Luckin Coffee
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Luckin Coffee opens flagship store on Chinese e-commerce platform Pinduoduo
Luckin Coffee, which is embroiled in the financial fraud controversy, announced on Weibo on August 24 that it has opened a flagship store on China's emerging e-commerce platform Pinduoduo to sell coffee, coffee cups and other products.
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Luckin Coffee's single-store cash flow has turned positive, with over 4,000 stores returning to normal operations
Excluding the stores that are not yet open for business, Luckin Coffee, which is embroiled in the financial fraud controversy, has seen cash flow turn positive in stores that have resumed normal operations, the Securities Daily said, citing sources close to the company.
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Has Luckin Coffee come back to life?
A report on Monday about Luckin Coffee sent the company's shares soaring in the US Over-The-Counter Pink Sheet Market. For a company that's been embroiled in a financial fraud scandal, is it coming back to life?
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Luckin Coffee reportedly achieves overall breakeven in July
Luckin Coffee, mired in financial fraud, is showing more and more signs of moving towards profitability.
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Luckin Coffee to halt trading on June 29, shares plunge 51%
Luckin Coffee announced today that it has decided to withdraw its previous request for a hearing and that trading in the company's stock will be suspended at the opening of trading on June 29, 2020.
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China's Starbucks equivalent shares plunge 83% after admitting fraud
U.S-listed Luckin Coffee plunges 83% in pre-market trading after issuing an announcement acknowledging the existence of counterfeit transactions during the second quarter to the fourth quarter of 2019, involving sales of approximately 2.2 billion yuan.