Ruixing Branch was fined 80, 000. Summary of Luckin Coffee's development from 2017 to 2021

According to media sources, Luckin Coffee (Guangzhou) Co., Ltd. Tianhe 24 Branch was fined 80, 000 yuan for false registration.

According to the APP information from Sky Eye, Luckin Coffee (Guangzhou) Co., Ltd. Tianhe 24 Branch added an administrative penalty and a fine of 80000 yuan.

The content of the punishment shows that the real estate certificate submitted by the punished branch when applying for the establishment of a branch is false material, and the act belongs to the act of submitting false materials to obtain company registration, and decides to order it to correct the illegal act. The decision document number Suitian City Supervisory Office [2021] No. 245, the punishment unit is Guangzhou Tianhe District Market Supervision and Administration Bureau.

In addition, according to APP, Luckin Coffee (China) Co., Ltd. has undergone industrial and commercial changes on May 10, reducing its registered capital from US $2.05 billion to US $1.8 billion, a decrease of more than 12%.

Industry insiders pointed out that the decrease in registered capital of Luckin Coffee (China) Co., Ltd. may be related to a news released by Lucky on the evening of March 16, when Luckin Coffee announced that he would reach a restructuring support agreement with important creditors. the restructuring agreement is divided into three parts, including a parallel capital replenishment plan, including possible $250 million in external financing. And reducing the registered capital of local companies to meet the settlement debt.

Data show that Luckin Coffee was founded on October 31, 2017, successfully landed in the capital market in May 2019, suspended trading on NASDAQ on June 29, 2020 and delisted for the record.

The development of Luckin Coffee

About the development of Luckin Coffee in 2017, 2018 and 2020, you can click to view this article: the History of Lucky.

In the past few months in 2021, Luckin Coffee has also undergone a lot of changes, and has gradually returned to the right track of development.

On January 5, Luckin Coffee officially signed a contract with the Ethiopian Embassy to win Ethiopia's largest order for boutique beans.

On the evening of January 6, a shocking infighting broke out at the top of Ruixing, and a number of senior executives jointly removed the current chairman. Luckin Coffee further responded to the incident that "a number of senior executives signed a joint letter collectively requesting the removal of the current chairman." Guo would like to deny all charges.

On January 18, Luckin Coffee announced that it was officially open to join, further expanding the number of lucky stores, and the new retail partner recruitment program does not charge any form of franchise fee. Ruixing said: hope to restore the trust of investors with better data performance.

Luckin Coffee said on January 26 that the "2021 Equity incentive Plan" will be implemented, under which up to 223 million Class A common shares will be awarded to employees and directors to retain, attract and motivate them by providing equity to them.

On February 5, Luckin Coffee filed for bankruptcy protection in the United States, and announced that filing for bankruptcy protection is a good news, which makes Ruixing a step further on the road to rebirth.

On the evening of February 8, the court agreed to pay $180 million in compensation to Luckin Coffee for agreeing to pay a fine of $180 million to settle the fraud case with the Securities and Exchange Commission (SEC).

On February 17, Luckin Coffee announced that the internal investigation into the incident in which "a number of senior executives signed a joint letter asking for the removal of the current chairman" was over. the investigation results show that the investigation team has found no evidence of misconduct alleged in the joint letter, and has reported the results of the investigation to the company's board of directors. at the same time, Luckin Coffee also released specific data on the operation of Luckin Coffee stores.

On March 8, Ruixing officially issued a notice to open the investment promotion of unmanned coffee machine "Ruijia purchase" to 38 cities, including Beijing, Qingdao and Shanghai.

On the evening of March 16, Lucky announced on its website that it was in exclusive talks with investors to raise at least $250 million.

On the evening of April 15, Luckin Coffee received a financing of US $250 million from the two major shareholders of Dawei Capital and pleasure Capital.

On April 18, Luckin Coffee's first automatic intelligent roasting base of the whole production line was officially put into production in Fujian. At the same time, Luckin Coffee also completed the procurement of Yunnan boutique coffee beans in the new production season, with a total purchase of 1000 tons.

On April 25th, "Luckin Coffee" launched the "small Black Cup SOE Yunnan Red Honey Series", which is another boutique coffee production after Luckin Coffee launched the high-end product line "small Black Cup SOE Yega Xuefei".

* Image source: Internet