Ruiyuhara CEO took over Coffee Coffee! The second Luckin Coffee is coming?!

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Tianyan data show that recently, the legal representative of Kudi Coffee (Tianjin) Co., Ltd. has changed. Wang Baiyin, a Peking University classmate of Lu Zhengyao, former chairman of Luckin Coffee, withdrew, with Qian Zhiya, Lu Zhengyao's "proud student" and former Luckin Coffee CEO, as the legal representative.

According to the data, Kudi Coffee (Tianjin) Co., Ltd. was established in May 2022 with a registered capital of 100 million US dollars. Its business scope includes catering services, food sales, food Internet sales, etc., and is wholly owned by MAIN MARVEL LIMITED. It is worth noting that in addition to serving as the legal representative of Kudi Coffee, Qian Zhiya is also holding the position of executive director and manager of the company.

Born in 1976, Qian Zhiya graduated from Wuhan Textile University in 1998 with an EMBA degree from Peking University. He was a director, vice president and director of operations of Shenzhou excellent car, Executive Vice President of Shenzhou car Rental Co., Ltd., and Luckin Coffee CEO.

Lu Zhengyao and Qian Zhiya have always been regarded by the outside world as a "master-apprentice" relationship. Qian Zhiya met Lu Zhengyao when he first came to Beijing from Wuhan in 2004, and then started his business with him, starting with chores, until he later established "Shenzhou car Rental." Lu Zhengyao also took a fancy to Qian Zhiya's working ability, so he appointed her as the executive vice president and director of operations of Shenzhou car rental.

It can be said that she had a smooth journey in her career, when she managed more than 1000 stores, 100000 operating vehicles and 40, 000 employees in China, and she was responsible for every strategic planning and cooperation of the company.

Qian Zhiya officially resigned from her former employer for personal reasons in November 2017. at that time, she was already 41 years old. it was her own time to shine and fever. after leaving from the "Shenzhou car Rental", which she had been working hard for 13 years, she chose to start from scratch and started a business in the coffee field. Luckin Coffee was founded. Lucky's first store opened in Galaxy soho a month before Qian Zhiya officially resigned.

In the early days of Qian Zhiya's founding of Ruixing, half of the money came from the support of Shenzhou Youche. Because of the lack of funds and customers at that time, Lu Zhengyao set aside the location of the headquarters of Shenzhou excellent car and rented it to Luckin Coffee as office space. From Lu Zhengyao's actions, we can see that he is very supportive of Qian Zhiya's decision to start a business, which shows that Lu Zhengyao has indeed provided a great help to Qian Zhiya. After Ruixing was founded, Lu Zhengyao was not only the chairman of the board, but also the company's largest angel investor, and their equity ratio was about the same.

On May 17, 2019, Luckin Coffee was officially listed on NASDAQ in the United States. it took others more than 20 years to list, while Luckin Coffee only took only one year to set a record for listing in the global market. In just 18 months before the listing, Ruixing experienced four times of financing, and the first three rounds were collected by acquaintances such as Li Hui and Liu Erhai. According to media reports, Qian Zhiya once said publicly that Lucky is not short of money.

Until April 2020, Luckin Coffee "self-revealed" financial fraud. Two months before the explosion, Muddy Waters, a short seller, released an anonymous short report accusing Luckin Coffee of financial fraud. Store sales, commodity prices, advertising expenses and net income of other products were all exaggerated, and Ruixing's operating profit was exaggerated by 397 million yuan in the third quarter of 2019. Since then, Ruixing suffered a fall in share prices, an investigation by regulators and a class action claim by investors.

In addition to being required to delist from NASDAQ, trading will continue to be suspended until the additional information required by NASDAQ is fully met. Qian Zhiya did not come forward to speak out during the storm. Perhaps she was aware of her mistake, so she resigned from Ruixing in June 2020.

Lu Zhengyao, also the founder, has not stopped starting a business since he was "kicked out" by Luckin Coffee for financial fraud. The earliest entrepreneurial project was shared space, followed by funny faces, sharp-tongued heroes, and now Coffee Coffee. After two years, the two "master and apprentice" are back together and "kill" the coffee field together, but in the face of increasingly fierce competition, it remains to be seen whether Kudi Coffee can replicate Lucky's success.

Photo Source: Internet

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