Come with the earth! Lucky publicly announced that it will return to the United States for listing!

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A few days ago, according to a video released by Xiamen City Federation of Industry and Commerce, Guo Jinyi, co-founder and CEO of Ruixing Coffee, said at Xiamen Entrepreneur Day Conference in 2025,"Under the guidance of the municipal party committee and municipal government, we are actively promoting the process of returning to the listing of the main board of the United States."

In May 2019, Lucky was listed on NASDAQ in the United States. In January 2020, an 89-page anonymous investigation report pointed out that Switzerland survived large-scale financial fraud. After investigation, the U.S. SEC finally determined that Lucky's inflated revenue by more than US$310 million from April 2019 to January 2020. This financial fraud incident caused Ruixing's share price to plummet and its market value evaporated by more than 30 billion yuan.

In June of the same year, Ruixing was forcibly delisted by Nasdaq. It also faced an SEC fine of US$180 million and an investor class action lawsuit compensation of US$175 million. The total expenditure of approximately 2.5 billion yuan almost exhausted its cash flow at the time. It also severely damaged Ruixing and retreated from the U.S. main board. Later, Dazheng Capital took over Ruixing, eliminated former Ruixing board members Lu Zhengyao and others, appointed internal senior Guo Jinyi as the new CEO, and initiated comprehensive rectification.

Five years have passed, Luckin, which was teetering on the edge of the cliff, has now transformed into China's largest coffee chain brand, with a total number of stores surpassing Starbucks China, exceeding 20,000 in 2024, and its market value as of November 11 is approximately US$10.9 billion.

During this period, industry discussions on when Lucky will return to the U.S. market have not stopped. The most recent event that attracted the attention of all sectors of society should be that Lucky opened two stores in New York, USA in July this year. At that time, some media noticed that the location of Lucky's New York store was close to that of Starbucks stores, and believed that Lucky intended to compete with Starbucks. They speculated that this move might be a precursor to Lucky's return to the U.S. listing.

But it was not until November 3 that Lucky announced its plan to return to the U.S. main board market for the first time in public in China. Guo Jinyi said at the conference that with the comprehensive resolution of problems left over from history and the continuous improvement of the company's business situation, Luckin Coffee, under the guidance of the Xiamen Municipal Party Committee and Municipal Government, is actively promoting the process of returning to the main board of the United States. Once this work is completed, it will become a major event with international influence.

Regarding the specific timetable for returning to listing on the main board of the United States, Luckin responded to the media and said,"Luckin Coffee will continue to pay attention to the U.S. capital market, but the company currently has no fixed timetable for returning to listing on the main board. Our primary task at this stage is still Implement the company's business strategy and focus on development."

It is worth mentioning that Bloomberg recently quoted "people familiar with the matter" as saying that Dazheng Capital, the largest shareholder of Ruixing Coffee, is considering bidding for COSTA, a well-known British coffee chain, revealing that the investment company has been evaluating whether to bid for COSTA, which is sold by Coca-Cola. Offer, the specific structure of any acquisition plan has not yet been finalized, and it is unclear whether Dazheng Capital will bid on its own or through Ruixing Coffee.

After the news came out, Ruixing and its major shareholder Dazheng Capital did not respond to this. However, some people in the investment circle believe that this transaction rumor will help supplement Lucky's global growth narrative and help it promote its return to the main board of the U.S. stock market.

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