Luckin Coffee has regained losses and Starbucks has experienced a rare sharp decline. In Q1 2024, competition in the coffee industry has intensified. Before and after the May Day holiday, two leading domestic coffee brands have successively released financial reports for the first quarter of 2024. From the data, it appears that the start of 2024 is not optimistic. Among them, Luckin's revenue did not increase, and it experienced losses again, while Starbucks experienced a decline in both revenue and net profit.