Luckin Coffee

Lu Zhengyao has reformed his strategic preference for capital-intensive subsidies in favor of a patient and measured approach.

Lu was booted from Luckin and evaded criminal charges. Now, he’s about to launch a 500-store noodle chain.

The company plans to use the money to facilitate its proposed offshore restructuring and fulfill its obligations under the USD 180 million settlement with the US SEC.

Despite a financial scandal, Luckin has kept all its stores in China open and stayed in business, paying suppliers and employees.

The pandemic accelerated tech trends that will continue to dominate daily life in 2021.

In September, Luckin was fined USD 8.83 million in China.

The tensions between the two countries and the Luckin Coffee accounting scandal pushed the US regulator to move forward and impose new rules.

And there are more penalties coming its way.