The default followed almost immediately after Luckin disclosed that its head of operations had fabricated billions of RMB worth of sales for most of 2019.
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Posted inWith Chinese Characteristics
Luckin is being sued by Chinese investors under brand new law
Lawyer of these Luckin investors said it is the first time investors have tried to hold a company accountable in China for fraud perpetrated on US markets.
Posted inUp and Comers
Luckin raises $865 million in post-IPO offering
Luckin looks to fund its aggressive growth tactics including a vending machine initiative, and expansion into other consumables and overseas markets.
Posted inUp and Comers
Alibaba ups logistics stake, coffee war, livestream apps battle for shoppers: Retailheads
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.
Posted inThe Numbers
US-listed Chinese firms are on thin ice
After Luckin Coffee’s spectacular admission of fraud, more Chinese companies are finding themselves in the crosshairs of regulators and short sellers.
