News emerged on Monday that Chinese beverage chain Luckin Coffee is considering carrying out a public listing in Hong Kong as its business gets back on track. However, the company issued a statement denying such reports.
Chinese coffee chain Luckin Coffee released its audited financial statements for the 2021 fiscal year on Thursday. The report shows that the revenue of Luckin Coffee throughout the year was $1.25 billion, a year-on-year increase of 97.5%.
Chinese beverage chain Luckin Coffee on Monday announced that the company has successfully completed the restructuring of financial debt and has emerged from bankruptcy proceedings under United States code.
Chinese beverage chain Luckin Coffee on Monday announced that, pursuant to an order by the Grand Court of the Cayman Islands dated February 25, 2022, the firm's winding up petition has been dismissed.
According to an internal letter issued to employees by Chairman and CEO of Luckin Coffee, Guo Jinyi, Luckin had opened about 360 new stores in the month of January, setting a new record for the company.
Chinese beverage chain Luckin Coffee filed a document on Friday with the SEC, showing that the company had met conditions for reaching a settlement agreement whereby it will pay a fine of $180 million.
A consortium led by Centurium Capital, a Beijing-based investment company, now owns more than 50% of domestic beverage chain Luckin Coffee, which was previously plagued by a series of scandals.
Reports have emerged that Chinese beverage chain Luckin Coffee is exploring plans to relist its shares in the U.S. following a high profile removal in June 2020. Luckin has since denied the report.
Recently, Li Guoqing, founder of Chinese e-commerce platform Dangdang, released a video questioning Luckin Coffee's purchase of nearly half of the available Hambella coffee beans.
In the early morning of Friday, December 17th, Chinese coffee company Luckin Coffee's debt restructuring plan received recognition from a federal judge in Manhattan.
Luckin Coffee released its unaudited financial report for the third quarter of 2021 on Thursday. The data showed that its total net revenue in the third quarter was 2.35 billion yuan ($364.7 million).
