Many media outlets use the term 'China's version of Starbuck...

Many media outlets use the term 'China's version of Starbucks' to describe Luckin. In China, Luckin has indeed succeeded in surpassing Starbucks: born in 2017, Luckin officially surpassed Starbucks in terms of the number of stores in just over four years, becoming the largest chain coffee brand in China. As of the end of 2022, Luckin, with 8,214 stores in China, has further widened the gap between Starbucks and itself. For Luckin, going global is a key strategy for seeking a second growth curve. According to the financial report for the fourth quarter of 2022 and the full year of 2022 released by Luckin on March 2, 2023, the same-store sales growth rate of Luckin's self-operated stores from the second quarter to the fourth quarter of 2022 was 41.2%, 19.4%, and 9.2%, respectively, showing a clear slowdown trend.