的评论将会被翻译成英文。

Now, I would like to turn the call over to Dr. Guo Jinyi, Chairman and CEO of Luckin Coffee. Dr. Guo, please go ahead.

现在,我想把电话转给瑞幸咖啡的董事长兼首席执行官郭劲毅博士。郭博士,请讲。

Guo Jinyi

Guo Jinyi

[Foreign Language]

Could you please provide the text that you would like me to translate into Chinese?

Hello, everyone. Welcome to today's earnings conference call, and thank you for continuing to support Luckin Coffee. I am Luckin's Chairman and CEO, Guo Jinyi.

大家好。欢迎参加今天的收益电话会议,感谢您继续支持瑞幸咖啡。我是瑞幸的董事长兼首席执行官,郭矜逸。

2023 was a significant milestone year for Luckin Coffee. In terms of scale, the number of Luckin Coffee stores doubled from the previous year, reaching a new record high. In terms of performance, despite facing intense industry competition, Luckin Coffee achieved another year of record-breaking revenue, thanks to its unique business model, continuous product innovation and scale advantage.

2023年对瑞幸咖啡来说是一个重要的里程碑之年。在规模方面,瑞幸咖啡的门店数量翻了一番,创下了新的历史纪录。在业绩方面,尽管面临激烈的行业竞争,瑞幸咖啡凭借其独特的商业模式、持续的产品创新和规模优势取得了又一年创纪录的营收。

The overall level of profit remained healthy and manageable, aligned with our expectations and the direction of our strategic development. In the fourth quarter, Luckin Coffee continued to reward consumers through the 10,000-store celebration event promotion, allowing more consumers to enjoy high-quality coffee at preferential prices.

利益总水平保持健康和可控,符合我们的预期和战略发展方向。在第四季度,瑞幸咖啡继续通过万店庆典活动促销奖励消费者,让更多消费者以优惠价格享受高品质咖啡。

Meanwhile, our number of new transacting customers also reached a historical high. We successfully created several blockbuster products, breaking records for single item sales at Luckin Coffee. Going forward, we will continue to steadily progress according to our established strategy while expanding market share and consistently providing consumers with high quality, affordable and convenient coffee offerings.

与此同时,我们的新交易客户数量也达到了历史新高。我们成功推出了多款畅销产品,在瑞幸咖啡的单品销售方面创下了纪录。未来,我们将根据既定战略稳步前进,扩大市场份额,并持续为消费者提供高品质、价格实惠、便捷的咖啡产品。

By doing so, we aim to drive continuous development of the Chinese coffee market while simultaneously rewarding our customers.

通过这样做,我们旨在推动中国咖啡市场的持续发展,同时回报我们的客户。

[Foreign Language]

I'm sorry, I cannot assist with translating into a foreign language without knowing which specific language you need the translation for. Could you please provide more information?

Specifically, Luckin Coffee experienced robust year-over-year revenue growth in the fourth quarter. However, due to factors such as seasonality, promotional events like the 10,000-store celebration event and intense industry competition, the profit growth rate experienced a decline in line with the company's expectations.

尤其是,瑞幸咖啡在第四季度经历了强劲的年度营收增长。然而,由于季节性因素、促销活动(如1万家店庆典)和激烈的行业竞争等因素,利润增长率与公司的预期相符合地出现了下滑。

The total net revenue reached RMB7.06 billion, marking a 91.2% year-over-year increase. The operating profit margin stood at 3%, with a self-operated store operating profit margin of 13.5%. Same-store sales growth was 13.5%, with 2,975 net new store openings. In addition, monthly average transacting customers surpassed the $62 million. Our CFO, An Jing, will share further financial details later on this call.

总净收入达到70.6亿元人民币,同比增长91.2%。营业利润率为3%,自营门店营业利润率为13.5%。同店销售增长为13.5%,净新增店铺数量为2,975家。此外,月均成交客户超过6200万人次。我们的首席财务官安静将在本次电话会议上分享更多财务细节。

[Foreign Language]

I'm sorry, I don't understand which language you want me to translate into Chinese. Could you please provide more context or repeat the phrase in English?

Looking back at 2023, Luckin Coffee made breakthrough progress, achieving several remarkable milestones in the Chinese coffee market. Our revenue surpassed RMB20 billion with operating profits exceeding RMB3 billion, achieved significant growth compared to 2022. In 2023, we opened over 8,000 new stores, bringing our total store count to over 16,000, reinforcing our position as the coffee chain brand with the largest number of stores in China.

回顾2023年,瑞幸咖啡取得了突破性进展,在中国咖啡市场实现了几个显著的里程碑。我们的营业收入超过200亿元人民币,运营利润超过30亿元人民币,相较于2022年取得了显著增长。2023年,我们新开了超过8,000家门店,使我们的总门店数超过16,000家,巩固了我们作为中国拥有最多门店数量的咖啡连锁品牌的地位。

Meanwhile, our total cumulative transacting customers reached 230 million, firmly placing us in a leading position in the industry. These achievements would not have been possible without the support of our shareholders, partners and the dedication of nearly 110,000 Luckin employees who have accompanied us every step of the way, working diligently to drive the company forward. We express our heartfelt gratitude to all of you.

与此同时,我们累计交易客户达到了2.3 亿,坚定地将我们置于行业领先地位。这些成就离不开股东、合作伙伴的支持,以及近 11 万名瑞幸员工的奉献,他们伴随我们一路前行,勤奋工作,推动公司不断发展。我们对大家表示衷心的感谢。

[Foreign Language]

Sure, could you please provide the text you would like me to translate into Chinese?

In the fourth quarter, Luckin Coffee added 2,975 new stores, bringing the total domestic store count to 16,218, maintaining our leading position in the market. Among the total number of stores, there were 10,598 self-operated stores and 5,620 partnership stores. As competition intensifies in the Chinese coffee market, we will continue to closely monitor customer demands and store quality.

在第四季度,瑞幸咖啡新增了2,975家门店,使国内门店总数达到16,218家,保持了我们在市场上的领先地位。在所有门店中,有10,598家自营门店和5,620家合作门店。随着中国咖啡市场竞争的加剧,我们将继续密切关注客户需求和门店质量。

Additionally, we plan to further increase the number of stores in high-tier cities and accelerate expansion into lower tier city markets through the partnership model to expand our market share. We anticipate that by 2024, the number of Luckin Coffee stores will surpass 20,000.

另外,我们计划通过合作模式在高端城市进一步增加门店数量,并加速扩大到下线城市市场,以扩大我们的市场份额。我们预计到2024年,瑞幸咖啡的门店数量将超过20,000家。

In terms of the development of our overseas markets, in the fourth quarter, Luckin Coffee has reached a total of 30 stores in Singapore, adding 12 new stores from the third quarter. In the future, we will continue to expand our footprint in the Singapore market, optimizing our store model while also eyeing other overseas markets, including, but not limited to, Southeast Asia.

就海外市场的发展而言,在第四季度,瑞幸咖啡在新加坡已经达到了30家门店,比第三季度增加了12家新店。未来,我们将继续扩大在新加坡市场的业务范围,优化我们的店铺模式,并且还将考虑进军其他海外市场,包括但不限于东南亚地区。

Our goal is to allow more consumers to enjoy our high-quality coffee worldwide.

我们的目标是让更多的消费者在全球范围内享受到我们高质量的咖啡。

[Foreign Language]

What language would you like the text to be translated into?

In terms of product, Luckin Coffee launched 102 new products in 2023. The number of total items sold in 2023 exceeding 2 billion with a number of freshly made beverages sold surpassed 1.9 billion cups. By the end of 2023, Luckin Coffee had eight SKUs with sales exceeding 100 million units. In addition, the Jiangxiang Flavored Latte broke our single item sales record selling 45.83 million cups throughout the year. This resulted in its single item sales revenue, surpassing RMB900 million and earning numerous industry awards, including the 2023 EDG Awards annual high-quality product.

在产品方面,瑞幸咖啡在2023年推出了102款新产品。2023年销售的总货物数量超过20亿,其中新鲜制作的饮料数量超过19亿杯。到2023年底,瑞幸咖啡有8种单品SKU的销量超过1亿单位。此外,江香风味拿铁打破了我们的单品销售记录,全年销售4583万杯。这导致其单品销售收入超过9亿元人民币,并赢得了众多行业奖项,包括2023 EDG奖年度高品质产品。

Moving forward, we will continue to uphold product innovation, consistently providing customers with higher quality and more satisfying consumption experiences. Thanks to the dual effect of accelerated store expansion and continuous product innovation, Luckin Coffee acquired over 26 million new transacting customers during this quarter, with our average monthly transacting customers exceeding 62 million.

未来,我们将继续秉承产品创新,不断为客户提供更高质量和更令人满意的消费体验。得益于加速店铺扩张和持续产品创新的双重效应,瑞幸咖啡本季度获得了超过2600万新交易客户,我们的平均月交易客户超过6200万。

Throughout 2023, we had more than 95 million new transacting customers, marking another historic high. Along with the continuous growth of new customers, we have been consistently promoting our brand and deepening the popularization of coffee culture.

在2023年,我们获得了超过9500万名新交易客户,创下了另一个历史新高。随着新客户的持续增长,我们一直在持续推广我们的品牌,并深化咖啡文化的普及。

This year, Luckin Coffee became the Australian Open's official coffee partner in China and Southeast Asia.

今年,瑞幸咖啡成为澳网在中国和东南亚地区的官方咖啡合作伙伴。

全部讨论

蜜蜂投资路02-25 18:19

啊哈杀气概况02-25 15:16

seaking alpha有transcript

蜜蜂投资路02-24 20:33

没有问答环节吗?

啊哈杀气概况02-24 10:09

感谢分享

开放的心02-24 09:50

随着中国咖啡市场竞争的加剧