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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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04 20, 2021 20:26 PM

China Has the Power to Stop Capital Flows From Destabilizing Stock Market, Regulator Says

Inbound investment can help improve the country’s capital market, but the CSRC has ready measures if foreign investors cause volatility, vice chairman tells Boao Forum

04 16, 2021 07:45 AM

Scandal-hit Luckin Coffee Gets $250 Million Investment

Centurium Capital leads effort to restore business after accounting fraud prompted lawsuits against coffee chain

02 18, 2021 20:27 PM

Highflying EHang Gets Lesson in Stock Market Aerodynamics

Shares of autonomous flying-vehicle maker lose more than half their value after short seller accuses company of pulling numbers out of the air

02 18, 2021 20:02 PM

Luckin Investigation Finds No Evidence of CEO Misconduct

Guo claims accusations made by a group of former board members in January originated from disgraced former co-founder Lu Zhengyao

02 15, 2021 18:19 PM

Premium Tea Giant Nayuki Brews Up Hong Kong IPO

China’s No. 2 chain for hip versions of the traditional drink moves closer to home after reports of earlier plan for New York listing

02 06, 2021 04:36 AM

Deloitte Whistleblower Alleges Auditing Violations in China

Extensive PowerPoint document cites cases involving 10 clients amid a long-running fight with American regulators over review of audit papers for U.S.-listed Chinese companies

02 05, 2021 20:42 PM

Luckin Coffee Files for Bankruptcy in New York

Company claims stores will continue operating as usual in China, with no impact on daily operations

02 02, 2021 18:46 PM

Luckin-Tainted Former Car Rental Superstar to Drive Off Hong Kong Exchange

Car Inc.’s shares more than doubled in the year after their 2014 IPO, but now the company is privatizing after its growth stalled

01 28, 2021 20:12 PM

Starbucks’ Sales Grow in China, Bucking Global Downturn

Seattle-based coffee giant’s worldwide revenue falls in the last months of 2020 on pandemic measures

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 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

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