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 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 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.
