Delisting for one year

In June, 2020, Ruixing, which went public quickly in 18 months and set the world's fastest IPO record, was delisted for financial fraud, causing a sensation in the whole city. When the scenery was infinite, the market value was nearly 654.38+03 billion, but it fell dramatically from the altar.

The legendary company Luckin coffee quickly went public in only 18 months, setting the world's fastest IPO record and quickly delisted. What happened to Rui Xing after delisting?

Ruixing completed the process from zero to listing with a cup of coffee and 18.5 months, creating the myth of Ruixing. However, after listing 13 months, it was required to withdraw from the market due to financial fraud. It really is: watch him lift a tall building and watch his building collapse. How is Rui Xing now?

Fortunately, Rui quickly expanded the store by burning money from the beginning. So where does this capital come from?

China Iron Triangle: Lu and it is the capital operation relationship between them that enables Ruixing to continuously obtain funds.

Judging from the previous rounds of financing paths and the relationship between investors and Shenzhou Department, Ruixing is one of the projects of Shenzhou Department and its investors. Luckin coffee CEO Qian originally came from China. At the same time, the investors of Daxie Capital and Joy Capital are all investors of Shenzhou Group, and they have a long history of friendship with Lu. Mature entrepreneurs represented by Lu directly copied the internet style of CAR Inc and invaded the traditional coffee industry. In the way of capital invasion, we will quickly open stores, subsidize heavily to obtain traffic, and subvert the "third space" of the traditional coffee industry with the new retail business model.

In addition, the company acquired the capital platform of BlackRock, an investor of Starbucks, before listing, so that it can quickly land on the Nasdaq IPO even in the face of huge losses.

Rui's business model mainly adopts the new retail model, based on enterprise App and offline stores. Let's innovate through the mode, which will finally bring users a brand-new experience.

Lucky's mobile application covers the entire customer purchase process, providing customers with a 100% cashless environment. This improves the customer experience, improves the operational efficiency of Ruixing, and enables it to keep in touch with customers anytime and anywhere.

The destructive innovation of Luckin Coffee Channel caught all the people in the industry off guard. It has leisure shops, cache shops and kitchen shops, mainly taking the route of cache shops and kitchen, placing orders online, picking up goods in cache shops or delivering them directly to your door. This kind of channel innovation greatly reduces the cost of storefront and labor, so it can control the price. At the same time, many welfare subsidies have been set up to ensure the fission of seed users, and a steady stream of coupons and promotional activities have avoided users.

Summary of key events of Luckin coffee's return to the right track

20021April: Ruixing found Li Wei, the star of the annual draft with high topic, to shoot advertisements for the new products of the original coconut series. As soon as the original coconut series was put on the shelves, it became the "out-of-stock king" and exploded in stores in many cities across the country.

April, 20021year: Ruixing obtained a new round of financing with a total amount of USD 250 million, of which USD 240 million was led by Daxie Capital and USD 65.438+million was invested by Joy Capital. In addition, under certain conditions, Daxie Capital and Pleasant Capital can increase their capital by 65.438+0.5 billion dollars in proportion.

June, 20021year: the cumulative consumption of Luckin coffee exceeded 75 million, and the monthly sales of the original coconut series exceeded100000 cups, setting a new record for the sales of Ruixing new products.

July, 20021year: As of July, 2020, the number of Luckin coffee WeChat communities exceeded 9,000; There are more than 6.5438+0.8 million private domain users, of which more than 60% are active users. Private users directly contribute more than 35,000 cups a day. After users become private users, Ruixun's monthly consumption frequency increases by 30%, and the number of repurchases per week increases by 28%.

After the financial turmoil, under the governance of Guo Jinyi, Ruixing gradually got rid of the haze.

At the beginning of its establishment, Ruixing's barbaric growth rate was amazing. The company was established in June 20 17, and by the middle of 20 18, the number of its stores had exceeded 600. By the middle of 20 19, the number of Ruixing stores had exceeded 2960; By the end of 20 19, the number of its direct stores had recovered.

At that time, Ruixing also announced that the number of company stores would reach 10000 in 202 1 year. However, with the occurrence of financial fraud, the expansion of Ruixing gradually evolved into contraction.

By May 2020, 12, Ruixing has 69 12 stores in China; Six months later, the number dropped to 3898.

However, in addition to the sharp decline in the number of stores, Ruixing's operation is proceeding normally step by step even in the "darkest moment".

In the month when the financial fraud news came out, Ruixing was still launching new products, including the spring cherry blossom series and so on. In July, 2020, Ruixing, who just delisted from Nasdaq and was cooperating with the Cayman Islands Grand Court in debt restructuring, suddenly announced that "the cash flow of a single store is positive, or it will be profitable next year".

In September, Ruixing was punished by the General Administration of Market Supervision and the market supervision departments in Shanghai and Beijing, and launched a new series of thick milk products.

From the end of 2020 to the beginning of 20021,Ruixun, which was deeply involved in high-level infighting, paid a fine of10.8 billion US dollars and reached a settlement with the SEC, and disclosed the data of nearly 4,800 stores of Ruixun by the end of 2020 through Guo Jinyi's internal letter.

After solving the problem of Lu's "seizing power", Ruixing also accelerated the pace of reorganization.

In February, 20021,Ruixing disclosed that it had reached a settlement with the SEC on its investigation of fabricated transactions by some former senior executives and employees, and obtained the necessary approval from the court; In mid-March, Ruixing reached a restructuring support agreement with important creditors.

In April, American investors filed a class action lawsuit against Ruixing in Shanghai, which was the first lawsuit filed by China Stock Exchange in China. Ruixing also reached a new round of financing agreement with shareholders Dahuan Capital and Joy Capital, totaling 250 million US dollars, of which Dahuan Capital contributed 240 million US dollars. It is reported that this round of financing will be mainly used for Luckin coffee's overseas restructuring plan and for fulfilling the settlement agreement reached with the SEC. In addition, under certain conditions, Daxie Capital and Pleasant Capital can increase their capital by 65.438+0.5 billion dollars in proportion. This financing also shows that the capital market recognizes the prospect of Ruixing.

Lujin Coffee reissues the 20 19 annual report. After the revision, the company's network

The revenue was 3.025 billion yuan, although its revenue increased by 260% compared with 20 18, but this was mainly due to the company's investment in store expansion and the steady growth of the number of customers, but the cost brought to the company also increased significantly.

In 20 19, Ruixun's material cost, store operating cost, marketing and management expenses all skyrocketed, increasing by 205%, 177%, 167% and 282% respectively, which also led to the total operating and cost of the company of 6.237 billion yuan and an operating loss of 3,265,438.

Ruixing mentioned in the statement that by the end of June this year, the number of stores in Ruixing had exceeded 5,200, and the cumulative number of consumer users had exceeded 75 million.

Luckin Coffee has made a lot of progress on the way back to the right track, including gradually accelerating the pace of opening stores, reaching a settlement with the US Securities and Exchange Commission (SEC), and obtaining a new round of financing of 250 million US dollars from Chase Capital and Joy Capital.

At the same time, operators have also released a series of positive signals. According to publicly disclosed information, in the first three quarters of 2020, the single-season revenue of Lujin Coffee was 565 million, 980 million,165438+45 million, respectively, up by 18. 1%, 49.9% and 35.8% year-on-year. Last August, Luckin Coffee announced for the first time that the cash flow of a single store turned positive. According to the report released in June 5438+February 2020, more than 60% of the direct stores realized store profit in June 5438 +065438+ 10.

In order to adapt to the market, Ruixing has also continuously launched a series of teas that meet the tastes of Chinese people. It is worth mentioning that this year, the company created a new explosion of original coconut series. Under the out-of-circle marketing of the creative camper Li "YYDS", the monthly sales volume exceeded 6.5438+million cups, which set a new sales record for Ruixing.

China's coffee market has a huge expansion space. At present, the per capita annual consumption of coffee cups in China is only 6.2 cups, far lower than that in developed countries and Hongkong and Taiwan Province provinces. With the acceleration of urbanization, people's demand for refreshing drinks such as coffee is increasing. In the next five years, the market scale of freshly ground coffee is expected to maintain a high-speed growth of more than 30%, which is a track with very strong growth ability under the current macro background. In recent years, with the improvement of people's living standards, people's demand for the health and quality of tea products has gradually increased. Compared with the traditional instant or instant tea, the new tea, which is becoming more and more popular in recent years, is healthier in raw materials and ingredients, more innovative and diverse in formula, and the value of products and shops is more exquisite and distinctive. It is very suitable for taking photos and punching cards, which is very popular with young people. Moreover, judging from the growth rate of tea shops in various cities, the sinking market space is huge, and the growth rate far exceeds that of cities such as Beijing, Guangzhou and Shenzhen.

The company's major shareholders and senior executives are from "China Department" and have rich Internet experience, which has laid a solid foundation for Ruixing's rapid expansion. Ruixing's new retail model can be quickly replicated, and the company is also improving efficiency. Due to the scale effect, the cost is gradually reduced, while the innovation efficiency is further improved, and the company's business is gradually entering a positive cycle.

The company attracts consumers through convenient, high-quality and cost-effective products, and empowers with technology and data to change the traditional business model and create a unique business model. In the next step, the company will continue to expand its business categories and lay out unmanned retail, which is quite imaginative in the future.

Ruixing's "burning money" marketing model has gained national popularity, and the innovative new retail model has built a solid moat for Ruixing. Today, Ruixing is slowly coming out of the haze, the store is profitable as a whole, and everything is rejuvenating. In the process of learning Ruixing to do private domain traffic, we must first learn Ruixing's digital level.

Perhaps we should not overemphasize the so-called internet final thinking of the consumer industry. Determining a good brand foothold, providing high-quality user experience and improving their own infrastructure should be a problem of constant dynamic balance. To judge the future of a company, it is not what it did wrong before, but what it has done now, that is, the overall competitive advantage and intrinsic value of the company.

For Ruixing, whether it is to reach a restructuring support agreement with important creditors at the beginning of the year, complete a new round of financing, or formally put the baking base into production, it means that after Qian Fan, Ruixing is releasing more signs of improvement.

Related Q&A: How does Luckin Coffee modify the bound mobile phone number? First, open the Ruixing app, click "My", enter it in the upper left corner, click "Log out" and log in again with a different mobile phone number.

Luckin Coffee wechat official account unbinding operation:

1: Log in to the background of WeChat public platform.

2: Click the Security Assistant (drop down the webpage and set it below).

3: Click Modify to bind WeChat.

4: Scan with your mobile phone, you can unbind successfully, and then rebind.

5: You can also click the Security Center.

6: Then select the security center, details.

7: Then click Replace, or you can rebind a new micro signal.

Lujin Coffee (China) Co., Ltd. was established on March 28th, 20th18th, and its legal representative is Qian.

20 17 10, luckin coffee opened its first store in Yinhe soho.

20 17, 10, luckin coffee invited WBC (World Coffee Masters) champion Hideki Inozaki, Italian champion Andre Latouada and China champion Pan Zhimin as the chief coffee master.

2017165438+10, luckin coffee invited Tang Wei and Zhang zhen as brand spokespersons.

On June 0, 20 18, 18 was put into trial operation in Beijing, Shanghai and other cities 13. By May of 20 18, 525 stores had been laid out. After four months of running-in of products, processes and operating systems, it was officially opened on May 8.

Luckin Coffee has completed about 3 million orders, sold about 5 million cups of coffee, and served more than 6.5438+0.3 million users. In April of 654.38+08, Luckin Coffee APP ranked first in the free list of delicious food in Apple mobile phone stores.

2065438+After the announcement of a new round of financing in early July 2008, Luckin Coffee has invested more than 6,543.850 billion yuan, most of which is used for user subsidies.

On August 1 day, 2065438, luckin coffee announced its entry into the light food market. From August 2 to the end of the year, all stores in China will have a 50% discount on light food, and it is announced that 2,000 stores will be built nationwide before the end of the year.

Up to now, Luckin Coffee has completed the layout of 809 stores, serving more than 3.5 million users and selling more than180,000 cups. Luckin Coffee has introduced various light food products, including muffins, sandwiches and croissants.

In July 1 1, 2065438, Luckin Coffee announced the completion of the A round of financing of 200 million US dollars, with a post-investment valuation of/kloc-0 billion US dollars.

20 18 12 12, Luckin Coffee announced that it has completed a series B financing of 200 million US dollars with a valuation of 2.2 billion US dollars.

20 18, 18 On February 25th, Luckin Coffee New World Daimaru Department Store officially opened, announcing the birth of the 2000th store, which also marked that the opening plan of Little Blue Cup in 20 18 was completed one week ahead of schedule.

By 20 18, 12, 3 1, Luckin Coffee has opened 20 13 stores in 22 cities across the country, including physical stores 1897 and take-away kitchens 176. The number of end users was 6.5438+0.254 million, and 89.68 million cups were sold. The repurchase rate of users in three months is over 50%.

According to the "Securities Daily" reporter, well-known domestic office buildings and university campuses have all entered the Little Blue Cup. In addition, Luckin Coffee completed two financing projects in 20 18 1 month, among which, in July of 201year, it completed a round of financing of US$ 200 million, and in February of 20 12, it completed a round of financing of US$ 200 million.

2065438+June 2009, Luckin Coffee announced that there were 2,500 new stores nationwide, with a total of more than 4,500 stores, surpassing Starbucks in the number of stores and cups.

20 19 February, Luckin Coffee announced that it would gradually settle in Shijiazhuang, Shenyang, Guiyang, Zhuhai and other large and medium-sized cities 18 before the end of April. Together with the 22 cities opened last year, the number of cities in China will reach 40.

On April, 2065438 1 day, Lujin Coffee (China) Co., Ltd. added a piece of chattel mortgage information. The mortgagee is Zhongguancun Technology Leasing Co., Ltd., and the amount of secured creditor's rights is 45 million yuan. Ruixing's chattel collateral is coffee machine, milk box and powder bin, and the goods belong to shops in Beijing, Shanghai, Guangzhou and Shenzhen.

On April 8, 20 19, Luckin Coffee received new investment of10.50 billion US dollars, including private equity investment of10.25 billion US dollars managed by BlackRock, and Luckin Coffee was valued at 2.9 billion US dollars after investment.

2065438+On April 22, 2009, Luckin Coffee submitted a prospectus to the US Securities and Exchange Commission (SEC), intending to raise at most $ 1 billion, seeking to be listed on the Nasdaq Stock Exchange with the code LK. The company has won four rounds of * * * more than $550 million.

May 20 19 16, the IPO price was determined, and it was listed on May 17.

On July 8, 20 19, LG Coffee launched its new product "Lu Xiaocha". 20 19 in July, Lu Xiao tea industry will launch more than 10 products in four categories, and Sean Xiao will be invited as the brand spokesperson.

2019165438+1October 5th, the first batch of new private brand cashews on LK.US came from Shanxi foundry.

Related Q&A: How should Luckin Coffee develop after listing? Luckin Coffee was officially listed on NASDAQ in the United States only 65,438+08 months after its establishment. The IPO price was 17 USD, and its market value once exceeded 4.7 billion USD. People can't help but marvel that this is a miracle era! This is an era of playing with intelligence and speed. Only some 72-year-old people are still playing with sticks.

Luckin Coffee's success benefits from its super financing ability and sharp and witty advertising marketing. Confucianism says, don't be eager for quick success. However, it is natural to seek profits from business. No matter how the world questions it, facts speak louder than words, and we'll see how to decompose it in the next issue! So, how should Luckin Coffee develop next? Gaofeng provides some free suggestions here;

First, turn losses into profits and create positive cash flow.

Burn money to expand before listing, cut losses, and now get out of trouble in management. In other words, we have bought a large number of users by burning money before. How to keep them, use them well, manage them well, and let them pay happily, so as to achieve the purpose of operating hematopoiesis and forming positive cash flow.

Second, maintain the expansion speed and improve operational efficiency.

How did ofo die, remember? He died of lax fighting will and lax management, and died of decreased transportation efficiency. He who has no foresight will have immediate worries, and if he doesn't advance against the current, he will retreat, understand! If the explanation is not thorough, you will pay the price!

Third, users dig deep and optimize products.

God has many needs. Although you can't meet all of them, at least you can meet God's needs when and when to drink coffee! Or you can eat some snacks. Wait. You are a smart man, you should understand!

Say a thousand, say ten thousand. God is not easy to fool, have a heart! You!