Luckin Coffee

"This earnings announcement is an important milestone as it enables us to return to normalized financial reporting," said Luckin Coffee CEO.

Since its delisting on June 29 last year, the company has accumulated a 990 percent gain in the Pink Sheets market.

Luckin Coffee is mulling new funding round with participants including Foucstar Capital, local media reported.

Luckin Coffee's stock is still tradable on the OTC market despite its delisting, up nearly 70 percent so far this year.

There is no precedent for an investor suing a US-listed company in China, making this case the first of its kind.

Under the agreement, Centurium Capital has agreed to invest approximately $240 million in a private placement of Luckin Coffee's senior convertible preferred stock.

Luckin Coffee is in talks with private equity (PE) firms for a new round of investment, and from more than one investor, Chinese media outlet PEdaily reported Wednesday.

Luckin Coffee is actively using multiple sources to raise capital, "and is currently in a 30-day internal discussion with credible investors to raise at least $250 million through a private placement," it said.

The shakeup involves a number of executives who signed a joint letter calling for chairman and CEO Guo Jinyi's removal for a number of failures, including corruption.

On January 7, seven Luckin Coffee vice presidents, all branch general managers, and core business executives signed a joint letter requesting the removal of Guo as Luckin Coffee's chairman and CEO.