The relationship between China and Luckin Coffee Lu Zhengyao, former chairman of Luckin Coffee, 270 million yuan equity has been frozen!

Lu Zhengyao, former chairman of Luckin Coffee, was revealed to have frozen his stake in Weibo on March 22nd.

According to the official website of APP, Lu Zhengyao Lu Zhengyao was frozen, and the underlying company was Shenzhou Youche Co., Ltd., the executive court was Beijing No. 1 Intermediate people's Court, the frozen equity was 270 million yuan, and the freezing period of 270 million yuan was three years, from March 22, 2021 to March 21, 2024.

In addition, according to the execution order document number (2020) Beijing 01 Financial Insurance No. 44, on March 22, 2021, Lu Zhengyao was frozen, and the enterprise whose shares were frozen was Shenzhou Youche Co., Ltd., and the enforcement court was Beijing No. 1 Intermediate people's Court. 270 million yuan of shares were frozen until March 21, 2024.

According to the public information of Tianyan check: Shenzhou excellent car Co., Ltd. was founded in June 2002, with a registered capital of about 2.686 billion yuan. Lu Zhengyao, the legal representative, holds 10.05% of the shares. According to the information of the top 10 shareholders, Lu Zhengyao holds 10.05% of the shares and is the largest shareholder.

According to the China excellent car announcement, due to the company's failure to disclose the 2019 annual report on time and did not submit a review application, China excellent car was suspended from listing on March 22 this year.

When it comes to the relationship between the Department of China and Luckin Coffee, the biggest correlation is that the two companies come from the same shareholder. Lu Zhengyao, Lucky's largest shareholder, was also a major shareholder in China car rental.

The earlier relationship between Luckin Coffee and the Shenzhou Department

In May 2019, Lu Zhengyao led Luckin Coffee to the NASDAQ. From 2016 to 2017, Guo Jinyi was Lu Zhengyao's assistant in the China Department, so Guo Jinyi was once regarded as Lu Zhengyao's "right-hand man" in the eyes of outsiders. Since then, Guo Jinyi joined the Luckin Coffee team. On May 12, 2020, due to Luckin Coffee's financial fraud incident, Ruixing announced that Guo Jun was appointed as Luckin Coffee's agent for CEO, July 2020. Lu Zhengyao withdrew from the post of chairman of Luckin Coffee and appointed Guo Jinyi as Luckin Coffee's new CEO and chairman, resulting in a rift in their relationship, followed by a war in which "a number of senior executives signed a joint letter asking for the removal of the current chairman" and "internal struggle to seize power", in which Zhou Bin and Li Jun, who signed the joint letter, were suspected of Lu Zhengyao's cronies.

However, long before this "forced palace" incident, some Lucky employees revealed on social networks that Lu Zhengyao had already taken action, and Lu Zhengyao, who was caught up in the Lucky fraud incident, tried to turn around and try to start another business. In December 2020, he began to lead the old business sharing space related projects.

In January this year, I learned from the pulse of social software that some lucky employees exposed that Luckin Coffee's technical team was poached by Lu Zhengyao on a large scale, "just like Ruixing poached people from China at that time." Lu Zhengyao's move is to recruit talent for projects related to shared space. Earlier, a number of media reports also said that Lu Zhengyao learned from Lu Zhengyao that he was leading the old department to do projects related to shared space. Lu Zhengyao said in the report that this is a project with a market capitalization of 100 billion US dollars, which is eight times the market capitalization of Lucky's stock price at its peak of 12 billion US dollars.

Before Lucky's financial fraud was exposed, Lu Zhengyao was at the helm of three listed companies, namely, Shenzhou Youche, Shenzhou Rental car, and Luckin Coffee, and served as Chairman of Luckin Coffee, Chairman of Shenzhou Youche and CEO, but now Lu Zhengyao is no longer glamorous, and it can be said that today's Shenzhou Department is also beleaguered on all sides.

Luckin Coffee implicated the entire Shenzhou company after the explosion of thunder. after Luckin Coffee's financial fraud, the Shenzhou department was forced into the mode of "selling and selling" after falling into the predicament of capital chain, and its capital operation mode was also questioned.

Luckin Coffee, also a "China system" company, issued a "delisting" statement on its official Weibo on June 27, 2020. Shenzhou excellent car, once the star enterprise with the largest market capitalization of the new third board, was also forced to be delisted. Shenzhou car rental will also be delisted after privatization, which means that the "Shenzhou system" empire built by Lu Zhengyao is becoming shaky, and Lu Zhengyao has basically withdrawn from the capital market.

In retrospect, whether Lu Zhengyao founded China car rental or Luckin Coffee, its expansion rate was amazing. For example, when China car rental was established, it expanded to 20 cities only six months later. According to relevant statistics, China car rental reached 26000 at the end of 2011. Luckin Coffee was founded in October 2017. on May 17, 2019, Luckin Coffee rang the bell on the NASDAQ market in New York, setting the fastest record for a Chinese coffee brand to be listed on US stocks, raising a total of US $695 million and a market capitalization of US $4.25 billion, making it the largest Asian company to raise funds on Nasdaq IPO this year.

I have to say, it is crazy for Lu Zhengyao to start his business, so can Lu Zhengyao, who is in financial trouble, make a comeback?

* Image source: Internet