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After Luckin admitted to falsifying sales data, a lot of English-language coverage has covered jokey Chinese-language commentary claiming the company is now “a charity to buy China coffee.” But the discussion about Luckin in China goes a lot deeper. Other Chinese-language viral articles provide deeper reflections on business culture and regulation in China.
A piece by independent, Hong Kong-based, finance-focused personal WeChat channel Qin Xiaoming titled “Luckin Coffee, Our Nation’s Shame” focused on how many Chinese investors lost money from the fraud:
Another independent anonymous WeChat account lamented just how out of touch sell-side analysts at Chinese firms are:
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