Chinese beverage chain Luckin Coffee released its unaudited financial report for the first half of 2021, posting doubled revenue.
Luckin Coffee is striving for a business turnaround and repairing its image after the April 2020 fraud scandal.
The financial update indicates Luckin Coffee is taking the first step back to normalcy as it prepares for a comeback.
Leadership tumult at Luckin appears to be ongoing even as it moves forward with new business developments, including inviting franchise partners.
TikTok is planning to roll out a livestream shopping feature, coffee chain Luckin filed for bankruptcy in the US, Vipshop.com is fined RMB 3 million.
Chinese beverage chain Luckin Coffee replaced founder and former chairman Charles Lu with its acting CEO, Guo Jinyi.
Charles Lu may still face a shareholder vote on to remove him as a director during an extraordinary general meeting to be held on Sunday.
Embattled coffee chain Luckin disclosed that it had received a second delisting notice from Nasdaq, less than a month after the first.
Luckin may be kicked off Nasdaq over fraud admission as board seeks to rein in shady listings. Delisting would put Luckin in the company of penny stocks.
Luckin confirms sales fraud, two months after doubts about the disclosure accuracy by the Chinese Starbucks rival.