Luckin Coffee: Die Kaffeehauskette hat Starbucks in China überholt - Aktienanalyse (Seite 197) | Diskussion im Forum
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14.5.
Luckin Coffee Still Expanding Full Steam Despite Sales Scandal
https://www.bloomberg.com/news/articles/2020-05-14/luckin-co…
...
Luckin Coffee Inc. is opening stores at a breakneck pace in China and pledging internal company change as it tries to move beyond an escalating scandal involving $310 million in fraudulent sales.
The coffee chain opened 10 outlets a day in its home market in the second quarter as of May 12, bringing its total number of stores to 6,912, according to Thinknum Alternative Data, a New York-based company that collates company operations data from public channels.
While that marks a slowdown from the first quarter -- when Luckin opened an average of 20 stores a day after raising some $778 million in capital markets -- it’s more rapid than the same period a year ago. This furious growth took place despite Luckin revealing April 2 that a large portion of its revenue last year was likely faked.
Luckin appears to be trying to use its fast-growth model to try and stay afloat amid the scandal that has claimed a raft of top executives and seen its Nasdaq-traded shares suspended. The chain, which had ambitions to beat Starbucks Corp. in China’s budding coffee market, faces scrutiny from regulators there and in the U.S. The controversy is a black eye for China Inc., which already faces headwinds from the trade war with the U.S. and proposed legislation to de-list Chinese companies from American exchanges.
“Luckin is still opening stores quickly,” said Justin Zhen, a co-founder of Thinknum Alternative Data. “Ten new stores a day is still extremely fast for any restaurant company.”
...
Luckin Coffee Still Expanding Full Steam Despite Sales Scandal
https://www.bloomberg.com/news/articles/2020-05-14/luckin-co…
...
Luckin Coffee Inc. is opening stores at a breakneck pace in China and pledging internal company change as it tries to move beyond an escalating scandal involving $310 million in fraudulent sales.
The coffee chain opened 10 outlets a day in its home market in the second quarter as of May 12, bringing its total number of stores to 6,912, according to Thinknum Alternative Data, a New York-based company that collates company operations data from public channels.
While that marks a slowdown from the first quarter -- when Luckin opened an average of 20 stores a day after raising some $778 million in capital markets -- it’s more rapid than the same period a year ago. This furious growth took place despite Luckin revealing April 2 that a large portion of its revenue last year was likely faked.
Luckin appears to be trying to use its fast-growth model to try and stay afloat amid the scandal that has claimed a raft of top executives and seen its Nasdaq-traded shares suspended. The chain, which had ambitions to beat Starbucks Corp. in China’s budding coffee market, faces scrutiny from regulators there and in the U.S. The controversy is a black eye for China Inc., which already faces headwinds from the trade war with the U.S. and proposed legislation to de-list Chinese companies from American exchanges.
“Luckin is still opening stores quickly,” said Justin Zhen, a co-founder of Thinknum Alternative Data. “Ten new stores a day is still extremely fast for any restaurant company.”
...
Antwort auf Beitrag Nr.: 63.649.336 von faultcode am 12.05.20 17:19:10Ergänzung: kein Wort in dieser Pressemitteilung zu Lu Zhengyao (dem Gründer) 
Ich gehe naiverweise davon aus, das er immer noch Chairman of the Board ist.
Man könnte ja annehmen, daß bei so einem wichtigen Umbau der Unternehmensverwaltung diese Tatsache mit einem Nebensatz nochmal erwähnt wird.
Als ob er mit dem Ganzen nichts zu tun hat.
Wohl kaum.
Ich gehe naiverweise davon aus, das er immer noch Chairman of the Board ist.
Man könnte ja annehmen, daß bei so einem wichtigen Umbau der Unternehmensverwaltung diese Tatsache mit einem Nebensatz nochmal erwähnt wird.
Als ob er mit dem Ganzen nichts zu tun hat.
Wohl kaum.
12.5.
Luckin Coffee Announces Changes to Board of Directors and Senior Management
https://www.marketwatch.com/press-release/luckin-coffee-anno…
...
Luckin Coffee Inc. (the "Company") (NASDAQ: LK), today announced changes to its Board of Directors ("Board") and senior management, effective May 11, 2020.
During its ongoing internal investigation (the "Internal Investigation"), the Special Committee of the Board (the "Special Committee") has brought to the attention of the Board evidence that sheds more light on the fabricated transactions described in the press release issued by the Company on April 2, 2020.
After considering such information, the Board has terminated Ms. Jenny Zhiya Qian and Mr. Jian Liu from the positions of the Chief Executive Officer and the Chief Operating Officer, respectively. The Board also demanded and received from Ms. Qian and Mr. Liu their resignations from the Board. In addition to Ms. Qian and Mr. Liu, since the beginning of the Internal Investigation, the Company has placed six other employees, who were involved in or had the knowledge of the fabricated transactions, on suspension or leave.
The Board has appointed Mr. Jinyi Guo, a director to the Board and a Senior Vice President of the Company, as the Acting Chief Executive Officer of the Company. The Board also announced the appointment of Mr. Wenbao Cao and Mr. Gang Wu as directors to the Board.
Following the changes to the Board, the Compensation Committee of the Board currently consists of Mr. Sean Shao, Mr. Erhai Liu and Mr. Jinyi Guo, with Mr. Sean Shao serving as its chairman; the Nominating and Corporate Governance Committee of the Board currently consists of Mr. Wai Yuen Chong, Mr. David Hui Li and Mr. Jinyi Guo, with Mr. Wai Yuen Chong serving as its chairman; the composition of Audit Committee of the Board remains unchanged.
Mr. Wenbao Cao has served as Senior Vice President of the Company in charge of store operations and customer service since June 2018. Before joining the Company, Mr. Cao had over 23 years of experience at McDonald's China and served in various positions, including vice president and North regional manager at McDonald's China.
Mr. Gang Wu has served as Vice President of the Company in charge of strategic partnerships since March 2019, and has also been in charge of supply chain management since April 2020. Before joining the Company, Mr. Wu had over 26 years of experience in airline industry, including holding senior management positions at China United Airlines, China Eastern Airlines and Air China.
...
Luckin Coffee Announces Changes to Board of Directors and Senior Management
https://www.marketwatch.com/press-release/luckin-coffee-anno…
...
Luckin Coffee Inc. (the "Company") (NASDAQ: LK), today announced changes to its Board of Directors ("Board") and senior management, effective May 11, 2020.
During its ongoing internal investigation (the "Internal Investigation"), the Special Committee of the Board (the "Special Committee") has brought to the attention of the Board evidence that sheds more light on the fabricated transactions described in the press release issued by the Company on April 2, 2020.
After considering such information, the Board has terminated Ms. Jenny Zhiya Qian and Mr. Jian Liu from the positions of the Chief Executive Officer and the Chief Operating Officer, respectively. The Board also demanded and received from Ms. Qian and Mr. Liu their resignations from the Board. In addition to Ms. Qian and Mr. Liu, since the beginning of the Internal Investigation, the Company has placed six other employees, who were involved in or had the knowledge of the fabricated transactions, on suspension or leave.
The Board has appointed Mr. Jinyi Guo, a director to the Board and a Senior Vice President of the Company, as the Acting Chief Executive Officer of the Company. The Board also announced the appointment of Mr. Wenbao Cao and Mr. Gang Wu as directors to the Board.
Following the changes to the Board, the Compensation Committee of the Board currently consists of Mr. Sean Shao, Mr. Erhai Liu and Mr. Jinyi Guo, with Mr. Sean Shao serving as its chairman; the Nominating and Corporate Governance Committee of the Board currently consists of Mr. Wai Yuen Chong, Mr. David Hui Li and Mr. Jinyi Guo, with Mr. Wai Yuen Chong serving as its chairman; the composition of Audit Committee of the Board remains unchanged.
Mr. Wenbao Cao has served as Senior Vice President of the Company in charge of store operations and customer service since June 2018. Before joining the Company, Mr. Cao had over 23 years of experience at McDonald's China and served in various positions, including vice president and North regional manager at McDonald's China.
Mr. Gang Wu has served as Vice President of the Company in charge of strategic partnerships since March 2019, and has also been in charge of supply chain management since April 2020. Before joining the Company, Mr. Wu had over 26 years of experience in airline industry, including holding senior management positions at China United Airlines, China Eastern Airlines and Air China.
...
Antwort auf Beitrag Nr.: 63.502.001 von Chris_M am 29.04.20 16:53:35Ich denke mal das wird dieses Jahr nichts mehr,wenn überhaupt, vergleichbar eventuell mit Sinovac Biotech.
Trading Spotlight
Die Untersuchungen bei Wirecard dauerten ja auch Monate ... verständlich, denn eine Konzernprüfung ist sicher nicht vergleichbar mit der Prüfung eines Haushaltsbuches. ... nur Wirecard war weiter handelbar ... Ich sehe das noch ganz gelassen 
... Auch diejenigen die Short sind, können so nicht raus und zahlen schön Zinsen
... Auch diejenigen die Short sind, können so nicht raus und zahlen schön Zinsen
29.4.
US SEC investigates Luckin Coffee over accounting scandal: WSJ
https://www.channelnewsasia.com/news/business/us-sec-investi…
...
The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.
Earlier this month, Luckin Coffee said an internal investigation revealed that its chief operating officer and other employees were suspended for fabricated sales deals worth about 2.2 billion yuan (US$310.77 million).
Shares in Luckin, which aggressively pitched itself as a challenger to Starbucks in China, have plunged by more than 90per cent from their January high following the news.
China's State Administration for Market Regulation has also launched an inspection into Luckin, joining the country's securities watchdog.
Luckin and the U.S. SEC were not immediately available for a comment.
--> bekanntlich laufen solche (SEC-)Untersuchungen über Wochen und eher über Monate hinweg.
Insbesondere in diesem Fall, weil ja Dokumente zwischen Hongkong + China und den USA ausgetauscht werden (müssen).
Und das kann doch recht lange dauern mit all den beglaubigten Übersetzungen hin und her und möglicherweise der Zensur in China und deren sonstigen Eingriffen.
Und so lange muss man mMn auch mit der Aussetzung des ADS-Handels rechnen.
ADS = American Depositary Shares
US SEC investigates Luckin Coffee over accounting scandal: WSJ
https://www.channelnewsasia.com/news/business/us-sec-investi…
...
The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.
Earlier this month, Luckin Coffee said an internal investigation revealed that its chief operating officer and other employees were suspended for fabricated sales deals worth about 2.2 billion yuan (US$310.77 million).
Shares in Luckin, which aggressively pitched itself as a challenger to Starbucks in China, have plunged by more than 90per cent from their January high following the news.
China's State Administration for Market Regulation has also launched an inspection into Luckin, joining the country's securities watchdog.
Luckin and the U.S. SEC were not immediately available for a comment.
--> bekanntlich laufen solche (SEC-)Untersuchungen über Wochen und eher über Monate hinweg.
Insbesondere in diesem Fall, weil ja Dokumente zwischen Hongkong + China und den USA ausgetauscht werden (müssen).
Und das kann doch recht lange dauern mit all den beglaubigten Übersetzungen hin und her und möglicherweise der Zensur in China und deren sonstigen Eingriffen.
Und so lange muss man mMn auch mit der Aussetzung des ADS-Handels rechnen.
ADS = American Depositary Shares
Wird die Aktie überhaupt nochmal handelbar sein? Die Läden haben meiner Meinung noch offen.
Antwort auf Beitrag Nr.: 63.427.493 von faultcode am 23.04.20 13:05:3024.4.
Luckin Coffee investors rue implosion on US$400 million bond bet after accounting scandal
https://finance.yahoo.com/news/luckin-coffee-investors-rue-i…
...
Investors in Luckin Coffee's US$400 million of convertible bonds are ruing their fate after an accounting scandal sent the securities into distressed territory, barely three months after the debt sale.
The notes, which pay 0.75 per cent annual coupon and confer holders the right to convert them into stock, plunged to as low as 10 cents on the dollar, after the Chinese coffee chain said top executives fabricated sales amounting to 2.2 billion yuan (US$311 million). The bonds recently fetched about 20 cents, yielding more than 35 per cent.
Luckin Coffee's stock has been halted from trading on Nasdaq since April 7, after it plunged 83 per cent over three days to US$4.39, leaving bond holders deeply out of money. The scandal has triggered scores of lawsuits from holders of its American depositary shares in yet another reminder of governance risk among US-listed Chinese entities against the backdrop of acrimonious ties with the US on trade and health crisis.
"There have been frauds and bankruptcies in the past by Chinese ADR-listed companies with outstanding US convertible bonds," said Skander Chabbi, head of convertible bonds in Paris at BNP Paribas Asset Management. "Usually the companies lose their ADR listings."
The speed of the implosion has some parallels in the recent history of Asian bond market with accounting issues, including one at Noble Group. The Hong Kong-based commodity trader sold US$750 million of bonds in March 2017, which tumbled two months later as a surprise profit warning precipitated the biggest debt restructuring in the region at the time.
The problem with an issuer faking sales, among other things, is that it makes a big dent to a company's net income, and therefore crushes all expectations of it breaking even in the short term, Chabbi said.
...
Luckin Coffee investors rue implosion on US$400 million bond bet after accounting scandal
https://finance.yahoo.com/news/luckin-coffee-investors-rue-i…
...
Investors in Luckin Coffee's US$400 million of convertible bonds are ruing their fate after an accounting scandal sent the securities into distressed territory, barely three months after the debt sale.
The notes, which pay 0.75 per cent annual coupon and confer holders the right to convert them into stock, plunged to as low as 10 cents on the dollar, after the Chinese coffee chain said top executives fabricated sales amounting to 2.2 billion yuan (US$311 million). The bonds recently fetched about 20 cents, yielding more than 35 per cent.
Luckin Coffee's stock has been halted from trading on Nasdaq since April 7, after it plunged 83 per cent over three days to US$4.39, leaving bond holders deeply out of money. The scandal has triggered scores of lawsuits from holders of its American depositary shares in yet another reminder of governance risk among US-listed Chinese entities against the backdrop of acrimonious ties with the US on trade and health crisis.
"There have been frauds and bankruptcies in the past by Chinese ADR-listed companies with outstanding US convertible bonds," said Skander Chabbi, head of convertible bonds in Paris at BNP Paribas Asset Management. "Usually the companies lose their ADR listings."
The speed of the implosion has some parallels in the recent history of Asian bond market with accounting issues, including one at Noble Group. The Hong Kong-based commodity trader sold US$750 million of bonds in March 2017, which tumbled two months later as a surprise profit warning precipitated the biggest debt restructuring in the region at the time.
The problem with an issuer faking sales, among other things, is that it makes a big dent to a company's net income, and therefore crushes all expectations of it breaking even in the short term, Chabbi said.
...
23.4.
Luckin Collapse Adds to Credit Suisse’s Asian Loan Losses
https://finance.yahoo.com/news/luckin-collapse-adds-credit-s…
...
Credit Suisse Group AG was stung by the collapse of Luckin Coffee Inc. in China following an accounting scandal, which led to a five-fold increase in Asian loan-loss provisions.
The Swiss bank set aside 97 million Swiss francs ($100 million) for soured loans, primarily related to three cases, the largest of which was Luckin Coffee, according to a person familiar with the matter. The bank only referred to a “Chinese food and beverage company” in its earnings statement Thursday.
Credit Suisse led the initial public offering for Luckin in New York last year and is among the biggest creditors on defaulted loans to Luckin founder Lu Zhengyao. The bank provided about $100 million in margin loans before accounting fraud allegations at the Chinese company triggered a collapse in the stock this month.
Luckin, the biggest challenger to Starbucks Corp. in China, has said its chief operating officer and some of its employees may have fabricated about $310 million in sales.
Credit Suisse Chief Executive Officer Thomas Gottstein declined to comment on Luckin in a Bloomberg Television interview Thursday.
“This episode is unfortunate that it happened but we’re still at the beginning of various investigations” involving auditors and lawyers, he said. “Too many parties involved to make an early conclusion.” (*)
Morgan Stanley, Credit Suisse and Haitong International Securities Group were among the biggest participants in $518 million of margin loans to Lu that are now in default. Haitong put up $140 million, while Morgan Stanley and Credit Suisse lent about $100 million each. Goldman Sachs Group Inc. and China International Capital Corp. had smaller exposures.
Luckin remains halted from trading on the Nasdaq pending the accounting review. The shares last traded at $4.39 on April 6, down 91% from its January high, and well below the $17 IPO price when Credit Suisse and other banks took it public in July.
...
(*) damit wird der Trading halt bei LK wohl noch eine Weile bestehen bleiben. Vor allem, weil bei so einem (mittlerweile) großen Unternehmen in China eben die CCP auch noch mitreden will/wird:
• wer muss am Ende wieviel Gesicht verlieren?
Luckin Collapse Adds to Credit Suisse’s Asian Loan Losses
https://finance.yahoo.com/news/luckin-collapse-adds-credit-s…
...
Credit Suisse Group AG was stung by the collapse of Luckin Coffee Inc. in China following an accounting scandal, which led to a five-fold increase in Asian loan-loss provisions.
The Swiss bank set aside 97 million Swiss francs ($100 million) for soured loans, primarily related to three cases, the largest of which was Luckin Coffee, according to a person familiar with the matter. The bank only referred to a “Chinese food and beverage company” in its earnings statement Thursday.
Credit Suisse led the initial public offering for Luckin in New York last year and is among the biggest creditors on defaulted loans to Luckin founder Lu Zhengyao. The bank provided about $100 million in margin loans before accounting fraud allegations at the Chinese company triggered a collapse in the stock this month.
Luckin, the biggest challenger to Starbucks Corp. in China, has said its chief operating officer and some of its employees may have fabricated about $310 million in sales.
Credit Suisse Chief Executive Officer Thomas Gottstein declined to comment on Luckin in a Bloomberg Television interview Thursday.
“This episode is unfortunate that it happened but we’re still at the beginning of various investigations” involving auditors and lawyers, he said. “Too many parties involved to make an early conclusion.” (*)
Morgan Stanley, Credit Suisse and Haitong International Securities Group were among the biggest participants in $518 million of margin loans to Lu that are now in default. Haitong put up $140 million, while Morgan Stanley and Credit Suisse lent about $100 million each. Goldman Sachs Group Inc. and China International Capital Corp. had smaller exposures.
Luckin remains halted from trading on the Nasdaq pending the accounting review. The shares last traded at $4.39 on April 6, down 91% from its January high, and well below the $17 IPO price when Credit Suisse and other banks took it public in July.
...
(*) damit wird der Trading halt bei LK wohl noch eine Weile bestehen bleiben. Vor allem, weil bei so einem (mittlerweile) großen Unternehmen in China eben die CCP auch noch mitreden will/wird:
• wer muss am Ende wieviel Gesicht verlieren?
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