Luckin Coffee Appoints New Director to Board

BEIJING, Sept. 29, 2026 /CourierPR/ -- Luckin Coffee Inc., a company listed on the OTC market under the ticker symbol LKNCY, today announced the appointment of Mr. Philip Yifei Bao to its board of directors (the “Board”), effective September 29, 2026. The appointment follows Mr. Bao’s extensive experience investing in consumer businesses, his deep knowledge of the China market, and his broad global perspective, all of which will bring valuable insights to the Board. Mr. Bao, who is currently the Director of Private Equity China within the Private Equity platform of Mubadala Investment Company P.J.S.C. (Mubadala), leads Mubadala’s private equity investments in China. Prior to joining Mubadala, Mr. Bao worked in private equity and investment banking in London from 2011 to 2017. Mr. Bao holds Bachelor of Arts and Master of Engineering (Hons) degrees in Electrical and Electronic Engineering from Gonville and Caius College, University of Cambridge.

This appointment is part of Luckin Coffee’s ongoing strategy to enhance its board composition and ensure a diverse set of skills and experiences. The Board now consists of ten directors, including three independent directors.

The Securities Exchange Act of 1934, as amended, contains provisions for forward-looking statements, which are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance,” and similar statements. Luckin Coffee may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Any statements that are not historical facts, including statements about Luckin Coffee’s beliefs and expectations, are forward-looking statements. Luckin Coffee undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Luckin Coffee Inc. has pioneered a technology-driven retail network to provide coffee and other products of high quality, high convenience, and high affordability to customers. Empowered by proprietary technologies, Luckin Coffee pursues its vision to build a world-class coffee brand and become a part of everyone’s daily life. Founded in 2017, Luckin Coffee is based in China. For more information, please visit investor.lkcoffee.com.