Luckin coffee market research newsletter.

At the beginning of February this year, Luckin Coffee was exposed to fraud, and the amount of forged transactions reached 2.2 billion yuan. After the audit of 20 19 annual report found problems, the Board of Directors set up a special investigation committee. The Committee found that during the period from the second quarter of 2065438 to the fourth quarter of 2009, the company forged a transaction volume of 2.2 billion yuan, and the related costs and expenses increased accordingly. Of course, this self-explosion incident is not a conscience discovery of Ruixing, but more to avoid being ordered to withdraw from the market. The General Administration of Market Supervision issued a message to investigate the alleged unfair competition of Lejin Coffee Co., Ltd. and Lejin Coffee Co., Ltd. In this regard, Luckin Coffee staff responded to the reporter from Zhongxin.com. This will not affect the operation of the store. The company and stores are operating normally, and employees' salaries will be paid on time. At the same time, the company's employees are generally stable, and there is no large-scale employee turnover. Some employees leave their jobs as normal.

In February of this year, Luckin Coffee began to short the report released by Surabaya on Ruixing's alleged financial fraud. At that time, Luckin Coffee's response to this was groundless and maliciously interpreted muddy water. Ruixing will take appropriate measures to counter these malicious accusations and protect the interests of shareholders. However, only two months later, Ruixing exposed 2.2 billion yuan of forged transactions. This self-explosion directly caused the stock market value to plummet, with the largest drop of 85% and six blows. It closed down 75.57%, and the market value of more than 35 billion RMB evaporated overnight. On July 3 1, the Ministry of Finance, the State Administration of Markets and the China Securities Regulatory Commission successively issued documents to inform Luckin Coffee of the investigation and disposal of suspected financial fraud. The Ministry of Finance has determined that Ruixing has inflated its income by 21.1.90 billion yuan, and the General Administration of Market Supervision is handling illegal acts. Lukin Coffee responded to the investigation. On July 365, 438+0, the Ministry of Finance, the Ministry of Finance of official website and the General Administration of Market Supervision all publicized the survey results of Luckin Coffee. According to the investigation of the Ministry of Finance, Luckin Coffee inflated its income by 21.1.90 billion yuan, and inflated its profit by 908 million yuan, and will be given administrative punishment for the financial fraud of the main business entities of Luckin Coffee according to law.

Headquartered in Xiamen, Luckin Coffee was founded by Qian, the former chairman of Shenzhou Group, and is the largest chain coffee brand in China. Luckin Coffee takes coffee as its starting point and makes Ruixing a part of people's daily life as its vision. It makes full use of the new retail model of mobile Internet and big data technology, cooperates deeply with top suppliers in various fields and is committed to providing customers with high-quality, cost-effective and convenient products. Luckin Coffee's coffee beans won the gold medal in IIAC International Coffee Tasting Competition for two consecutive years. On 20 19, Ruixing was listed on Nasdaq, becoming the fastest IPO company in the world. The market value reached $4.25 billion. As a large domestic enterprise, it is really puzzling that such a thing happened.