Luckin is being investigated in the US for defrauding investors amid pressing concerns to recoup a dropoff in sales as a result of Covid-19.
The results reflect an improved cost control strategy.
The coffee upstart is expanding aggressively across product categories and markets.
Users can locate the nearest coffee machine and place an order through the Luckin app.
Luckin’s expansion to the Middle East and India extend its competition with Starbucks to more markets.
Luckin Coffee is projected to have the largest coffee network in China by the end of 2019 at its current rate of growth.
The IPO filing comes less a week after the company’s $150 million Series B+ that raised its valuation to $2.9 billion.
Chinese consumers have reacted positively to the brand, which positions itself as an alternative to Starbucks.
More and more fast-growing startups are headed to IPO while hemorrhaging money.
The news also immediately comes after a delivery partnership between Luckin and Meituan was announced in December 2018.