Luckin Coffee Posts Record Profit and Announces US$500 Million Share Buyback

Chinese coffee giant Luckin Coffee (OTC: LKNCY) posted blockbuster Q3 2026 results, sending its shares surging as much as 7% to US$33.49 on Tuesday.

Total net revenue rose 17% year over year to US$2.666 billion, while non-GAAP net profit jumped 51% to a record RMB 2.145 billion.

• Store-level operating profit at self-operated locations increased 55.5% year over year to RMB 3.019 billion, reflecting cost discipline and improved margins.
• Average monthly transacting customers reached a record 123 million, up 9.6% year over year.
• Luckin added nearly 2,600 net new stores, bringing its global total to 38,900 locations.
• Gross merchandise value grew nearly 20% to RMB 20.7 billion.

To reward shareholders, co-founder and CEO Guo Jinyi announced that the board had approved a new US$500 million share buyback programme lasting one year. The programme is set to begin once the existing buyback authorization has been fully utilized.

As of September 30, Luckin had repurchased approximately 96 million Class A ordinary shares for US$391 million under its current programme.

Source: The Standard, November 4, 2026