China's Starbucks has arrived on Wall Street. Luckin Coffee begin trading on Friday and provided an immediate caffeine jolt to the market. The stock surged nearly 50% to $25 a share before pulling back. Shares closed up about 20%.
上周五，“中国的星巴克”进军华尔街并立即动摇了咖啡市场。它的股票最高时猛增50％，达到每股25美元。而收盘价大约上涨了20％。
Luckin Coffee, which is growing rapidly thanks to a focus on cheaper drinks, priced its initial public offering on the Nasdaq at $17 a share. That was at the high end of its range and it values Luckin Coffee (LK) at more than $4 billion. Luckin raised more than $570 million from the stock sale.
Luckin Coffee has quickly taken China by storm. The company, which was founded in October 2017, already has nearly 2,400 stores in 28 cities. That makes it second only to Starbucks (SBUX) in China.
致力于提供更便宜的饮料，瑞幸咖啡飞速发展。它于纳斯达克首次公开上市时，每股价格为17美元。这在纳斯达克交易所中位列高位且其咖啡估值超过40亿美元。通过出售股票，瑞幸咖啡筹集到超过5.7亿美元的融资。它以风卷残云之势征服了中国。这家公司成立于2017年10月，现已在28个城市拥有2400家分店。在中国，它已成为次于星巴克的第二大咖啡品牌。
But Luckin Coffee is likely to soon pass its larger rival. Luckin Coffee has plans to open 2,000 additional stores in the country by the end of the year, bringing its total to about 4,500 locations.
但瑞幸咖啡似乎即将超过它的最大对手。它计划于今年年底于中国多开2000家分店，所有分店总计有4500家。
It's an ambitious goal, especially since Chinese consumers aren't addicted to coffee as much as drinkers in the United States and other nations are. Tea is the beverage of choice.
这个目标极具挑战性，特别是由于中国消费者并不如美国和其他国家一样热衷于喝咖啡。茶是中国人的首选。
Taking China by storm with cheaper coffee
以更便宜的咖啡征服中国
Luckin Coffee cited data from consumer research firm Frost & Sullivan in its IPO filing with the Securities and Exchange Commission that showed Chinese consumers drank only six cups of coffee a year in 2018, compared to 279 for Japan, 388 in the US and a whopping 867 in Germany.
瑞幸咖啡引用消费者研究公司费若斯特沙利文公司的数据，并将其记录于美国证券交易管理委员会的首次公开募股的申报档案中。该数据显示，中国消费者于2018年人均仅喝6杯咖啡，美国388杯，日本279杯，德国则是惊人庞大的867杯。
But Luckin Coffee is hoping that the popularity of Starbucks in China, coupled with Luckin Coffee's plans to offer less expensive brews, will quickly create more coffee drinkers in mainland China.
尽管如此，伴随着星巴克在中国的知名度，加之瑞幸咖啡提供更便宜饮料的计划，瑞幸咖啡希望，这些举措能吸引更多中国人爱上喝咖啡。
After all, Frost & Sullivan said that consumers in nearby Taiwan and Hong Kong each drink more than 200 cups of coffee a year.
毕竟，费若斯特沙利文公司称，台湾及香港地区的人们平均每年喝200多杯咖啡。
Is it safe to own Chinese stocks during a trade war with the US?
Still, Luckin Coffee is tiny compared to Starbucks, which plans to expand even further in China as the US market matures. And like many other startup firms that have recently gone public — including Lyft (LYFT), Uber (UBER), Pinterest (PINS) and Beyond Meat (BYND) — Luckin Coffee is bleeding red ink.
中美贸易战白热化的背景下，买中国股票是否风险太高？
然而，瑞幸咖啡比起星巴克仍是力微势弱，在美国市场成熟的同时，它计划继续在中国扩张。并且，与其他许多新兴的上市公司――Lyft，Uber，Pinterest以及 Beyond Meat――相比，瑞幸咖啡入不敷出。
The company reported a net loss of $241.3 million last year on sales of just $125.3 million. Luckin Coffee lost another $82.2 million in the first quarter of 2019 on revenue of only $71.3 million.
该公司去年的净亏损额为2亿4130万，销售额仅为1亿2530万美元。2019年第一季度，瑞幸咖啡亏损8220万美元，销售额仅为7130万美元。
Luckin will lose money to gain market share
为赢取市场份额，瑞幸咖啡将入不敷出地疯狂投资
Luckin Coffee says this trend will continue, as it plans more store openings and increased marketing while also keeping its coffee prices more affordable in order to steal customers from Starbucks.
瑞幸咖啡称该趋势将持续下去，因为它计划新开张更多门店并增加市场营销的支出，与此同时，为抢夺星巴克的客户，咖啡售价将下调。
"We intend to further increase our brand awareness, expand our customer base and store network, and expect to continue to invest heavily in offering discounts and deals," the company said in its SEC filing.
“我们想要进一步提升我们的品牌知名度，扩大我们的客户群以及门店网络，并预计将继续为提供折扣、获得更多交易而大量投资，”该公司在其美国证监会申报档案中如是称。
Luckin Coffee chief financial officer Reinout Schakel reiterated this in an interview with CNN's Julia Chatterley on Friday. He said the company wants to "help people save money."
周五，瑞幸咖啡首席财政官Reinout Schakel在一次面对CNN记者Julia Chatterley的采访中再次重申了这一点。他说，公司想要“帮人们省钱”。
Chinese consumers love the coupons
中国消费者喜欢优惠券
He also brushed off concerns about the trade war with the United States, saying that because the company already does a good job of keeping costs low and is selling its coffee at a discount to Starbucks, there should be little impact on its sales and customer base.
他也消除了中美贸易战的疑虑，声称这是由于公司已然在保持低价成本上表现出色，同时也正在以比星巴克更低的折扣价格销售咖啡，因而公司的销售额与客户群受到的影响微乎其微。
To that end, Chinese consumers in Beijing told CNN that price is one of Luckin Coffee's biggest selling points.
"It has great value. A Starbucks coffee usually costs around 40 yuan (nearly $6 USD). Here we use coupons a lot. It's usually around 20 with discounts. So value is the first consideration," said Terasa Wang, a sales manager.
为此，位于北京的中国消费者告诉CNN称，价格是瑞幸咖啡的一大卖点。
一位销售经理Terasa Wang说道：“它有着巨大的价值。一杯星巴克咖啡一般要40元左右（将近6美元）。而我们提供大量优惠券。一般来说，会有20元左右的折扣。因此，价值是首先需要考虑到的。”
Shilu Wang, a director and producer, added that she was first attracted to Luckin Coffee "because it gave me lots of coupons, like the first free orders. No other coffee brand does that." She added that "the taste is good for the price" and that delivery was fast.
So it looks like Starbucks is going to have a tough battle with Luckin Coffee for the foreseeable future.
作为一名导演和制片人，Shilu Wang补充说，她一开始就被瑞幸咖啡所吸引，因为“它给了我大量优惠券，比如首单免单之类的。没有其他的咖啡品牌会做这类事。”她还补充说，“价格虽低，味道却好”且送餐速度快。
这样一来，在不久的将来，星巴克与瑞幸咖啡将要展开一场硬仗。
来源|CNN
编译：谢伊雯
排版：谢伊雯
指导老师：刘佳
