China Securities Regulatory Commission (the CSRC) pays high attention to the claims of accounting fraud by Luckin Coffee Inc. and strongly condemns the company’s misconduct in fabricating its financial reporting. A publicly traded company, regardless of listing location, shall strictly abide by the laws and regulations of the relevant market and fulfill its obligations of information disclosure truthfully, accurately, and completely.
With zero tolerance toward securities fraud, the CSRC will facilitate related investigations into the fraud allegations according to law and under applicable international framework for regulatory cooperation in the securities market to effectively protect the rights and interests of investors. Luckin Coffee Inc., incorporated in Cayman Islands, filed its registration statements for securities offering with overseas regulator and listed its shares for trading on the Nasdaq Stock Market.
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