The Major event of Luckin Coffee Luckin Coffee established Hainan Science and Technology Company

Luckin Coffee has a new company! This time in Hainan, the legal representative selected Guo Jinyi.

According to the enterprise search APP, Luckin Coffee Science and Technology (Hainan) Co., Ltd. was established on January 28, with co-founder Guo Jinyi as its legal representative, with a registered capital of 10 million yuan. Its business scope includes: Internet sales of food; alcohol management; health food sales; production of sanitary products and disposable medical products; publication wholesale; pharmaceutical Internet information services; catering services; import and export of goods. The company is 100% controlled by Luckin Coffee (China) Co., Ltd., according to the company's equity penetration.

The development of Luckin Coffee

Luckin Coffee luckin coffee is a new domestic coffee brand founded by Qian Zhiya, former CEO of Shenzhou Youche Group, and also a typical representative of domestic new retail coffee. It was established on October 31, 2017, successfully landed in the capital market in May 2019, and was suspended and delisted on Nasdaq on June 29th, 2020.

2017

In October, Luckin Coffee luckin coffee opened its first store in Galaxy soho.

In November, Luckin Coffee invited Tang Wei and Zhang Zhen to serve as brand spokesmen.

2018

It officially opened for trial in January. As of October, Luckin Coffee has more than 1000 branches in China, which is a typical representative of the new retail coffee in China.

Luckin Coffee completed the layout of 525 stores in May and announced its official opening on May 8.

On June 18, Siming District, Xiamen City, Fujian Province signed a project cooperation agreement with Luckin Coffee (China) Co., Ltd. Luckin Coffee's national headquarters officially settled in Xiamen, Fujian Province.

Luckin Coffee raised US $200 million in round An on July 11, with a valuation of US $1 billion.

On December 12, Luckin Coffee completed round B financing of US $200 million, with a valuation of US $2.2 billion.

Luckin Coffee Shanghai New World Big Maru department store officially opened on December 25, Luckin Coffee announced the birth of the 2000th store.

In 2018, Beijing Ruiji Coffee Technology Co., Ltd., a company owned by luckin, changed its registered capital twice. The first time, on January 21, 2018, the registered capital was changed from 5 million RMB to 150 million RMB. The second time, it changed from 150 million RMB to 60 million RMB on August 31 of the same year.

2019

In January, Luckin Coffee announced that he would open 2500 new stores across the country, bringing the total to more than 4500.

In February, Luckin Coffee announced that he would be stationed in 18 large and medium-sized cities such as Shijiazhuang, Shenyang, Guiyang and Zhuhai by the end of April.

At the end of March, 2370 stores were opened in 28 Chinese cities, and there are plans to significantly increase the number of stores in 2019.

On April 1st, Luckin Coffee (China) Co., Ltd. added a piece of chattel mortgage information.

On April 18, Luckin Coffee completed the B+ round of financing of US $150 million, with a valuation of US $3 billion.

Luckin Coffee IPO went public on May 17, raising US $695 million and a market capitalization of US $4.2 billion.

Luckin Coffee (luckin coffee) officially opened its 3000 store in the West Plaza of Hangzhou East Railway Station on July 16, with more than 3000 stores in the country and a target of 4500 in 2019.

On September 3, Luckin Coffee officially split up "Little Deer Tea" to operate independently, and the spokesman of Little Deer Tea changed from Liu Haoran to Xiao Zhan.

On December 16, Luckin Coffee had 4910 stores in China, with a total of more than 4500, making it the largest coffee chain in China.

2020

In January, Luckin Coffee announced the unmanned retail strategy, launching the unmanned coffee machine "Ruijia Buy" and the unmanned vending machine "Rui cost-effective".

On January 21, Ruixing shares exceeded $50 and reached $50.02, a record high with a market capitalization of more than $12 billion.

On January 31st, Luckin Coffee was pointed out by Muddy Waters, a well-known short seller, that financial and operational data were falsified.

On February 12, the first unmanned coffee machine, "Ruiji Buy", was put into use in Wuhan 672 Hospital.

On April 2, Luckin Coffee issued an announcement: after admitting to his false trading of 2.2 billion yuan, Luckin Coffee announced that the company's chief operating officer (COO) Liu Jian and several other employees had fabricated the deal, Luckin Coffee's share price plummeted 80% and trading was suspended several times during the day.

On April 3, Luckin Coffee's stores all over the country suddenly exploded, and Luckin Coffee's APP and Mini Program collapsed. Operator big data Insight's statistics of "Sea of Clouds panning for Gold" showed that the number of active users using Lucky reached an all-time high of 4.98 million, up 3.5 times from the previous day and twice its historical peak.

Luckin Coffee issued an apology on April 5.

On April 7, trading was suspended before trading, and the company's disclosure caused its ADR to plunge more than 75 per cent on the day.

On April 22nd, the Bancassurance Regulatory Commission responded to Luckin Coffee's financial fraud and said it would actively cooperate with the competent authorities to severely punish them in accordance with the law.

On April 27th, in response to domestic media reports that Luckin Coffee was taken over by the public security and industrial and commercial departments, Luckin Coffee officially said: at present, the company is actively cooperating with the market regulatory authorities' understanding of Luckin Coffee's operation. The company and stores across the country are operating normally.

On April 30th, Lucky caffeine postponed the release of its annual report, and the Securities and Exchange Commission said it was involved in the investigation.

On May 12th, Luckin Coffee CEO (CEO) Qian Zhiya and Chief operating Officer (COO) Liu Jian were removed from office!

On May 15th, courts in the Cayman Islands and Hong Kong ordered the freezing of Luckin Coffee's assets.

On May 19th, the Nasdaq Stock Exchange decided to delist the company, and Luckin Coffee called for a hearing.

Luckin Coffee's share price resumed trading on May 20, and Lu Zhengyao, chairman of Luckin Coffee, sued Credit Suisse in Hong Kong for margin loans.

On May 29th, the media reported that Luckin Coffee had been involved in counterfeiting before IPO.

On June 6th, Luckin Coffee faked 2.2 billion was commanded by Lu Zhengyao, chairman of Ruixing!

Luckin Coffee's share price rose and fell sharply on June 8, and that night, Luckin Coffee (LK.O) turned down before trading, while Luckin Coffee (LK.O) rose more than 19% before trading, and then plummeted.

The on-the-spot inspection phase of the Ministry of Finance of Luckin Coffee's fraud case ended on June 14.

Luckin Coffee App and Mini Program crashed for the second time on June 15.

On June 15, the industrial and commercial change took place in Beijing Reggie Coffee Technology Co., Ltd. Qian Zhiya stepped down as legal representative, manager and executive director.

On June 23, Luckin Coffee, who was scheduled to hold a hearing on June 25 to decide whether to stay or not, had another accident. Lucky caffeine did not submit its annual report until December 31, 2019 and once again received a notice from NASDAQ to delist.

On June 26th, Luckin Coffee announced the withdrawal of the request for a hearing, triggering a circuit breaker in the stock market.

Luckin Coffee issued a "delisting" statement on his official Weibo on June 27, but delisted and delisted. Luckin Coffee told everyone that with new products, new users can still enjoy discounts. The most interesting thing is that after Luckin Coffee experienced delisting, judging from the reaction of the capital end, Luckin Coffee's market value rose again to more than US $1 billion after nearly two weeks of trading in the over-the-counter market.

Luckin Coffee announced on July 3 that Lu Zhengyao would continue to serve as chairman.

On July 5, Luckin Coffee held a special general meeting of shareholders, and the motion on the removal of directors of Lu Zhengyao, Liu Erhai and Li Hui was passed.

On July 14, Luckin Coffee made a major personnel change, and Guo Jinyi, an assistant to Lu Zhengyao, was appointed as the new CEO and chairman.

On July 20th, Luckin Coffee (China) Co., Ltd. applied to register the trademark of "deer tea".

On July 31st, China's Ministry of Finance said that it had found out that Lucky had falsely increased its income by 2.1 billion, and that the Ministry of Finance would impose administrative penalties on the financial fraud of the main operators in Luckin Coffee in accordance with the law, and promptly disclose the results of the punishment to the public.

Luckin Coffee held the 2020 "Mid-year National Conference" at its headquarters in Xiamen on August 8. Data from the meeting showed that Luckin Coffee's business was positive in the first half of the year. Luckin Coffee's informed sources revealed that Luckin Coffee had achieved an overall break-even in July 2020. Ruixing management expects that according to the current operational progress, the overall profit is expected to be achieved in 2021.

On August 21st, the followers of Luckin Coffee's official account exceeded 20 million, and in terms of private domain traffic, Ruixing revealed some data: 1.8 million private domain users, contributing 35000 cups directly and 100000 cups indirectly per day, making private orders the third largest source of orders after APP and Mini Program.

On August 29th, a major personnel change took place in Luckin Coffee (Beijing) Co., Ltd. Guo Jinyi stepped down as the company's supervisor and was taken over by Li Zhipeng.

Luckin Coffee announced on September 2nd that Shao Xiaoheng (Sean Shao) was re-elected as an independent director of the board of directors.

Luckin Coffee announced the appointment of Marcum Bernstein&Pinchuk LLP, an independent accounting firm, as the independent auditor and the termination of the partnership with Ernst & Young.

Luckin Coffee paid the price for his counterfeiting, and the State Market Regulatory Administration imposed a 61 million penalty on Luckin Coffee (China) Co., Ltd., Luckin Coffee (Beijing) Co., Ltd., and other companies for unfair competition.

On October 12, due to Luckin Coffee's large-scale brushing behavior, the General Administration of Market Supervision issued a written decision on the administrative penalty for Luckin Coffee's unfair competition case. Rui was fined 2 million yuan by the General Administration of Market Supervision.

2021

Luckin Coffee staged an "internal struggle to seize power" on January 8, when a number of executives signed a joint letter asking for the removal of the current chairman.

* Image source: Internet