2025年Q2瑞幸咖啡财务报告

noilliB7.1BMRotraeY-revo-raeY%8.16ybdesaercnIemocnIgnitarepOPAAGnoilliB4.21BMRotraeY-revo-raeY%1.74ybdesaercnIseuneveRteN .5202,03enuJdedneshtnomeerhtehtrofstluserlaicnanifdetiduanustidecnuonnayadot)YCNKL:CTO()”ynapmoC“ehtro”eeffoCnikcuL“(.cnIeeffoCnikcuL—)ERIWSWENEBOLG(5202,03yluJ,GNIJIEB · ,serotspihsrentrap832,9dnaserotsdetarepo-fles869,61gnisirpmoc,dneretrauqdnocesehtta602,62otdesaercniserotsforebmunlatoT.S.Uehtniserots2dnaaisyalaMniserots61,eropagniSniserots6,)gnoKgnoHgnidulcni(anihCniserots580,2gnisirpmoc,901,2erewsgninepoerotswenteN· .4202foretrauqemasehtni%9.02evitagen· · · snoitidnoctekramgnivloveetagivanotdenoitisoplleweraew,sthgisniresupeeddna,noitavonnitcudorpgniunitnoc,egatnavdaelacsruoybdekcaB.erahstekramruognidnapxeotdettimmocniamerew,daehagnikooL.serotsdetarepo-flesruonihtworgselaserots-emastigid-elbuoddeveihcadnamutnemomyrtsudninodezilatipacew,niahcylppusdna,tnemllifluf,ycneiciffelanoitarepo,elacsnishtgnertsruognigarevelyB.retrauqdnocesehtnisnigramgnitarepodevorpmidnahtworgeuneverdetareleccaygetartsnevird-elacsafonoitucexedesucofruO“,dias,eeffoCnikcuLfoOECdnarednuof-oC,ouGiyniJ.rD SECOND QUARTER 2025 FINANCIAL RESULTS Total net revenueswere RMB12,358.7 million (US$1,723.2 million), representing an increase of 47.1% from RMB8,402.6 million in the same quarter of2024. Net revenues growth was primarily driven by a 46.2% year-over-year increase in GMV, which reached RMB14.2 billion, as a result of an increase in ·Revenues from product saleswere RMB9,491.5 million (US$1,323.4 million), representing an increase of 44.9% from RMB6,552.4 million in thesame quarter of 2024. ·Net revenues from freshly brewed drinks increased to RMB8,670.6 million (US$1,208.9 million) from RMB6,014.0 million in the same quarter of2024. This revenue stream accounted for 70.2% of total net revenues, compared to 71.6% in the same quarter of 2024. ·Net revenues from other products increased to RMB614.7 million (US$85.7 million) from RMB404.4 million in the same quarter of 2024. Thisrevenue stream accounted for 5.0% of total net revenues, compared to 4.8% in the same quarter of 2024. ·Net revenues from others increased to RMB206.1 million (US$28.7 million) from RMB134.1 million in the same quarter of 2024. This revenuestream accounted for 1.6% of total net revenues, compared to 1.6% in the same quarter of 2024. ·Revenues from partnership storeswere RMB2,867.3 million (US$399.8 million), representing an increase of 55.0% from RMB1,850.2 million in thesame quarter of 2024. This revenue stream accounted for 23.2% of total net revenues, compared to 22.0% in the same quarter of 2024. Revenues frompartnership stores included sales of materials of RMB1,751.3 million (US$244.2 million), delivery service fees of RMB478.3 million (US$66.7 million), Total operating expenseswere RMB10,658.7 million (US$1,486.1 million), representing an increase of 45.0% from RMB7,351.9 million in the samequarter of 2024. The increase primarily resulted from the Company’s business expansion. Meanwhile, operating expenses as a percentage of net revenues Cost of materialswere RMB4,600.5 million (US$641.4 million), representing an increase of 36.6% from RMB3,368.2 million in the same quarter of2024. The increase was mainly due to increases in (i) the number of products sold and (ii) sales of materials to partnership stores. Store rental and other operating costswere RMB2,665.1 million (US$371.6 million), representing an increase of 30.0% from RMB2,050.2 million inthe same quarter of 2024. The increase mainly resulted from the increased number of stores and items sold which led to year-over-year increases in Depreciation and amortization expenseswere RMB375.4 million (US$52.3 million), representing an increase of 29.8% from RMB289.1 million inthe same quarter of 2024. The increase was mainly due to increases in (i) amortization of leasehold improvements for the stores and (ii) depreciation Delivery expenseswere RMB1,669.7 million (US$232.8 million), representing an increase of 175.1% from RMB606.9 million in the same quarter of2024. The increase was mainly due to the increase in the number of delivery orders. Sales and marketing expenseswere RMB592.5 million (US$82.6 million), representing an increase of 37.0% from RMB432.6 million in the samequarter of 2024. The increase was mainly driven by increases in (i) advertising and other promotion expenses and (ii) commissions to third-party food ·General and administrative expenseswere RMB736.2 million (US$102.6 million), representing an increase of 24.8% from RMB589.7 million in thesame quarter of 2024. The increase was mainly driven by increases in (i) payroll costs for general and administrative staff, (ii) share-based compensationfor management and employees, and (iii) research and development expenses. General and administrative expenses as a percentage of total net revenues Store preopening and other expenseswere RMB17.9 million (US$2.5 million), representing an increase of 28.0% from