By the end of the quarter, Luckin operated 36,310 stores worldwide and had served nearly 500 million cumulative transacting customers. Revenue from self-operated stores reached RMB 11.6 billion (USD 1.7 billion), up 26.6% YoY. Revenue from partnership stores rose 27.9% to RMB 3.7 billion (USD 547.1 million), while gross merchandise value increased 29.8% to RMB 18.4 billion (USD 2.7 billion). The company said it plans to continue expanding its customer reach and strengthening its position in China’s specialty coffee market. “We have always believed that the ceiling for China’s coffee store market remains extremely high.