The company surpassed Starbucks in
Earnings report highlights include:
- Total net revenues rose 91.2% from
RMB3.695 billion in Q4 2022 toRMB7.065 billion ($995.1 million ) in Q4 2023, primarily driven by the increase in the number of products sold, the increase in stores in operation and the increase in the number of monthly transacting customers. -
Net income rose from
RMB54.5 million toRMB296.4 million ($41.7 million ) in the comparative quarters. -
Basic and diluted net income per ADS (American Depository Shares) remained at
RMB0.96 (16 cents ) from the prior year fourth quarter. - Net new store openings rose 22.4% to 16,248 stores in the comparative quarters which include 10,628 self-operated stores and 5,620 partnership stores.
- Average monthly transacting customers rose 154.2% from 24.6 million to 62.4 million.
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Revenues from self-operated stores rose 89.2% from
RMB2.69 billion toRMB5.103 billion ($718.8 million ). - Same-store sales growth for self-operated stores rose from 9.2% to 13.5%.
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Full-year revenue grew 87.3% from
RMB13.29 billion in 2022 toRMB24.9 billion ($3.507 billion ) in 2023. - Full-year new store openings rose 97.8% to 16,248 stores which include 10,628 self-operated stores and 5,620 partnership stores.
- Full-year average monthly transacting customers rose 124.1% from 21.6 million to 48.4 million.
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Full-year revenues from self-operated stores rose 82.7% from
RMB9.78 billion toRMB17.88 billion ($2.52 billion ).
Shares traded today at
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