https://www.scmp.com/rss/502304/feed The latest news, analysis and opinion on Luckin Coffee. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Luckin Coffee is considering a Hong Kong listing, as China’s Starbucks challenger charts a comeback from its 2020 Nasdaq expulsion after it overhauls its business of selling coffee. The chain, headquartered in the Fujian provincial city of Xiamen, obtained a so-called “light touch provisional liquidation” approval from the Cayman Islands that allowed a new management team to work with its liquidator to keep its business growing in China after firing three senior executives for fraud. That helped... https://www.scmp.com/business/article/3177072/luckin-coffee-plans-list-hong-kong-chinese-starbucks-wannabe-plans?utm_source=rss_feed https://www.scmp.com/business/article/3177072/luckin-coffee-plans-list-hong-kong-chinese-starbucks-wannabe-plans?utm_source=rss_feed Mon, 09 May 2022 12:45:18 +0000 Luckin Coffee, once hailed as China’s homegrown rival to Starbucks, has found itself in seriously hot water.  The chain was forced to file for bankruptcy earlier last month amid claims it engaged in the phenomenon of “adding water.”  The term “adding water,” or jia shuifen, harkens to a practice of manipulating accounting statistics to create false narratives. In Luckin’s case, it involved the alleged fabrication of more than US$340million in revenue to give investors the impression it was... https://www.scmp.com/business/how-chinas-very-own-starbucks-went-bust/article/3123911?utm_source=rss_feed https://www.scmp.com/business/how-chinas-very-own-starbucks-went-bust/article/3123911?utm_source=rss_feed Wed, 03 Mar 2021 10:30:56 +0000 “You might not have to make that trip to the bank after all,” Rob, a friend, messaged me over WeChat the other day. He attached a press release saying Alipay had launched an international version of its mobile payments platform for visitors to China. Named “Tour Pass,” the app can be used for up to 90 days and could prove handy for me – I had moved from Hong Kong to Beijing for three months just over a month ago. The last time I lived in Beijing, five years ago while studying at Peking... https://www.scmp.com/tech/life-china-without-alipay-or-wechat-pay-still-rough/article/3040203?utm_source=rss_feed https://www.scmp.com/tech/life-china-without-alipay-or-wechat-pay-still-rough/article/3040203?utm_source=rss_feed Mon, 02 Dec 2019 08:20:16 +0000