For many Chinese tech watchers, the year 2021 can be divided into two distinct periods: before and after Didi’s cybersecurity review.
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Posted inWith Chinese Characteristics
Luckin fraud may be out of Chinese regulator’s reach
Under the revised Securities Law of China, regulators may have some ability to investigate Luckin, which disclosed wide-scale sales revenue fraud.
Posted inHeavy Hitters
China’s SAIC to take over Luckin founder’s car business
If the deal proceeds, Luckin founder Charles Lu and his family will receive up to HK$1.37 billion, likely to be put toward the company’s cash crunch.
Posted inWith Chinese Characteristics
Luckin is being sued by Chinese investors under brand new law
Lawyer of these Luckin investors said it is the first time investors have tried to hold a company accountable in China for fraud perpetrated on US markets.
Posted inWith Chinese Characteristics
CHINA VOICES | China reflects on Luckin: ‘Expert research’ and the 2VC model
Luckin’s impending implosion has led to a lot of soul-searching with many questioning the environment that allowed Luckin to thrive.
Posted inHeavy Hitters
Car Inc may soon exit the Charles Lu family
China’s Beijing Automotive Group (BAIC) is seeking to buy a stake of up to 21.26% in Car Inc, a Hong Kong-listed car rental company formed by Luckin Coffee chairman Charles Lu.
Posted inWith Chinese Characteristics
Luckin might have its app removed from app stores
China’s regulators have been cracking down on companies like that violate personal privacy and over-collect consumers’ personal data.
Posted inThe Numbers
US-listed Chinese firms are on thin ice
After Luckin Coffee’s spectacular admission of fraud, more Chinese companies are finding themselves in the crosshairs of regulators and short sellers.
Posted inWith Chinese Characteristics
Alibaba, JD, Tencent, and WOW, LUCKIN COFFEE! with Michael Norris
Michael Norris from Agency China talks earnings. They go over the quarterly reports from Alibaba, JD, and Tencent, as well as Luckin Coffee’s very impressive report, which sent their stock soaring.
Posted inOn the Cusp
Luckin offers $6.7 million in assets as lease collateral, signaling money woes
Luckin is under financial pressures as the startup coffee chain is showing signs of overheating.
