NEW COVERAGE – LUCKIN COFFEE – 25,000 STORES SYSTEMWIDE (ALMOST ALL IN CHINA, NOW EXPANDING WORLDWIDE), GROWING BY 5,000 PER YEAR – EXTRAORDINARY GROWTH AND AGGRESSIVE PRICING SEEM “DISRUPTIVE” TO US – WITH $800M IN CASH, NO DEBT AND POSITIVE CASH FLOW (AFTER CAPEX) THEY ARE NOT GOING AWAY – NO OTHER RECOGNIZED U.S. RESTAURANT ANALYST COVERS IT BUT YOU CAN BET THAT SBUX, BROS, DUNKIN’ AND HORTON’S ARE PAYING ATTENTION