Personal statements of five employees: Luckin Coffee I met in the fraud storm.

Luckin Coffee's "self-exposure" of 2.2 billion yuan of financial fraud continues to ferment, and the special investigation is underway. China Securities Regulatory Commission said that it was "highly concerned about Luckin Coffee's financial fraud and strongly condemned the company's financial fraud".

On April 5, Lu, the chairman of Luckin Coffee, said in the circle of WeChat friends, "I personally blame myself very much. Regardless of the final findings of the independent commission, I will bear my due responsibility. "

This former star startup company, a cutting-edge Chinese stock with a new listing record, was caught in the whirlpool of public opinion because of financial fraud. Supervision, questioning, and saliva came at it like a storm. At the same time, it is facing the collapse of trust, legal proceedings, and business crisis.

Finance became the first fallen domino. It all started with a short report released by Muddy Waters more than two months ago, which claimed that Luckin Coffee's revenue and profit data were greatly exaggerated.

According to the short-selling report, Ruixing's fraud methods focus on the following points:

1. Exaggerate the number of shop orders by taking meal codes and jumping numbers;

2. Exaggerate the unit price of commodity sales, the actual unit price is much lower than the price announced by Ruixing, and the expansion range is12.3%;

3. Exaggerate the average quantity of goods per homemade order;

4. Falsely report the advertising expenditure of Focus Media, and falsely increase the operating profit of stores. Ruixing did not really exceed the breakeven point at the store level, and the actual loss was as high as 24.7%-28%. ?

The allegations of financial fraud were finally confirmed by the special committee of Ruixing, which initially determined that Ruixing had inflated its sales by 2.2 billion yuan. However, the specific method of counterfeiting is still a mystery.

This time, Burning Finance interviewed five Ruixun employees who are working or leaving. They told us the other side of Ruixing with their own personal experiences.

More than 70% of the orders in the store are free, and the company sends an email to inform that the orders will "jump".

Deputy Manager of Liu Fei Lejin Coffee

I joined Luckin Coffee last September and worked as an assistant manager in a store in a northern city. At first, store orders did not skip orders. Then one day, the company sent an email to inform everyone that the order number rules were going to be changed. For example, the previous receipt was 1, 2, 3, and it was changed to 1, 3, 7.

At that time, I thought there was no problem, because it was still very common in the catering industry. I thought it might be to avoid letting my peers know the real sales volume of the store, and I didn't think much.

There are three people in our shop, a manager, an assistant manager and a barista. Usually there are two people on duty in the shop. Customers place orders online, so there is no need for a cashier. Two people are enough.

We are a shopping center. On weekdays, the orders are basically white-collar office workers, and there are more people shopping on weekends. There are more takeout on weekdays and more self-help on weekends. Coffee still sells the most, followed by bread, deer tea and snacks.

Under normal circumstances, in-store orders are around 100, but most of them are free orders. When I first came, 90% of the orders in the store were free, and now about 70% of the orders are free. The company has various subsidy activities, such as free first cup, full reduction and coupons, which leads many users to order free coffee.

The biggest feeling in Ruixing is that the company doesn't feel at home with its employees. I have an intern who used to work in Starbucks. He told me directly that he thought Starbucks was good because the working atmosphere was pleasant, just like family and friends, but he came to Ruixing to make money, that's all.

Ruixing does pay more than Starbucks. The basic salary of the deputy store manager is 3000, and after deducting various performance expenses, he finally gets about 3500. Starbucks should be lower, but the benefits of Starbucks will be better. Ruixing has no welfare.

This company is very hard on its employees. For example, there are bad reviews in the store because customers are not satisfied with the taste, which has nothing to do with the operation of the store, because we make coffee by machine according to the standards set by the company, but the company will still deduct the salary of the manager.

When the shop is basically not idle, it has to deal with various inspections every day. The company has a quality management department. As long as there are problems in the store, the performance of this month will definitely be gone. However, even if you get full marks, the company will not give you any reward.

Companies usually have some training, but they are very simple things, which have no practical use, just operating machines or something. Our barista also has a name, called "Coffee Keymaker". Because the coffee machine is operated by a fool, you don't need any skills, just press the button. Anyway, I feel that I have worked as a manager in Ruixing's store, and I have no core competitiveness when I go out, because anyone can do these jobs. But Ruixing's raw materials are fine, and coffee beans are also foreign Arabica coffee beans.

I'm not surprised to hear that Ruixing made financial fraud. We employees at the lowest level, that is, finding a place to work, are now eating melons with everyone. There is something wrong with the company, which has nothing to do with us. I'm not the mastermind, let alone an accessory. I'm already planning to leave my job and jump ship. For us, it's the same everywhere.

Ruixing was not short of money in the early days. As long as he took a fancy to a piece of land, it was 20% higher than the market price.

Luckin coffee shop developer before the Song Dynasty.

Joined on 20 18, and now has left. At first, there were more than 70 people in this position in Beijing. Their job was to go out for a run every day and report to the store. The company gave me the impression that the pace was too big, the money was too extravagant, and there were many people muddling along.

In 20 18, Ruixun's goal in Beijing was to open 350 new stores, probably because of the pressure and heavy tasks. I found that the shops they reported were messy and the superiors were not strict.

Everyone can choose a store every two days on average, which means that about 30 stores are reported to the supervisor for review every day. The supervisor did this in one day and didn't have time to go to the field to see it.

For example, someone reported a shop in the men's bathroom on the first floor of an office building, but only wrote the address, not the specific situation, and the supervisor passed. Looking at the scene through the post-construction station, the pit is still there. The property said, if you smooth out the pit, this place is yours. Even if the women's bathroom is still nearby, Jianshe won't say anything, because he also has the task of opening a shop quickly. This is one of the top ten jokes of the year.

For another example, I have done catering before, and I know that the rent of a shopping mall is 10 yuan per square meter, but my colleagues report that it is 16 yuan per square meter, which is nearly 60% more. There are few people in this shopping mall, and the supervisor has passed.

By the end of the year, the task of opening a shop was completed and a prize was awarded, but two weeks later, something happened.

At the end of 20 18, some media reported that Ruixing opened a shop in the corner. After the incident was exposed, the head of the department was transferred to the construction department and the head of the construction department came up.

A car driving on the highway suddenly braked.

The first task of the new director is to replace all the stores with good ones. At that time, it was said internally that the cost of a cup of coffee converted from rent was 13.5 yuan. According to this calculation, most shops are not making money. First of all, take-out is definitely a loss. The cost of a set of cups, paper bags and saucers is more than that of 3 yuan, plus more than half a cup of milk and a cup of coffee sold in 7 yuan, it is definitely a loss. We calculated internally that a store must sell at least 220 cups of coffee a day to cover the rental cost.

Ruixing asked Fengtai District and Fangshan District to open stores. In fact, these stores don't even have 50 orders a day. The developer was afraid of Ruixing's bankruptcy and took the initiative to buy coffee.

Later, when Ruixing opened the store, he began to let employees count their heads, but everyone was pretending. Without video, as many people as employees say.

If the perfect score is 100, after the new supervisor came in, the work standard was instantly raised from 10 to 99, many people jumped ship, and the team of 70 people instantly became 26 people.

Everyone has left, and Ruixing has recruited many college students from other places. Beijing has recruited about 60 people, none of whom are related majors. The company may find academic qualifications useful, but the location of this job needs to be negotiated with the developer and the property. These college students don't know anything about water and electricity at all, and finally 90% left.

That is, during that period (the end of 20 18 and the beginning of 20 19), Ruixing began to scrimp: the store rent was delayed by about 10 days, and the employee salary was delayed by about 5 days; It turns out that the storefront team is very luxurious, with a barista and only one store manager in the later period, and the rest are all college students.

I slowly discovered a problem. The new toll collectors began to report all kinds of shops that took kickbacks. For example, the newspaper owner said "the transfer fee of our store is 200,000 yuan" or "it needs 6,543,800+million power capacity increase fee", and the charge directly said "pay"; I have seen the contract of the Palace Museum, which is 6.5438+0.8 million, plus 360,000 introduction fee. These are all names for asking for money, from the initial black-box operation to the blatant report later.

In the early days of Ruixing, it was not bad money. As long as you look at a piece of land, how much does the company want, which is 20% higher than the market; At that time, there was a new store, and after paying the rent for three or five months, the supervisor suddenly stopped opening it. Finally, as long as one month's rent comes back, the money will be thrown away.

Suppliers downstream of Ruixing are also particularly profitable. At that time, someone came to me and said, "Luckin coffee plastic seal, if you take this project down, I will give you 200 thousand a year."

After working for a year, I felt that the company was going to die and left.

In order to meet the company's assessment standards, employees can only be forced to cheat.

Ella Luckin Coffee is a part-time barista.

After Ruixing exposed the fraud, the company held an emergency internal meeting to stabilize the morale of the army, but did not explain the incident itself. The clerk is only responsible for conveying the words "everything is fine".

The next day, the customer also knew the news, and the store directly broke the order. Originally, there were only more than 20 orders a day during the epidemic, and an average of 50 or 60 orders a year ago. On that day, I added the store manager and two people to make more than 70 orders/kloc-0.

The first free coffee in these lists is almost 1/3, and it is impossible to make money. Those who don't usually drink coffee on that day will also come and get a free cup of coffee. If they have coupons, they will place orders one by one, two by one and three by one. One day's materials can't do so many things at all, and it feels like paying off debts. If this state continues, I wonder how long it will last.

The number of stores in a region of Luckin Coffee will remain around three, including six or seven part-time employees who work in shifts. In fact, the workload is not small.

Basically, in order to retain full-time employees, the company will promote the full-time clerk to the position of deputy store manager within a few months. Part-time job is very casual. After a part-time job becomes a permanent job, it will still be charged by the hour. No performance commission, only a little increase in hourly wage, from the original 20 yuan/hour to 30 yuan/hour.

During the epidemic, many stores closed and more than 200 managers and deputy managers were idle at home. These people did not leave their jobs, but they did not get paid. Everyone is in a very embarrassing state. Employees want to leave, afraid they can't find a job, and the company wants to fire people. At this point, they are afraid of complications.

In fact, the company is quite chaotic, because the bad review rate of a store is directly related to the performance of the regional manager, so his authority is very large, and basically he can let whoever he wants go. For example, the assistant manager of a store was directly reduced from assistant manager to employee because the lid of the trash can was not covered in time.

Many times, in order to meet the assessment requirements, employees will have to make some "fake" actions.

For example, Ruixing has very strict control over inventory. If the cups and coffee beans consumed in a day are too different from the system, the district manager will find them within half an hour as soon as the data is submitted.

Because the system will predict itself, for example, the milk quantity of a cup of latte is 250ml, and the milk quantity of the system is 10L, and the milk quantity of this cup will be automatically deducted when making latte. However, the coffee machine is to be debugged. At this time, in order to match the milk quantity with the system, the store manager will adjust the milk quantity of the latte to 240ml, so the milk quantity will be more, so he will falsify the inventory quantity, so he is only afraid of "finding trouble with the top".

The company also has strict restrictions on the production time of beverages. It takes two minutes from receiving the order to scanning the code for delivery. In fact, time is very tight. If a single order accumulates, the store manager will ask the single order to be completed within 20 seconds after it arrives to meet the company's regulations, but in fact, the coffee has not been completed, and the deliveryman can only wait when he arrives.

At the same time, the waste in the store is also very serious. For example, to make a cup of compound juice, some raw materials only need 10ml, but a can of raw materials has 1L, which expires after two days of opening, and all of them are thrown out, but only one or two cups may be sold within two days.

At first, the standard for making a cup of coffee was fixed. In practice, customers often ask for less sugar or more milk, but the company is not allowed to do so. If we listen to our customers, we will only be forced to make mistakes. If the company finds that the inventory is inconsistent in the later period, it will shift the responsibility to the employees and deduct the performance.

In addition, every day from opening to closing, from data inventory to cleaning, we pay special attention to fineness. As a result, the company exposed the data fraud, and employees will definitely feel incredible, pretending to be fine and feeling against their conscience.

It is found that the sales data are for sale, but it is difficult to find out who it is.

Koko? Luckin Coffee employees

On the same day, after the company exposed financial fraud, Weibo Hot Search ranked third, and all employees will pay attention to it. Although it has no impact on our business, upstream and downstream suppliers are discussing it hotly these days, and our internal employees will also discuss it privately. But I can't reveal any inside information. The final explanation of this matter is subject to the official caliber of the company.

Liu Jian used to be the vice president of the headquarters and later became the chief operating officer. The department he manages is responsible for all the business related to income and expenditure. Theoretically speaking, the marketing department in charge of advertising business and the operation department in charge of data have nothing to do with him, but in fact he also has some control. If you open a new store, you need to go through the approval of Liu Jian's management department.

As for the report of short selling in muddy water, I think the accusation of jumping orders is not credible. As far as I know, the evidence does not prove that the company has done something in this regard. The single number on the receipt of Luckin Coffee is random, and the number of the receipt does not represent the actual number of cups sold. Many people will buy many cups in a single order.

The WeChat group captured in the Surabaya report is indeed our internal group, and the technicians will inform the store manager to adjust the order number. But the single number given is irregular, and each store is different. For example, in a store, the order number for the first cup in the morning is 200, and it was originally 400 at noon, but it may be adjusted back to 200.

Our consumption pattern is different from Starbucks. Starbucks' mode is to order food at the front desk, so their small ticket number will have the actual amount of products purchased and the information of invoicing. However, Ruixing placed the order in the APP, and the actual amount was only reflected in the user's APP. The receipt only shows the meal number and the product information purchased, and does not involve the amount. The actual sales, self-delivery and delivery ratio of the day will be reflected in the system OA.

The reason why we jump orders is that since 20 19, people have been investigating us by counting orders and asking shop assistants. In fact, competitors have been investigating Ruixing since 20 18, and they have used a similar method of counting orders, but there should be no camera.

During the muddy water investigation last year, we did find that it was very likely that some store managers sold the data privately. But this is also a hidden rule of the industry. Although the company will strictly investigate, it is difficult to find out who sold it. Because within the operation department, the sales data are public, and the store manager, operation manager, director of the operation department and the operation department of the headquarters can find these data in real time. They adjust the product distribution ratio according to the sales data every day.

Ruixing's operation department is sub-regional. Each city is divided into about 20 regions, and each region will be equipped with a regional operation manager. Each regional operation manager manages 10- 15 stores, and each region will have its own WeChat group, in which the sales data of each store will be reported every day. Leaders above the director level of the operation department can see the sales volume of all regions, regional managers can only see the volume of their own operation regions, and store managers can only see the volume of their own stores.

In fact, the whole operation department is only responsible for counting the order volume and customer complaints. The manager's performance is only linked to these two. Most users of Ruixing spend money by recharging coupons, and only the headquarters can see the cash flow. The store manager has no authority, so the store can't calculate the cash flow. At present, the requirement of every store is to sell as many as 400 cups as possible.

After the incident, Party A raised questions, and I was worried that opening a store would be affected.

Zhang Lin Lukin Coffee Shop Development Manager

Started on 20 18, and is still working. At present, our team has more than 30 people, and the number of team members can be doubled at the peak.

When I first joined the company, Rui Xing was crazy about opening a shop, and then gradually compressed it. In this process, our department changed three leaders, one at the end of 20 18 and one at the end of 20 19. The situation of each leader is different.

For example, on 20 18, the conditions for opening a store are relatively loose, so it is easy to open a store in Guo Mao or Wangjing. However, after the change of leadership, in 20 19, the company began to consider more and become stricter, such as not choosing more expensive stores and choosing more cautious areas.

Our leaders are basically from China. In fact, several leaders are similar. After all, they themselves came to a new field. They have a framework in China, and it will be quick to set up a new company. However, after entering a new field, many things have to be learned from scratch, and there will be some preliminary exploration processes.

At present, there are about 400 stores in Beijing, which is basically saturated. Coupled with the impact of the epidemic, so now our work is mainly to promote "ready-to-use" and "value for money", and there is no specific KPI.

Some stores closed after the meeting, and there are probably dozens in Beijing. For example, some take-away shops are too expensive. If they only do take-out, and the cost is too high, they will move the store to the first floor of the shopping mall and other places, which can be taken out or taken by themselves. One of our jobs is to stare at the data of Ruixing App. If there is a particularly high take-away order in the office building, we can open the store in that building.

At present, the take-away shops in Beijing have basically stopped. The main business is take-away plus in-store food or self-service stores. At present, self-service stores should account for more than 90%. Self-service stores generally have only one bar, with an area of about 30-40 square meters, and the cost is relatively low.

At the beginning of this year, I read the report of Surabaya and thought at that time that there might be more than one commodity in a single order, and there might be errors in the middle. In addition, Rui Xing's image has been advancing by leaps and bounds, but I didn't expect it to be so bad. After the accident, the company just sent a mass email saying that the company set up a special leading group to investigate the matter, and did not hold a meeting to arrange the follow-up of the matter. I guess the company may have a meeting for these things after the holiday.

After seeing the news, let's discuss it privately. At present, it has been questioned by some developers of Party A, and it is estimated that it will have some impact on our store opening or machine installation, but now because of the holiday, we still can't see how much impact it will have. Before that, the installation effect of Ruixing's coffee machine was OK. Last month, more than 65,438+000 machines were installed in Beijing, because it was relatively cheap compared with other brands in the market.

I think Ruixing's company is developing too fast and lacks some time to accumulate. For example, it takes time to maintain a store, because after a certain period of time, we can better understand all aspects of the store's data and slowly tap profits. But if you don't drive quickly, it won't meet the company's standards. The KPI of opening a store before this year is still quite heavy.

Personally, I think that the impact of fraud on the grassroots is not particularly great, and the key lies in the company's board of directors. At present, the company has no more development. I'm going to wait and see after the holiday. At present, I have no idea of leaving my job, but now I will be more worried about the future development of the company.

? This article comes to spontaneous combustion finance (ID:rancaijing) by | Li Ming Jin Yana.