May. 12 at 2:49 PM
$LKNCY At some point, expansion in China must slow down and become significantly stronger in other countries.
"On the one hand, the growth space of domestic existing coffee stores is not unlimited. Huayuan Securities has calculated that with the per capita disposable income of urban residents in 2024 as the benchmark, the maximum number of stores opened by Luckin is about 39,000, and the current scale of 31,000 stores has approached this critical point. At the same time, the dividends brought by relying solely on store encryption are weakening."
https://36kr.com/p/3805666999361027
