{"id":825770,"date":"2026-08-10T19:18:11","date_gmt":"2026-08-10T11:18:11","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=825770"},"modified":"2026-08-10T19:18:11","modified_gmt":"2026-08-10T11:18:11","slug":"%e6%88%91%e4%bb%ac%e5%9c%a8%e7%91%9e%e5%b9%b8%e7%9a%84%e4%ba%8c%e5%ad%a3%e6%8a%a5%ef%bc%8c%e7%9c%8b%e5%88%b0%e4%ba%86%e5%a2%9e%e9%80%9f%e8%a7%81%e9%a1%b6%e7%9a%84%e4%bf%a1%e5%8f%b7","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=825770","title":{"rendered":"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7"},"content":{"rendered":"<blockquote>\n<p>\u6587 | \u8d22\u62a5\u7eaa<\/p>\n<\/blockquote>\n<p>\u5317\u4eac\u65f6\u95f42026\u5e748\u67083\u65e5\u665a\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%91%9e%e5%b9%b8\" title=\"View all posts in \u745e\u5e78\" target=\"_blank\" class=\"tag_link\">\u745e\u5e78<\/a>\u5496\u5561\u53d1\u5e03\u4e862026\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8d22\u62a5\u3002\u8d22\u62a5\u53d1\u5e03\u524d\uff0c\u5728\u8425\u6536\u65b0\u9ad8\u7684\u9884\u671f\u4e0b\u5176\u80a1\u4ef7\u6301\u7eed\u8d70\u9ad8\uff0c\u7136\u800c\u4e8c\u5b63\u62a5\u9774\u5b50\u843d\u5730\u540e\uff0c\u8d44\u672c\u5e02\u573a\u9707\u8361\u52a0\u5267\u3001\u591a\u7a7a\u535a\u5f08\u6781\u5176\u7126\u707c\u3002<\/p>\n<p>2026\u5e74\u7b2c\u4e8c\u5b63\u5ea6\uff0c\u745e\u5e78\u5496\u5561\u5b9e\u73b0\u603b\u51c0\u8425\u6536158.86\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f28.5%\uff0c\u8425\u6536\u8868\u73b0\u8d85\u51fa\u5e02\u573a\u9884\u671f&mdash;&mdash;<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%bd%ad%e5%8d%9a\" title=\"View all posts in \u5f6d\u535a\" target=\"_blank\" class=\"tag_link\">\u5f6d\u535a<\/a>\u7edf\u8ba1\u7684\u5e02\u573a\u4e00\u81f4\u9884\u671f\u4e3a154.3\u4ebf\u5143\uff0c\u5b9e\u9645\u8d85\u51fa\u7ea64.6\u4ebf\u5143\u3002<\/p>\n<p>\u6bdb\u5229\u65b9\u9762\uff0c26\u5e74\u4e8c\u5b63\u5ea6\u6574\u4f53\u6bdb\u5229\u7387\u7ea661.5%\uff0c\u540c\u6bd4\u4e0a\u53471.7\u4e2a\u767e\u5206\u70b9\uff0c\u4ecd\u7ef4\u6301\u8f83\u9ad8\u6c34\u5e73\u3002<\/p>\n<p>\u5229\u6da6\u65b9\u9762\uff0c26\u5e74\u4e8c\u5b63\u5ea6\u5b9e\u73b0GAAP\u51c0\u5229\u6da614.86\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f16.1%\uff1bNon-GAAP\u51c0\u5229\u6da6\uff08\u5254\u9664\u80a1\u6743\u6fc0\u52b1\u7b49\u975e\u73b0\u91d1\u9879\u76ee\uff0917.53\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f22.8%\u3002\u51c0\u5229\u7387\u4e3a9.4%\uff0c\u8f832025\u5e74\u540c\u671f\u768410.4%\u4e0b\u964d\u7ea61\u4e2a\u767e\u5206\u70b9\u3002\u5229\u6da6\u589e\u901f\u4f4e\u4e8e\u8425\u6536\u589e\u901f\uff0c\u4e3b\u8981\u53d7\u5496\u5561\u8c46\u6210\u672c\u4e0a\u6da8\u53ca\u95e8\u5e97\u5feb\u901f\u6269\u5f20\u5e26\u6765\u7684\u8d39\u7528\u521a\u6027\u5f71\u54cd\u3002<\/p>\n<p>\u6574\u4f53\u6765\u770b\uff0c\u745e\u5e78\u5496\u55612026\u5e74Q2\u5728\u8425\u6536\u7aef\u5ef6\u7eed\u9ad8\u589e\u957f\u6001\u52bf\uff0c\u6838\u5fc3\u6307\u6807\u5747\u8d85\u51fa\u5e02\u573a\u9884\u671f\u3002<\/p>\n<p><em>(\u8d22\u62a5\u4e00\u56fe\u6d41\u5982\u4e0b\uff0c\u6570\u636e\u5747\u6765\u6e90\u4e8eWind\uff0c\u5355\u4f4d\u4ebf\u5143\uff0c\u4e0b\u540c\uff09<\/em><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/aa5c0c451481b8b337d215a1fa1c2c21_1786358790.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x585\/gravity\/center\/crop\/!1440x585&ext=.jpg\" width=\"1080\" height=\"439\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u6211\u4eec\u7684\u6838\u5fc3\u89c2\u70b9\u5982\u4e0b\uff1a<\/p>\n<p>\u5355\u5e97\u6548\u76ca\u663e\u73b0\u8fb9\u9645\u9012\u51cf\uff0c\u4f46\u89c4\u6a21\u6269\u5f20\u4f9d\u7136\u80fd\u6362\u53d6\u4e0d\u4fd7\u7684\u589e\u901f\u3002\u4e8c\u5b63\u5ea6\u8425\u6536\u8d85\u9884\u671f\u8fbe158.86\u4ebf\u5143\uff0c\u4f46\u4e3b\u8981\u7531\u5168\u56fd3.6\u4e07\u5bb6\u95e8\u5e97\u7684\u52a0\u901f\u52a0\u5bc6\u9a71\u52a8\uff1b\u8001\u5e97\u540c\u5e97\u589e\u957f\uff08SSSG -5.3%\uff09\u3001\u5355\u5e97\u65e5\u5747\u8425\u6536\uff08-9.5%\uff09\u4e0e\u5355\u5e97\u6708\u8986\u76d6\u5ba2\u6237\u6570\uff08-11.6%\uff09\u5747\u51fa\u73b0\u53cc\u4f4d\u6570\u4e0b\u6ed1\u3002<\/p>\n<p>\u6298\u6263\u6536\u7a84\u4e0e\u9ad8\u81ea\u63d0\u6bd4\uff0c\u63a8\u52a8\u76c8\u5229\u7aef&ldquo;\u964d\u672c\u589e\u6548&rdquo;\u3002\u5f97\u76ca\u4e8e\u5b9e\u9645\u5ba2\u5355\u4ef7\uff08ASP\uff09\u5fae\u5e45\u56de\u5347\u81f311.9-12.9\u5143\u533a\u95f4\uff0c\u4ee5\u53ca\u95e8\u5e97\u767e\u7c73\u8986\u76d6\u5e26\u6765\u7684&ldquo;\u4e0b\u697c\u81ea\u63d0&rdquo;\u5bf9\u9ad8\u6210\u672c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%a4%96%e5%8d%96\" title=\"View all posts in \u5916\u5356\" target=\"_blank\" class=\"tag_link\">\u5916\u5356<\/a>\u7684\u66ff\u4ee3\uff0c\u914d\u9001\u8d39\u7387\u540c\u6bd4\u5927\u964d3.3\u4e2a\u767e\u5206\u70b9\u81f310.2%\uff0cNon-GAAP\u51c0\u5229\u6da6\u8fbe17.53\u4ebf\u5143\uff08+22.8%\uff09\uff0c\u745e\u5e78\u6b63\u9010\u6e10\u6446\u8131&ldquo;9.9\u4ef7\u683c\u6218\u7684\u5f71\u54cd&rdquo;\u3002<\/p>\n<p>\u745e\u5e78\u4e8c\u5b63\u5ea6\u8d22\u62a5\u6574\u4f53\u6765\u770b\u662f\u4e0d\u9519\u7684\uff0c\u4f46\u53ea\u662f\u56de\u7b54\u4e86\u5e02\u573a\u62c5\u5fe7\u7684\u89c4\u6a21\u5316\u8fb9\u754c\u548c\u4ef7\u683c\u6218\u7684\u95ee\u9898\uff0c\u5355\u5e97\u576a\u6548\u7684\u6536\u7f29\uff0c\u4e5f\u5411\u5e02\u573a\u66b4\u9732\u4e86\u95ee\u9898\u3002<\/p>\n<h2><strong>\u89c4\u6a21\u5728\u6da8\uff0c\u5355\u5e97\u5728\u964d<\/strong><\/h2>\n<p>\u745e\u5e78\u672c\u5b63\u5ea6\u603b\u8425\u6536\u8d85\u51fa\u5e02\u573a\u9884\u671f\u30022026\u5e74\u7b2c\u4e8c\u5b63\u5ea6\uff0c\u516c\u53f8\u5b9e\u73b0\u51c0\u6536\u5165158.86\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f28.5%\uff1b\u540c\u671f\u6574\u4f53GMV\u8fbe184\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f29.8%\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/d5da6312291bd11302f4cef90318ea22_1786358790.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x741\/gravity\/center\/crop\/!1440x741&ext=.jpg\" width=\"1080\" height=\"556\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u6574\u4f53\u6765\u770b\uff0c\u672c\u5b63\u5ea6\u6536\u5165\u5448\u73b0\u4ee5\u89c4\u6a21\u6362\u589e\u957f\u7279\u5f81\uff0c\u603b\u91cf\u8868\u73b0\u4eae\u773c\uff0c\u4f46\u589e\u901f\u89c1\u9876\u4e0e\u5355\u5e97\u7a00\u91ca\u8868\u660e\u589e\u957f\u8d28\u91cf\u627f\u538b\u3002\u6211\u4eec\u4ece\u5206\u4e1a\u52a1\u6536\u5165\u7ed3\u6784\u4e0e\u95e8\u5e97\u7ecf\u8425\u8d28\u91cf\u4e24\u4e2a\u7ef4\u5ea6\u8fdb\u884c\u6df1\u5165\u5206\u6790\uff1a<\/p>\n<p>\u62c6\u5206\u6536\u5165\u6765\u770b\uff0c\u672c\u5b63\u5ea6\u4ea7\u54c1\u9500\u552e\u6536\u5165\uff08\u81ea\u8425\u95e8\u5e97\u53ca\u5b98\u65b9\u7ebf\u4e0a\u6e20\u9053\uff09\u548c\u516c\u53f8\u5408\u4f5c\u4f19\u4f34\u6536\u5165\uff08\u52a0\u76df\u6536\u5165\uff09\u5747\u5b9e\u73b0\u660e\u663e\u4e0a\u5347\u3002<\/p>\n<p>2026\u5e74Q2\u4ea7\u54c1\u9500\u552e\u6536\u5165\u5b9e\u73b0122.18\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f28.73%\uff0c\u4f46\u589e\u901f\u8f832025\u5e74\u540c\u671f\u4e0b\u6ed115.8\u4e2a\u767e\u5206\u70b9\uff0c\u5176\u4e2d\u73b0\u5236\u996e\u54c1\u6536\u5165\u8fbe111.55\u4ebf\u5143\uff0c\u5360\u6bd470.2%\u3002\u6838\u5fc3\u7684\u81ea\u8425\u95e8\u5e97\u6536\u5165\u5b9e\u73b0115.64\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f26.6%\uff0c\u81ea\u8425\u540c\u5e97\u9500\u552e\u589e\u957f\u7387\uff08SSSG\uff09\u7ea6\u4e3a-5.3%\uff0c\u8fde\u7eed\u4e09\u5b63\u5ea6\u4e0b\u6ed1\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/5d851d16dab365718d31dbec1234103a_1786358790.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x765\/gravity\/center\/crop\/!1440x765&ext=.jpg\" width=\"1080\" height=\"574\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u56fe\u8868\u6765\u6e90\uff1aLuckin Coffee Second Quarter 2026 Earnings Presentation<\/p>\n<p>\u540c\u671f\uff0c\u516c\u53f8\u5408\u4f5c\u4f19\u4f34\u6536\u5165\u5b9e\u73b036.68\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f27.94%\uff0c\u589e\u901f\u8f832025\u5e74\u540c\u671f\u5927\u5e45\u4e0b\u6ed127.03\u4e2a\u767e\u5206\u70b9\u3002\u5176\u4e2d\u52a0\u76df\u95e8\u5e97\u6536\u5165\u5b9e\u73b036.68\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f27.9%\uff0c\u589e\u901f\u8f8325Q2\u4e0b\u6ed127.1pct\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/7dcf3d6b0c673a983526f903aac91bbc_1786358790.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x724&ext=.jpg\" width=\"1080\" height=\"543\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u56fe\u8868\u6765\u6e90\uff1aLuckin Coffee Second Quarter 2026 Earnings Presentation<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/f9c7760b2bf1122cf7f335b925ae4998_1786358790.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x750\/gravity\/center\/crop\/!1440x750&ext=.jpg\" width=\"1080\" height=\"563\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u6536\u5165\u589e\u957f\u4e3b\u8981\u7531\u95e8\u5e97\u89c4\u6a21\u6269\u5f20\u4e0e\u6708\u5747\u4ea4\u6613\u5ba2\u6237\u6570\u7684\u63d0\u5347\u5171\u540c\u5e26\u52a8\uff1a<\/p>\n<p>2026\u5e74Q2\u745e\u5e78\u5168\u7403\u95e8\u5e97\u603b\u6570\u8fbe36,310\u5bb6\uff0c\u672c\u5b63\u5ea6\u51c0\u589e2,714\u5bb6\u3002\u5176\u4e2d\uff0c\u81ea\u8425\u95e8\u5e97\u6570\u8fbe23,734\u5bb6\uff0c\u52a0\u76df\u95e8\u5e97\u6570\u8fbe12,576\u5bb6\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/1087b978d2a435a913ce49cd5555e5aa_1786358790.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x748&ext=.jpg\" width=\"1080\" height=\"561\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/0bc08514773598b1998f075b0e14d6df_1786358790.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x746\/gravity\/center\/crop\/!1440x746&ext=.jpg\" width=\"1080\" height=\"560\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u672c\u5b63\u5ea6\u6708\u5747\u4ea4\u6613\u5ba2\u6237\u6570\u8fbe1.127\u4ebf\u4eba\uff0c\u540c\u6bd4\u589e\u957f22.9%\uff0c\u5355\u5b63\u5ea6\u65b0\u589e\u4ea4\u6613\u5ba2\u6237\u8d852,500\u4e07\u4eba\u3002\u622a\u81f32026\u5e74\u4e8c\u5b63\u5ea6\u672b\uff0c\u745e\u5e78\u7d2f\u8ba1\u4ea4\u6613\u5ba2\u6237\u6570\u5df2\u63a5\u8fd15\u4ebf\u4eba\uff0c\u5ba2\u6237\u6708\u5747\u6d88\u8d39\u676f\u91cf\u521b\u5386\u53f2\u65b0\u9ad8\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/f4c63aa7e3dd677bfbfd29522ba1a55f_1786358791.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x1627\/gravity\/center\/crop\/!1440x1627&ext=.jpg\" width=\"437\" height=\"494\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u56fe\u8868\u6765\u6e90\uff1aLuckin Coffee Second Quarter 2026 Earnings Presentation<\/p>\n<p><strong>\u89c4\u6a21\u6301\u7eed\u6500\u5347\u7684\u53e6\u4e00\u9762\uff0c\u662f\u6536\u5165\u589e\u901f\u653e\u7f13\u4e0e\u5355\u5e97\u6548\u76ca\u4e0b\u6ed1\u7684\u540c\u6b65\u663e\u73b0\u3002\u6838\u5fc3\u539f\u56e0\u6765\u81ea\u4e24\u65b9\u9762\uff1a<\/strong><\/p>\n<p><strong>\uff081\uff09\u5916\u90e8\u56e0\u7d20\uff1a2025\u5e74Q2\u9ad8\u57fa\u6570\u6548\u5e94\u7684\u6d88\u5316<\/strong>\u30022025\u5e74\u540c\u671f\u53d7\u5916\u5356\u5e73\u53f0\u8865\u8d34\u5927\u6218\u5f71\u54cd\uff0c\u6781\u5927\u62c9\u52a8\u4e86\u7ebf\u4e0a\u6210\u4ea4\u91cf\u4e0eGMV\u7684\u7206\u53d1\u5f0f\u589e\u957f\uff0c\u4ece\u800c\u5f62\u6210\u4e86\u57fa\u6570\u9ad8\u58c1\u5792\u3002<\/p>\n<p><strong>\uff082\uff09\u5185\u90e8\u56e0\u7d20\uff1a\u95e8\u5e97\u5bc6\u5ea6\u589e\u52a0\u5e26\u6765\u7684&ldquo;\u5185\u90e8\u5206\u6d41\u6548\u5e94&rdquo;<\/strong>\u3002\u7ed3\u5408\u95e8\u5e97\u4e0e\u7528\u6237\u6570\u636e\uff0c\u6211\u4eec\u5206\u522b\u6d4b\u7b97\u4e86\u745e\u5e78\u672c\u5b63\u5ea6\u7684\u5355\u5e97\u4ea7\u51fa\u4e0e\u5355\u5e97\u6708\u5747\u670d\u52a1\u5ba2\u6237\u6570\uff0c\u7ed3\u679c\u8868\u660e\u52a0\u5bc6\u5f00\u5e97\u5e26\u6765\u7684\u5e97\u5747\u6548\u76ca\u7a00\u91ca\u8f83\u660e\u663e\uff1a<\/p>\n<p>\u5355\u5e97\u4ea7\u51fa\u65b9\u9762\uff0c2026\u5e74Q2\u81ea\u8425\u95e8\u5e97\u5355\u5e97\u5b63\u5747\u8425\u6536\u7ea648.7\u4e07\u5143\uff0c\u5355\u5e97\u65e5\u5747\u8425\u6536\u7ea65,414\u5143\u3002\u56de\u6eaf2025\u5e74Q2\uff0c\u81ea\u8425\u95e8\u5e97\u6536\u516591.36\u4ebf\u5143\uff0c\u671f\u672b\u81ea\u8425\u95e8\u5e9716,968\u5bb6\uff0c\u5355\u5e97\u5b63\u5747\u8425\u6536\u7ea653.8\u4e07\u5143\uff0c\u5355\u5e97\u65e5\u5747\u8425\u6536\u7ea65,982\u5143\u3002\u5355\u5e97\u65e5\u8425\u6536\u540c\u6bd4\u4e0b\u964d\u7ea69.5%\u30022026Q2\u81ea\u8425\u95e8\u5e97\u6570\u91cf\u540c\u6bd4\u589e\u957f\u7ea640%\uff0c\u800c\u81ea\u8425\u95e8\u5e97\u603b\u6536\u5165\u4ec5\u589e\u957f26.6%&mdash;&mdash;\u95e8\u5e97\u589e\u901f\u8dd1\u8d62\u6536\u5165\u589e\u901f\uff0c\u5355\u5e97\u4ea7\u51fa\u7684\u4e0b\u6ed1\u51e0\u4e4e\u6210\u4e3a\u5fc5\u7136\u3002<\/p>\n<p>\u5355\u5e97\u8986\u76d6\u7528\u6237\u6570\u65b9\u9762\uff0c\u82e5\u4ee5\u5b63\u5ea6\u5e73\u5747\u95e8\u5e97\u657034,953\u5bb6\u4f30\u7b97\uff0c\u672c\u5b63\u5ea6\u5355\u5e97\u6708\u5747\u670d\u52a1\u4ea4\u6613\u5ba2\u6237\u6570\u7ea6\u4e3a3,224\u4eba\uff0c\u8f832025\u5e74\u540c\u671f\u76843,646\u4eba\/\u5e97\/\u6708\u4e0b\u6ed1\u7ea611.6%\u3002\u603b\u95e8\u5e97\u6570\u540c\u6bd4\u6269\u5927\u4e86\u7ea639%\uff0c\u4ea4\u6613\u5ba2\u6237\u603b\u6570\u4ec5\u589e\u957f\u7ea623%&mdash;&mdash;\u95e8\u5e97\u589e\u901f\u663e\u8457\u8dd1\u8d62\u5ba2\u6237\u589e\u901f\uff0c\u5355\u5e97\u8986\u76d6\u7528\u6237\u6570\u7684\u4e0b\u964d\u5728\u6240\u96be\u514d\u3002<\/p>\n<p>\u672c\u5b63\u5ea6\u745e\u5e78\u901a\u8fc7\u9ad8\u5bc6\u5ea6\u7684\u5f00\u5e97\u7f51\u7edc\u548c\u5e9e\u5927\u7684\u65b0\u589e\u7528\u6237\u7ef4\u6301\u4e86\u6574\u4f53\u8425\u6536\u7684\u589e\u957f\uff0c\u4f46\u8001\u5e97\u540c\u5e97\u589e\u957f\u627f\u538b\u3001\u5355\u5e97\u4ea7\u51fa\u4e0e\u5355\u5e97\u670d\u52a1\u4eba\u6b21\u53cc\u53cc\u4e0b\u884c\uff0c\u8868\u660e\u516c\u53f8\u6b63\u9762\u4e34&ldquo;\u589e\u5e97\u4e0d\u589e\u6548&rdquo;\u7684\u8fb9\u9645\u6548\u76ca\u9012\u51cf\u6311\u6218\u3002<\/p>\n<h2><strong>\u4ef7\u683c\u6218\u9000\u573a\uff0c\u76c8\u5229\u4fee\u590d\u8d85\u9884\u671f<\/strong><\/h2>\n<p>\u672c\u5b63\u5ea6\u745e\u5e78\u5496\u5561\u5b9e\u73b0\u6bdb\u5229\u7ea697.7\u4ebf\uff0c\u6574\u4f53\u6bdb\u5229\u738761.5%\uff0c\u5728\u884c\u4e1a\u5185\u5904\u4e8e\u9886\u5148\u6c34\u5e73\u3002\u76f8\u8f83\u4e8e2025\u5e74\u540c\u671f\uff0c\u6bdb\u5229\u7387\u540c\u6bd4\u4e0a\u5347\u7ea61.7\u4e2a\u767e\u5206\u70b9\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/f64e5b29bafbedccd00f017b4cd1fe1e_1786358791.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x738\/gravity\/center\/crop\/!1440x738&ext=.jpg\" width=\"1080\" height=\"554\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p><strong>\u672c\u5b63\u5ea6\u6bdb\u5229\u7a7a\u95f4\u6539\u5584\uff0c\u4e3b\u8981\u57fa\u4e8e\u5b9e\u9645\u5ba2\u5355\u4ef7\uff08ASP\uff09\u56de\u5347\u4e0e\u6298\u6263\u63a7\u5236\u3002<\/strong>\u76f8\u8f83\u4e8e\u6b64\u524d\u5168\u7f51\u65e0\u5dee\u522b&ldquo;9.9\u5143\/\u676f&rdquo;\u7684\u6fc0\u8fdb\u8865\u8d34<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%ad%96%e7%95%a5\" title=\"View all posts in \u7b56\u7565\" target=\"_blank\" class=\"tag_link\">\u7b56\u7565<\/a>\uff0c\u672c\u5b63\u5ea6\u745e\u5e78\u5728\u4ea7\u54c1\u5b9a\u4ef7\u4e0a\u8fdb\u884c\u4e86\u66f4\u7cbe\u7ec6\u5316\u7684\u5206\u5c42\u3002\u90e8\u5206\u5e38\u89c4\u4ea7\u54c1\u53ca\u7206\u6b3e\u4ea7\u54c1\u901a\u8fc7\u51cf\u5c11\u5927\u989d\u4f18\u60e0\u5238\u53d1\u653e\u3001\u63d0\u9ad8\u5b9e\u9645\u5b9e\u4ed8\u95e8\u69db\uff08\u5982\u63d0\u5347\u81f311.9\u5143\/12.9\u5143\u533a\u95f4\uff09\u5b9e\u73b0\u4e86ASP\u7684\u5c0f\u5e45\u56de\u5347\u3002<\/p>\n<p>\u4e8c\u5b63\u5ea6\u539f\u6750\u6599\u6210\u672c\u76f8\u5bf9\u56fa\u5b9a\uff0c\u6750\u6599\u6210\u672c\u7387\u540c\u6bd4\u4e0a\u53471.7\u4e2a\u767e\u5206\u70b9\u81f338.6%\uff0c\u6536\u5165\u7aef\u7684\u9ad8\u901f\u6269\u5f20\u644a\u8584\u4e86\u6750\u6599\u6210\u672c\u4e0a\u6da8\u7684\u538b\u529b\uff0c\u4f7f\u6bdb\u5229\u7387\u4ecd\u4fdd\u6301\u5728\u9ad8\u4f4d\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/347121b024dd039a10d7322eb3204b36_1786358791.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x1924\/gravity\/center\/crop\/!1440x1924&ext=.jpg\" width=\"339\" height=\"453\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u56fe\u8868\u6765\u6e90\uff1aLuckin Coffee Second Quarter 2026 Earnings Presentation<\/p>\n<p>\u51c0\u5229\u6da6\u65b9\u9762\uff0c\u672c\u5b63\u5ea6GAAP\u51c0\u5229\u6da614.86\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f16.1%\uff1bNon-GAAP\u51c0\u5229\u6da617.53\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f22.8%\u3002\u51c0\u5229\u7387GAAP\u53e3\u5f84\u4e3a9.4%\uff0c\u8f832025\u5e74\u540c\u671f\u768410.4%\u4e0b\u6ed1\u7ea61\u4e2a\u767e\u5206\u70b9\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/1bbfdc82e18917884f94e03a2095d687_1786358791.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x733\/gravity\/center\/crop\/!1440x733&ext=.jpg\" width=\"1080\" height=\"550\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>\u672c\u5b63\u5ea6\u51c0\u5229\u6da6\u7684\u5927\u5e45\u63d0\u5347\uff0c\u5f88\u5927\u7a0b\u5ea6\u4e0a\u5f97\u76ca\u4e8e\u8d39\u63a7\u6709\u6548\uff0c\u5177\u4f53\u4f53\u73b0\u5728\u914d\u9001\u8d39\u7528\u7684\u4f18\u5316\u4e0a\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/80b2febaee2465d4077de871e57923c6_1786358791.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x737\/gravity\/center\/crop\/!1440x737&ext=.jpg\" width=\"1080\" height=\"553\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>2026\u5e74Q2\u914d\u9001\u8d39\u752816.19\u4ebf\u5143\uff0c\u8d39\u738710.2%\uff0c\u540c\u6bd4\u4e0b\u6ed13.3\u4e2a\u767e\u5206\u70b9\u3002\u914d\u9001\u8d39\u7387\u56de\u843d\uff0c\u539f\u56e0\u6709\u4e8c\uff1a<\/p>\n<p>\u4e00\u662f\u968f\u7740<strong>\u5916\u5356\u8865\u8d34\u9000\u6f6e<\/strong>\uff0c\u5916\u5356\u8ba2\u5355\u5360\u6bd4\u663e\u8457\u56de\u843d\uff0c\u65e0\u9700\u652f\u4ed8\u914d\u9001\u8d39\u7528\u7684\u5230\u5e97\u81ea\u63d0\u8ba2\u5355\u5360\u6bd4\u5927\u5e45\u62ac\u5347\u3002\u7531\u4e8e\u81ea\u63d0\u8ba2\u5355\u5b8c\u5168\u4e0d\u4ea7\u751f\u7b2c\u4e09\u65b9\u914d\u9001\u5c65\u7ea6\u6210\u672c\uff0c\u8ba2\u5355\u7ed3\u6784\u7684\u8f6c\u578b\u76f4\u63a5\u62c9\u4f4e\u4e86\u6574\u4f53\u914d\u9001\u8d39\u7387\u3002<\/p>\n<p>\u4e8c\u662f<strong>\u95e8\u5e97\u5bc6\u5ea6\u5e26\u6765\u7684&ldquo;\u51fa\u95e8\u5373\u81ea\u63d0&rdquo;\u66ff\u4ee3\u6548\u5e94<\/strong>\u3002\u745e\u5e78\u5927\u90e8\u5206\u95e8\u5e97\u533a\u57df\u5b9e\u73b0\u767e\u7c73\u8986\u76d6\uff0c\u539f\u672c\u9700\u8981\u4f9d\u8d56\u5916\u5356\u5c65\u7ea6\u7684\u573a\u666f\u88ab\u4fbf\u6377\u7684&ldquo;\u4e0b\u697c\u81ea\u63d0&rdquo;\u76f4\u63a5\u66ff\u4ee3\u3002\u6d88\u8d39\u8005\u81ea\u63d0\u610f\u613f\u589e\u5f3a\uff0c\u4ece\u6839\u672c\u4e0a\u524a\u5f31\u4e86\u5bf9\u5916\u5356\u914d\u9001\u7684\u4f9d\u8d56\u3002<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/08\/6b3376ca42a696e2050e4524982abfab_1786358792.jpg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x736&ext=.jpg\" width=\"1080\" height=\"552\" alt=\"\u6211\u4eec\u5728\u745e\u5e78\u7684\u4e8c\u5b63\u62a5\uff0c\u770b\u5230\u4e86\u589e\u901f\u89c1\u9876\u7684\u4fe1\u53f7\" style=\"display:block; margin-left:auto; margin-right:auto\" 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href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%b8%9a%e7%bb%a9\" title=\"View all posts in \u4e1a\u7ee9\" target=\"_blank\" class=\"tag_link\">\u4e1a\u7ee9<\/a>\u5151\u73b0\u7684&ldquo;\u4ef7\u503c\u91cd\u4f30&rdquo;\u683c\u5c40\u3002\u8fd9\u4efdQ2\u8d22\u62a5\u56de\u7b54\u4e86\u80fd\u4e0d\u80fd\u8d5a\u94b1\u7684\u95ee\u9898\uff0c\u4f46\u80fd\u4e0d\u80fd\u6301\u7eed\u8d5a\u66f4\u591a\u94b1\u7684\u7b54\u6848\uff0c\u8fd8\u8981\u518d\u7b49\u51e0\u4e2a\u5b63\u5ea6\u3002\uff08\u4f5c\u8005\uff1a\u661f\u79be\uff09<\/p>\n<p>(\u6765\u6e90\uff1a\u949b\u5a92\u4f53)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6587 | \u8d22\u62a5\u7eaa \u5317\u4eac\u65f6\u95f42026\u5e748\u67083\u65e5\u665a\uff0c\u745e\u5e78\u5496\u5561\u53d1\u5e03\u4e862026\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8d22\u62a5\u3002\u8d22\u62a5\u53d1\u5e03\u524d\uff0c\u5728\u8425\u6536\u65b0\u9ad8\u7684\u9884 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[71,266,153,131,330,88],"views":9,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/825770"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=825770"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/825770\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=825770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=825770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=825770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}