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China's Luckin Coffee Was Fakin Its Financial Data
Posted on 4/2/20 at 10:50 pm
Posted on 4/2/20 at 10:50 pm
Luckin Coffee was touted by many to be the "Starbucks of China" and had an IPO on the Nasdaq last year. The valuation was $2.9 billion.
But now it's come out that Luckin fabricated approximately $310 million of its $720 million in revenue last year.
LINK
The bigger picture is buyer beware on any data from Chinese companies. There could be some nasty revelations in the next few months.
But now it's come out that Luckin fabricated approximately $310 million of its $720 million in revenue last year.
LINK
The bigger picture is buyer beware on any data from Chinese companies. There could be some nasty revelations in the next few months.
7
Posted on 4/2/20 at 10:51 pm to MikeyFL
So, China can frick up a cup of coffee too.
Scruffy is not surprised.
Scruffy is not surprised.
Posted on 4/2/20 at 10:56 pm to Scruffy
WhT should we do about China scruffy?
This post was edited on 4/2/20 at 10:57 pm
Posted on 4/2/20 at 10:57 pm to MikeyFL
Everything released by China is a lie. I’m not sure why anyone still believe their BS.
This post was edited on 4/2/20 at 10:58 pm
Posted on 4/2/20 at 10:59 pm to MikeyFL
Posted on 4/2/20 at 10:59 pm to Walt OReilly
Build a giant excavator and move the country into space.
Would take a really big excavator and a lot of time, but everyone is bored and we could probably pull it off quickly.
Scruffy will put the order in for the supplies from China.
Would take a really big excavator and a lot of time, but everyone is bored and we could probably pull it off quickly.
Scruffy will put the order in for the supplies from China.
Posted on 4/2/20 at 11:03 pm to MikeyFL
frick everything about China
Posted on 4/3/20 at 12:00 am to MikeyFL
On the risk of it being overused... China is asshoe
Posted on 4/3/20 at 12:01 am to Scruffy
quote:
Scruffy will put the order in for the supplies from China.
The flaw in your plan is that your supplies from Choina will break after very limited use.
Posted on 4/3/20 at 12:17 am to MikeyFL
China has a culture of cheating and fraud.
Posted on 4/3/20 at 12:27 am to MikeyFL
Anyone that trusts the goddamn commie chinese is a fool. I hope the mongols come back and finish them off
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