Luckin and its partners may receive more fines amid continuing investigations by regulators and investors at home and abroad.
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 apologized to its employees for the upheaval following its fraud admission in early April, and on the same day removed its CEO and COO.
The CEO, COO, and many other employees of China coffee chain Luckin Coffee have been fired after the company admitted to accounting fraud in April.
Blue City Holdings Ltd., the company behind China’s gay dating app Blued, filed its application on Tuesday to offer shares on the Nasdaq exchange. Why it matters: Blued, which boasts 49 million users, is the largest social dating app for China’s LGBTQ (lesbian, gay, bisexual, transgender, and queer) community, according to a report by consultancy Frost […]
Beijing-based GSX is the latest US-listed Chinese firm facing close scrutiny in the wake of fraud disclosures from coffee chain Luckin and edtech peer TAL.
The company plans to raise $200 million in its IPO on Nasdaq.