Caixin Global – Latest China News & Headlines

Home >


CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

Vietnam Surpasses Hong Kong in Port Throughput
Exclusive: Chinese Buyers Deep in Talks With Embattled Japanese Panel-Maker
Star Online Insurer ZhongAn Shuffles Leadership
Toyota, BYD in Tie-Up to Develop Electric Vehicles for China
China Approves Older Novartis MS Drug
Alibaba Supermarkets Roll Out Drug-Dispensing Vending Machines
Beijing Seeks Bang for Its Buck in Hydrogen Vehicle Drive
BMW, Tencent Team Up for Autonomous Driving Project
Exclusive: Chinese Buyers Deep in Talks With Embattled Japanese Panel-Maker
Vietnam Surpasses Hong Kong in Port Throughput
Bug-Trapping Lamps May Help China Control Crop-Devouring Moth
Google Says China Search Engine Plan ‘Terminated’
Volvo Cars Profit Tumbles as Trade Spat Starts to Take Toll
Star Online Insurer ZhongAn Shuffles Leadership
Huatai Unit AssetMark Financial Opens Higher in New York Debut
Donghai Securities Chairman Steps Down Under Investigation
Moutai Posts Slower Growth Amid Corruption Crackdown
Didi Hints It Will Revive Carpooling Service Linked to Two Murders
Amid Tax Cuts, Authorities Boost Nontax Revenues
Google Bans Major Chinese App Developer From Play Store, Ad Platform
China Considers Packing In Decades-Old Zip Codes
TSMC Counts on New iPhones for Revival After Trade War Hit
Chinese Homebuyers Lead Sharp Drop in Foreign Demand in U.S.
Coffee Startup Luckin Bets on Wall Street, but Will Investors Take a Swig?

By Caixin / May 15, 2019 12:03 PM / Business & Tech

Photo: VCG

Photo: VCG

It’s just two days and counting to the New York trading debut for one of China’s biggest IPOs so far this year – an offering that will test investor thirst for a new breed of high-tech coffee being served by a company billing itself as China’s answer to Starbucks.

Anyone looking for profits from Luckin Inc. will have to go elsewhere, as the company is losing big bucks due to a rapid expansion that’s seen it open more than 2,000 stores in China in just a year and a half. The company is asking Wall Street for another $500 million to keep its growth plan alive, which also includes aggressive promotions in its rush to sign up new coffee drinkers to its app-only business model.

In his weekly Tech Talk column, China high-tech veteran Doug Young sees trouble brewing for this IPO that will debut on Friday, a scant two years after Luckin’s was first set up. To read the column, click here.

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.