It was all frenzy for Chinese homegrown Luckin Coffee when it listed on the Nasdaq Stock Market Friday. Shares of the coffee retail chain surged as much as 53 percent intraday, before closing up 20 percent. CGTN's Wei Lynn Tang checked in to see what tickles the Chinese consumers' fancy and if they share the same sentiment on the ground.

Luckin Coffee was launched less than two years ago. Already, it has 2,370 stores across 28 cities in China, with big ambitions to overtake the count of Starbucks by year end. And there's more - the Chinese homegrown coffee chain is now Nasdaq-listed.

WEI LYNN TANG CHENGDU "Analysts say it's a feat in itself for a company this young to go public, what more, with a market valuation of over 4 billion dollars. It's something that hasn't been seen in almost two decades. With a net loss of nearly a quarter of a billion dollars last year, Luckin Coffee claims its cost per cup is decreasing. But just how seriously do Chinese consumers take the brand? And will they stay loyal when the discounts run dry?"

"I will still continue to drink Luckin, because even without the discounts, the price is still okay. It's cheaper than Starbucks and the taste is not too bad."

"Coupons play a part but their main advantage is the widespread number of stores across the country - which can be convenient when my friends and I hang out. Without the subsidies, I will still drink Luckin, just, not as much as before. The thing with humans - knowing I have a coupon in my e-wallet and not using it, it feels uneasy."

One key factor to Luckin Coffee's rapid rise in China - its mobile app. It's a Sunday, I'm at work, and I'm feeling like a cup of joe. I tested the Luckin app a year ago and got my iced latte in 15 minutes. I'm going to give it another go. So I'm noticing more food and drinks options now - from cheese teas to, wow, salted egg yolk cookies. I'll settle for an iced Americano for myself and an iced tea for my cameraman. Select, pay, and we wait. And behold, we can watch our drinks being prepared live.

"I won't particularly choose between Starbucks and Luckin, rather, I'll see which one's more convenient. But as Luckin is geared more towards delivery, so when I feel like having my coffee delivered, I'll opt for Luckin."

That said, Starbucks' appeal remains strong in China.

"If I can find a Starbucks shop, I'd prefer Starbucks than Luckin because I like the flavour, branding, and environment."

Luckin plans to use its listing proceeds of 561 million dollars to help fund new stores, customer acquisition and tech investments. Investors and consumers will be keen to watch the company's future execution plans in what is deemed as still a highly under-penetrated coffee market in China. WLT, CGTN, Chengdu.