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 last year. That scandal has dealt a fresh blow to the reputation of Chinese stocks in the U.S.

01 20, 2021 09:25 AM

CX Daily: Dishonest Drugmaker Shows How Hard It Is to Combat Cross-Border Fraud in China

China issues additional quotas for outbound investment. President Xi will attend the Davos Agenda 2021 event next week

01 19, 2021 20:57 PM

In Depth: Dishonest Drugmaker Shows How Hard It Is to Combat Cross-Border Fraud in China

Investors’ interests remain inadequately protected despite progress in such cases

01 19, 2021 20:44 PM

Embattled Luckin Dusts Off Franchise Plan to Tout for New Retail Partners

Coffee chain operator hit by fraud scandal seeks investors in 22 provinces as it tries to get back on its feet

01 08, 2021 09:35 AM

CX Daily: China Issues Rules for Cranking Up National Carbon Market

Honor works with Qualcomm on 5G devices. China’s top chipmaker stops trading shares in the U.S.

01 07, 2021 21:04 PM

Group of Luckin Coffee Executives Demands CEO’s Termination

In a letter to the company’s board, the managers accused Guo Jinyi of cronyism, abuse of power and abysmal decision-making

12 25, 2020 16:29 PM

Year in Review: Once Darlings, China Tech Giants Face Growing Scrutiny at Home and Abroad

Setbacks for telecoms giant Huawei, internet sensation TikTok and Starbucks challenger Luckin reflect increasing pushback against Chinese high-tech firms

12 25, 2020 06:14 AM

Embattled Luckin Scrambles for Survival after Fraud Scandal

Court document shows Chinese coffee chain reached profitability in August 2020, a year later than it initially claimed; Luckin now sees annual revenue of 3.8-4.2 billion yuan this year

12 18, 2020 09:33 AM

CX Daily: How Ethylene Glycol Led to the Yongcheng Coal Default

Analysts with overseas investment banks are optimistic about China's economy in 2021. Hong Kong's regulator issues the first crypto exchange license

12 17, 2020 18:43 PM

Luckin Coffee to Pay $180 Million to Settle U.S. Securities Fraud Case

Probe finds staff at China’s Starbucks competitor tampered with bank records and faked sales figures for much of 2019

12 07, 2020 19:04 PM

China Securities Watchdog Says U.S. Bill on Foreign Government Control Is Discriminatory

CSRC says it firmly opposes practice of ‘politicizing securities supervision’

12 01, 2020 09:19 AM

CX Daily: The Fight Over China’s Law to Protect Personal Data

China encourages more domestic investment abroad. Hong Kong chief executive has to keep “piles of cash” at home due to U.S. sanctions

11 28, 2020 19:28 PM

Luckin Boss Fined 300,000 Yuan for Disclosure Issues at His Other Firms

A car rental firm owned by Lu Zhengyao reported incorrect asset figures, while another of his businesses did not disclose its relationship with Luckin

11 21, 2020 06:22 AM

China Again Pledges Cross-Border Audit Cooperation With U.S.

Securities regulatory commission reaffirms commitment to joint inspections and calls for dialogue as SEC pushes delisting regulation

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