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

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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

11 18, 2020 19:02 PM

McDonald’s Brews Up Challenge to Starbucks’ China Coffee Dominance

Fast food giant plans to spend $380 million over next three years to place 4,000 upscale McCafes inside its China stores

11 14, 2020 19:25 PM

Editor’s Picks: Ant Shockwaves Keep Coming, as Huawei Offloads Its Honor

New regulations that killed Ant’s IPO now threaten hundreds of microlenders, while a state-owned coal miner has become China’s latest corporate bond defaulter

11 12, 2020 19:21 PM

Luckin Boss to Raise $232 Million by Selling Stake in Rental Car Business

Ucar’s sale of 20.86% of Car Inc. will raise significantly more than an unconsummated earlier deal to offload the stake, thanks to a recent surge in the company’s stock

11 09, 2020 19:36 PM

Tim Hortons Eyes Techie, Mid-Range Coffee Drinkers in Rapid-Fire China Expansion

Well-known Canadian chain has more than 100 stores in China two years after entering the country, with plans for 1,500 by 2028

10 27, 2020 16:48 PM

Opinion: Trade Offers China and U.S. a Chance to Buoy Sinking Relations

With the phase one deal signed, the way to propel the relationship forward is for both countries to follow through on their commitments

10 21, 2020 13:42 PM

Chinese Retailer Miniso Beats Uniqlo and Muji at Their Game

‘Japan-inspired’ chain lists in U.S. despite challenge of slowing growth

10 14, 2020 09:20 AM

CX Daily: Alibaba and Pinduoduo Fight for Top Spot in China’s Online Bargain Basement

China's exports and imports hit record highs in September. The country's stock market tops $10 trillion for the first time since 2015

10 14, 2020 06:01 AM

China Business Digest: September Foreign Trade Surges; Qingdao Cuts Flights After New Covid-19 Flare-Up

Major real estate developers slash borrowing under strict controls; Luckin and collaborators are fined $9 million in fake-sales scandal

10 13, 2020 03:31 AM

Related Parties Helped Luckin Coffee Fake 123 Million Transactions

Market regulation administration penalizes 2 Luckin units and 3 related entities the maximum $300,000 each for their roles in $304 million financial reporting fraud

10 02, 2020 08:30 AM

Holiday In-Depth Reads — A Turbulent World

How the pandemic fosters international mistrust rather than cooperation as travel stalls, students are stranded, cross-border regulation fails and cross-border corruption comes to light

09 29, 2020 19:49 PM

Biopharma Firm Zai Lab Raises $825 Million in Hong Kong IPO

Nasdaq-listed company sees strong debut in Asian hub on investor interest in health care

09 23, 2020 21:12 PM

China Business Digest: More Foreign Investors Can Tap China Listed Firms; China Eases Entry Rules for Some Foreigners

Huawei has enough inventory to stay afloat while seeking replacements for chips barred by Trump administration; BGI gets big coronavirus test-kit order

09 23, 2020 09:18 AM

CX Daily: ‘Made in Hong Kong’ Ban May Have Little Impact on Trade

HSBC sinks to its lowest level in more than a decade. China's regulator fines Luckin Coffee and companies involved in its financial fraud

09 22, 2020 20:25 PM

China Business Digest: Regulator Piles Penalties on Luckin Coffee; Biotech Firm Raided for Alleged Import and Export Violations

ZTO Express prices HK shares at discount to NY closing price; hotelier Huazhu targeted by short seller alleging overstatement of profit as HK shares debut

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