A cup of coffee worth 6.9 yuan or 9.9 yuan, is Luckin about to be launched on the market again? According to media reports, at the recent 2025 Xiamen Entrepreneur Day Conference, Guo Jinyi, co-founder and CEO of Luckin Coffee, said,Under the guidance of the Xiamen Municipal Party Committee and Government, the company is actively promoting the process of listing on the U.S. main board. Guo Jinyi said that after comprehensive internal and external investigations and serious handling, the original shareholders and teams related to the incident have completely withdrawn, and the new controlling shareholders and new management team have fully taken over.
"Ruixing has achieved nirvana and rebirth. Today's Ruixing, in addition to retaining its original name, has grown and transformed into a brand new company."
It is reported that Luckin Coffee was founded in 2017. It quickly occupied the market with its cost advantage, rapid store opening, huge financing and large-scale customer subsidies, and was listed on the NASDAQ in the United States in May 2019.
At the beginning of 2020, an anonymous organization submitted a research report to the short-selling agency Muddy Waters, pointing out that Ruixing’s financial and operational data were fraudulent.
The report shows,From April 2019 to January 2020, Luckin used related party transactions and other means to fabricate retail sales of more than US$300 million, and also inflated expenses of more than US$190 million to cover up its fraudulent activities.
Subsequently, the U.S. Securities and Exchange Commission (SEC) quickly launched a lawsuit against Ruixing.
In June of the same year, Luckin had no choice but to delist from Nasdaq, and later reached a settlement with the SEC and paid a fine of US$180 million.
However, Luckin later did not choose to mess up.
At present, Luckin has become China's largest chain coffee brand, with registered users exceeding 400 million, a total number of employees exceeding 170,000, and a total number of stores exceeding 26,000.
Taking the second quarter data of 2025 as an example, as of the end of June, Ruixing's net revenue reached 12.359 billion yuan, a year-on-year increase of 47%, and the second quarter GAAP operating profit increased 61.8% year-on-year to 1.700 billion yuan.
After delisting from Nasdaq, Luckin Coffee also switched to the US stock pink sheet market for trading.
As of the latest closing price on November 12, Eastern Time, Ruixing's pink sheet was trading at US$38.05 per share, an increase of 2370.78% compared to its US$1.54 per share in the pink sheet market in 2020.
