Luckin responded Monday to fraud allegations from an anonymous report publicized by short seller Muddy Waters on Friday.
Naixue’s Tea, one of China’s largest tea beverage chains, is reportedly looking to raise $400 million in a US IPO as early as this year.
Luckin looks to fund its aggressive growth tactics including a vending machine initiative, and expansion into other consumables and overseas markets.
Luckin Coffee is offering a $400 million bond and issuing new shares less than a year after its Nasdaq IPO.
Alibaba raises its bet in the logistics industry, China’s coffee war continues to brew, Bytedance adds a crucial piece to its e-commerce puzzle.
The April sales figures from Lixiang could be an indicator for a V-shaped recovery in the world’s biggest EV market hit hard by a broader slump.