∗Luckin Coffee Archives - Page 2 of 4

Dangdang Founder Accuses Luckin Coffee of Monopolizing Ethiopian Coffee Beans

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.

Former Chairman of Luckin Coffee Charles Lu Enters Precooked Dishes Market

A-Bite Technology, founded by former chairman of Luckin Coffee Charles Lu, is incubating a new precooked dishes project called “A-Bite Workshop.”

US Court Approves Luckin Coffee’s $460 Million Debt Restructuring

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’s Q3 Revenue Rises to $364.7 Million, Net Loss Decreases by 98.6% Year-on-Year

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).

Luckin Coffee Reaches Preliminary Agreement Worth $175 million for Class Action Settlement

Chinese coffee company and coffeehouse chain Luckin Coffee Inc. has reached a $175 million settlement in its shareholder class-action lawsuit.

Luckin Coffee‘s Net Revenue in H1 2021 Increased 106% YoY to Nearly $500 Million

On Thursday, Chinese beverage chain Luckin Coffee announced its financial results for the first half of 2021, showing total net revenue of 3,182.5 million yuan ($497.743 million)

Luckin Coffee Resolves All Claims In Securities Class Action; Files 2020 Financial Report

On Tuesday evening, Luckin Coffee issued three announcements. The first was that the company had entered into a binding agreement to settle its US securities class action lawsuit with the lead plaintiffs.

Quxiaomian Founded by Former Chairman of Luckin Coffee Seeks Financing Despite Slow Expansion

Quxiaomian, a restaurant founded by Charles Lu Zhengyao, former chairman of Luckin Coffee, is seeking a new round of financing.

Luckin Coffee Promotes Restructuring Plan, Several Phased Goals Already Completed

Luckin Coffee Inc. released the third report of the Joint Provisional Liquidators to the Grand Court of the Cayman Islands on Tuesday night.

Luckin Tea Halts New Franchises, Most Stores Renamed Luckin Coffee

Some Luckin Tea stores have changed their signboards and menus to match Luckin Coffee. One Luckin Coffee staff member also confirmed that some Luckin Tea stores in Beijing have already changed their names, while those in other provinces and cities have not yet been renamed.

Luckin Coffee Plans New Financing Round with Potential Investors Including Focustar Capital

Chinese domestic media outlet Cailian Press on Tuesday reported that Luckin Coffee is planning a new round of financing, including participants such as Focustar Capital (FSC).

Stained by Fraud Scandal, Luckin Coffee Is Seeking a Path Out

The fraud scandal hasn’t knocked Luckin out of the ring: today, it remains China's second-largest coffee chain. How did Luckin survive the turmoil?

Borgward Auto Owned by UCAR to Undergo Bankruptcy Proceedings

Borgward Auto, owned by Chinese travel and auto services firm UCAR, is to undergo bankruptcy proceedings, with a public announcement to be issued as soon as early July.

Luckin’s Ex-Chairman Lu Zhengyao Becomes Judgment Debtor for Third Time, Faces $188 Million Fine

According to public information posted to China's enforcement information disclosure website, Luckin Coffee’s ex-chairman Lu Zhengyao on Wednesday was listed as a judgment debtor by the Higher People's Court of Beijing Municipality, obliging him to pay about 1.2 billion yuan ($188 million) in fines.

Luckin Coffee Faces Internal Strife, CEO Guo Jinyi Urged to Step Down

On the evening of Jan. 6, it was reported that middle and senior executives of Luckin Coffee signed a joint letter, accusing the current chairman and CEO Guo Jinyi.

Luckin Coffee’s Latest Sales Data Reveals Slower Yet Continued Growth

The performance fraud scandal has put the spotlight on Luckin Coffee’s sales data, and the latest has just been disclosed.

Luckin Coffee to Pay $180M Penalty in Settlement with SEC

On Dec. 16, the SEC announced that the accounting-fraudulent Luckin Coffee Inc. agreed to pay a $180 million penalty for previous charges concerning the company’s fabricated transactions.

Luckin Coffee and Complicit Companies Fined for Millions of Fake Transactions

China’s market regulator disclosed yesterday the penalty of fines of 2 million yuan ($300,000) each for Luckin Coffee and four other associated companies for their 123 million fake orders fabricated through fake transactions, fake bank statements and other illegal measures.

Luckin Coffee with 43 Other Involved Companies Fined $9M After Investigation

The State Administration for Market Regulation announced on Tuesday morning that it has fined two Luckin entities and 43 third-party companies a combined 61 million yuan (around $9 million).

Transitioning to Online Only, Coffee Box Restarts after Over 100 Days of Silence

Last Thursday, Chinese coffee brand Coffee Box published an article explaining why it stayed silent despite the market rumors and how its future business models will be deployed.

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