Chinese beverage company Luckin Coffee has turned around its operations to grow rapidly in its home market, and is now aiming for international expansion.

The company says that it has 45 stores in Singapore after opening there last year, and is exploring opening locations in the U.S.

The company says it will take a "careful" approach with the U.S. given the saturation and competition already in the market. Luckin ADRs are up 7.88% after the company reports 3Q revenue growth.