Luckin Coffee Inc. Files Annual Report on Form 20-F

TL;DR

<b>Luckin Coffee Inc. has submitted its 2023 annual report on Form 20-F, detailing financial performance and corporate actions.</b>

AI Summary

Luckin Coffee Inc. (LKNCY) filed a Foreign Annual Report (20-F) with the SEC on April 8, 2024. Luckin Coffee Inc. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing includes financial data and disclosures for the period. Key dates related to the company's stock offerings and agreements are referenced. Information on convertible preferred stock and common stock is detailed. The report covers various equity components such as Additional Paid-In Capital and Retained Earnings.

Why It Matters

For investors and stakeholders tracking Luckin Coffee Inc., this filing contains several important signals. This filing provides investors with the latest audited financial statements and disclosures, crucial for assessing the company's performance and future prospects. The detailed information on equity structure and historical stock events helps in understanding the company's capital evolution and market activities.

Risk Assessment

Risk Level: — Luckin Coffee Inc. shows moderate risk based on this filing. The company has a history of financial irregularities and regulatory scrutiny, which could pose ongoing risks to its operations and investor confidence.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 20-F to understand Luckin Coffee's current financial health and operational risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-08 — Filing Date (Date the report was filed)
• 001-38896 — SEC File Number (SEC file number for Luckin Coffee Inc.)

Key Players & Entities

• Luckin Coffee Inc. (company) — Filer of the 20-F report
• 2023 (date) — Fiscal year end
• 2024-04-08 (date) — Filing date
• 1934 Act (regulator) — Act under which the filing was made
• XIAMEN, FUJIAN (location) — Business address city and state

FAQ

Industry Context

Luckin Coffee operates in the highly competitive coffee and food and beverage retail sector, primarily in China.

Regulatory Implications

The company is subject to SEC regulations for foreign private issuers, requiring annual filings like the 20-F.

What Investors Should Do

1. Review the full 20-F filing for detailed financial statements and management discussion.
2. Analyze the company's equity structure and historical stock events for investment context.
3. Assess the risk factors section for potential operational and financial challenges.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-04-08: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual update for the fiscal year 2023, providing the latest financial and operational information compared to previous filings.

Key Financial Figures

• $0.000002 — ht Class A Ordinary Shares, par value US$0.000002 per share LKNCY Class A Ordinary Sh
• $0.001 — gel-1 and angel-2 shares of par value US$0.001 per share; "our mobile apps" refers to
• $ — lculating transacting customer; and "US$," "dollars" or "U.S. dollars" refers to
• $1 — nnual report are made at RMB7.0999 to US$1.00, the exchange rate set forth in the

Filing Documents

• lk-20231231x20f.htm (20-F) — 5345KB
• lk-20231231xex4d11.htm (EX-4.11) — 74KB
• lk-20231231xex8d1.htm (EX-8.1) — 15KB
• lk-20231231xex12d1.htm (EX-12.1) — 14KB
• lk-20231231xex12d2.htm (EX-12.2) — 14KB
• lk-20231231xex13d1.htm (EX-13.1) — 5KB
• lk-20231231xex13d2.htm (EX-13.2) — 5KB
• lk-20231231xex15d1.htm (EX-15.1) — 9KB
• lk-20231231xex15d2.htm (EX-15.2) — 12KB
• lk-20231231xex15d3.htm (EX-15.3) — 4KB
• lk-20231231xex15d4.htm (EX-15.4) — 5KB
• lk-20231231xex97.htm (EX-97) — 43KB
• lk-20231231x20f002.jpg (GRAPHIC) — 58KB
• lk-20231231x20f003.jpg (GRAPHIC) — 60KB
• lk-20231231x20f004.jpg (GRAPHIC) — 63KB
• lk-20231231x20f013.jpg (GRAPHIC) — 17KB
• lk-20231231x20f014.jpg (GRAPHIC) — 17KB
• lk-20231231x20f015.jpg (GRAPHIC) — 4KB
• lk-20231231x20f016.jpg (GRAPHIC) — 3KB
• lk-20231231xex15d1001.jpg (GRAPHIC) — 8KB
• lk-20231231xex15d1002.jpg (GRAPHIC) — 13KB
• lk-20231231xex15d1003.jpg (GRAPHIC) — 25KB
• lk-20231231xex15d2001.jpg (GRAPHIC) — 4KB
• lk-20231231xex15d3001.jpg (GRAPHIC) — 31KB
• lk-20231231xex15d4001.jpg (GRAPHIC) — 4KB
• 0001104659-24-044514.txt (&nbsp;) — 17481KB
• lk-20231231.xsd (EX-101.SCH) — 97KB
• lk-20231231_cal.xml (EX-101.CAL) — 84KB
• lk-20231231_def.xml (EX-101.DEF) — 402KB
• lk-20231231_lab.xml (EX-101.LAB) — 794KB
• lk-20231231_pre.xml (EX-101.PRE) — 610KB
• lk-20231231x20f_htm.xml (XML) — 2865KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 161 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 161 PART II 163 Item 13. Defaults, Dividend Arrearages and Delinquencies 163 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 163 Item 15.

Controls and Procedures Disclosure Controls and Procedures

Controls and Procedures Disclosure Controls and Procedures 163 Item 16.A. Audit Committee Financial Expert 164 Item 16.B. Code of Ethics 164 Item 16.C. Principal Accountant Fees and Services Auditor Fees 165 Item 16.D. Exemptions from the Listing Standards for Audit Committees 165 Item 16.E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 165 Item 16.F. Change in Registrant's Certifying Accountant 165 Item 16.G. Corporate Governance 166 Item 16.H. Mine Safety Disclosure 166 Item 16.I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 166 Item 16.J. Insider Trading Policy 166 Item 16.K. Cybersecurity 166 PART III 168 Item 17.

Financial Statements

Financial Statements 168 Item 18.

Financial Statements

Financial Statements 168 Item 19. Exhibits 168 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 i Table of Contents INTRODUCTION Except where the context otherwise requires and for purposes of this annual report only: "ADSs" refers to the American depositary shares, each representing eight of the Company's Class A Ordinary Shares; "Beijing Wholly Foreign Owned Enterprise", or "Beijing WFOE", refers to Beijing Luckin Coffee Co., Ltd.; "CAC" refers to the Cyberspace Administration of China; "CSRC" refers to the China Securities Regulatory Commission; "Certificate of Designation" refers to the certificate of designation dated November 30, 2021 that the Company adopted to create and issue a new series of preferred shares; "China" or "PRC" refers to the People's Republic of China; and only in the context of describing PRC laws, regulations and other legal or tax matters in this annual report, excludes Taiwan, Hong Kong, and Macau; "Class A Ordinary Shares" refers to the Company's Class A Ordinary Shares of par value US$0.000002 per share; "Class B Ordinary Shares" refers to the Company's Class B Ordinary Shares of par value US$0.000002 per share; "Company" refers to Luckin Coffee Inc., a Cayman Islands exempted company in which investors in the ADSs are purchasing an interest; it is a holding company that does not conduct operations; "former variable interest entity" or "Former VIE" refers to Beijing Luckin Coffee Technology Ltd., which is a PRC company whose financial results had been consolidated into our consolidated financial statements for accounting purposes for the years ended or as of December 31, 2021, 2022 and 2023, but has not been an entity in which we own equity interest; due to the termination of the contractual arrangements entered into by and among the Beijing WFOE, the Former VIE and its shareholders in March 2024, the financial results of the Former VIE will no longer be consolidated into our consolidated financial statements for

View Full Filing

View this 20-F filing on SEC EDGAR