The astounding fraud admission from beverage chain Luckin has put more US-listed Chinese companies in regulator and short-seller crosshairs.
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Posted inHeavy Hitters
Luckin fires CEO and COO, chairman remains untouched
While the CEO and COO take the fall, Luckin non-executive chairman and driving force behind CAR Inc., Lu Zhengyao, remains unscathed.
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 inHeavy Hitters
Luckin Coffee to spin off tea brand
Luckin Tea will launch a separate app and a mini-program focused on lower-tier cities.
Posted inHeavy Hitters
Luckin Coffee testing self-service coffee machines
Users can locate the nearest coffee machine and place an order through the Luckin app.
Posted inOn the Cusp
Luckin sets up QQ-themed store with Tencent to tap nostalgic Chinese millennials
Luckin Coffee and Tencent have been partners since Sept. 2018.
Posted inHeavy Hitters
Briefing: Luckin Coffee to expand to additional 18 tier-2 cities by April
Coffee competition expands to second-and third-tier cities in China.
