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Fraud at Luckin

China Fraud at Luckin News - Caixin Global

The Chinese Starbucks rival has been in hot water after revealing that it inflated its sales by $310 million in 2019. That scandal has dealt a fresh blow to the reputation of Chinese stocks in the U.S.

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06 29, 2022 20:56 PM

Nio Denies Claims of Dodgy Accounting as Stock Tumbles

The electric-vehicle maker’s shares slid more than 11% on Wednesday after a report from short-seller Grizzly Research claimed sales to a related company juiced its numbers

06 01, 2022 14:46 PM

Caixin-Sinica Business Brief: U.S. Mulls Dropping China Tariffs

Plus, Luckin Coffee reports its first-ever operating profit; Airbnb prepares to leave China; and several Shanghai residents depart city as lockdown eases

05 26, 2022 17:21 PM

Caixin China Biz Roundup: U.S. Delisting Threat Looms Over Nearly 200 Chinese Firms

Why firms like Baidu and Alibaba could be victims of a long-running Sino-U.S. audit dispute; Luckin turns a profit; and global business leaders call for commonly accepted standards on sustainability evaluations

05 26, 2022 15:03 PM

Shanghai Composite Index Rose 0.5% on Thursday

Shenzhen Component Index closed up 0.57%

05 26, 2022 09:17 AM

CX Daily: How China Took Another Step Forward on Genetically Modified Farming

China aims to hit its carbon-reduction goals ahead of schedule, the country’s climate change envoy says

05 25, 2022 19:44 PM

Scandal-Dogged Luckin Coffee Turns First Ever Operating Profit

Chain earned $3 million net profit in first quarter, a turnaround from a $35 million loss a year earlier

05 11, 2022 16:37 PM

Caixin China Biz Roundup: Luckin Denies Hong Kong Listing Plans

Coffee giant says it remains committed to U.S. markets; Xi and Macron discuss Ukraine crisis in phone call; and key auto parts supplier suspends Shanghai operations as Covid threat continues to loom

05 11, 2022 15:03 PM

Shanghai Composite Index Rose 0.75% on Wednesday

Shenzhen Component Index closed up 1.8%

05 11, 2022 09:15 AM

CX Daily: Coal, Once a Boon, Turns Chinese Rustbelt City Into a Bust

China’s central bank encourages banks to set deposit rates based on market signals. Shimao sparks a bond sell-off by seeking one-year extension

05 10, 2022 20:53 PM

Tech Insider: TikTok Owner Stokes IPO Speculation, Tough New Livestreaming Rules

Beijing weighs in on India’s Xiaomi asset seizure, CATL approved for $6.7 billion private placement

05 10, 2022 15:54 PM

Nasdaq-Delisted Luckin Coffee Denies It’s Planning Hong Kong IPO

Scandal-dogged Chinese Starbucks challenger says it remains ‘committed to U.S. capital markets’

04 07, 2022 06:38 AM

In Depth: Uncertainty and Anxiety in Chinese Private Equity

Freeze on IPOs — especially abroad — casts a chill over tech startup finance in China, despite recent signals of a government thaw

03 25, 2022 21:35 PM

Caixin Explains: What’s Holding China and U.S. Back From Resolving Their Audit Regulation Deadlock

Firms including Alibaba, Pinduoduo and Baidu are among the 200-plus firms caught in the long-running audit dispute between finance officials in the world’s two biggest economies

03 25, 2022 15:03 PM

Shanghai Composite Index Fell 1.17% on Friday

Shenzhen Component Index closed down 1.89%

03 25, 2022 03:08 AM

Luckin Coffee’s Outlets in China Top Starbucks

Fourth-quarter revenue jumps and loss narrows as Chinese startup moves past 2020 fraud scandal and prepares to seek relisting of its stock in the U.S.

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