Luckin Coffee Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	4,147	2,294	4,362	2,926	3,534	6,478
Short-Term Investments	4,144	5,907	1,378	564.02	-	-
Cash & Short-Term Investments	8,291	8,202	5,740	3,490	3,534	6,478
Cash Growth	39.73%	42.89%	64.48%	-1.26%	-45.44%	28.12%
Accounts Receivable	821.04	736.89	549.71	294.83	210.7	210.17
Other Receivables	-	84.48	19.59	4.18	0.2	4.36
Receivables	821.04	821.37	569.3	299.01	210.91	214.53
Inventory	3,913	3,091	2,627	2,339	1,315	672.67
Prepaid Expenses	2,590	450.06	309.22	273.27	206.06	234.89
Restricted Cash	5.99	5.36	3.78	66.08	7.86	58.2
Other Current Assets	-	1,862	1,482	1,133	762.82	725.43
Total Current Assets	15,620	14,431	10,732	7,600	6,037	8,383
Property, Plant & Equipment	14,333	13,927	11,003	9,356	3,871	3,043
Long-Term Investments	700	700	150	150	-	-
Other Intangible Assets	-	143.28	146.28	31.95	26.08	6.95
Long-Term Deferred Tax Assets	240.67	217.04	271.6	350.08	208.47	702.94
Other Long-Term Assets	996.88	883.01	823.48	804.4	337.42	176.42
Total Assets	31,890	30,302	23,126	18,292	10,480	12,312
Accounts Payable	1,370	1,104	738.68	814.66	441.38	293.7
Accrued Expenses	4,664	3,111	2,161	1,631	1,010	864.29
Short-Term Debt	-	-	300	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-	2,931
Current Portion of Leases	3,001	2,948	2,343	1,851	880.87	598.06
Current Income Taxes Payable	-	381.98	339.36	102.24	105.97	36.5
Current Unearned Revenue	172.68	156.29	153.25	123.42	97.37	96.21
Other Current Liabilities	147.86	805.59	653.69	940.44	293.52	1,771
Total Current Liabilities	9,356	8,507	6,689	5,463	2,829	6,592
Long-Term Debt	-	-	33.6	-	-	-
Long-Term Leases	4,351	4,316	3,331	3,115	1,024	575.06
Long-Term Deferred Tax Liabilities	390.92	339.8	-	-	-	-
Total Liabilities	14,098	13,162	10,053	8,578	3,853	7,167
Common Stock	0.03	0.03	0.03	0.03	0.03	0.02
Additional Paid-In Capital	17,460	17,278	16,705	16,277	16,037	15,038
Retained Earnings	-1,479	-1,985	-5,586	-8,538	-11,385	-11,874
Comprehensive Income & Other	296.39	331.64	438.54	396.94	397.3	466.86
Total Common Equity	16,278	15,625	11,558	8,136	5,049	3,631
Shareholders' Equity	17,792	17,139	13,073	9,714	6,627	5,146
Total Liabilities & Equity	31,890	30,302	23,126	18,292	10,480	12,312
Total Debt	7,353	7,264	6,008	4,966	1,905	4,105
Net Cash (Debt)	937.95	937.37	-267.67	-1,476	1,629	2,373
Net Cash Growth	301.53%	-	-	-	-31.35%	15.51%
Net Cash Per Share	2.91	2.92	-0.84	-4.66	5.18	8.89
Filing Date Shares Outstanding	323.71	323.21	320.18	319.28	314.37	303.55
Total Common Shares Outstanding	323.71	323.71	322.15	318.22	316.53	298.83
Working Capital	6,264	5,924	4,043	2,137	3,208	1,792
Book Value Per Share	50.28	48.27	35.88	25.57	15.95	12.15
Tangible Book Value	16,278	15,481	11,412	8,104	5,023	3,624
Tangible Book Value Per Share	50.28	47.82	35.42	25.47	15.87	12.13
Buildings	-	859.16	689.45	480.79	811.67	798.66
Machinery	-	4,918	3,878	2,815	1,599	1,443
Construction In Progress	-	380.67	152.98	345.9	53.1	15.05
Leasehold Improvements	-	4,379	3,140	2,235	1,127	873.45

Source: S&P Global Market Intelligence. Standard template. Financial Sources.