Luckin Coffee could be returning to the Nasdaq five years after the company was delisted due to financial fraud. Jinyi Guo, the CEO of the mobile-only Chinese coffee chain, said at a recent government event in Xiamen that the company is preparing to relist on the U.S. stock market and expand its footprint in America as well.
Chinese media reports that Guo said once the company is relisted on the Nasdaq, it will help Luckin become a more global hub for development and business.
“The company remains committed to the U.S. capital markets, but there is currently no definitive timeline for relisting on a major exchange,” Luckin Coffee said in a statement sent to media. “Our top priority at this time is to focus on strategic execution, deepen operational development, and continue to enhance brand influence and market competitiveness.”
In May 2020, one year after making its Wall Street debut, Luckin Coffee received a Nasdaq stock market delisting notice following their announcement of an investigation into fraud allegations. According to the investigation, multiple executives fabricated financials and failed to disclose certain fiscal information. As a result, the company’s CEO Jenny Zhiya Qian and COO Jian Liu were terminated. Luckin initially fought the delisting notice, but eventually dropped its appeal, and the company was taken off the Nasdaq ticker in June 2020.
Currently, the coffee brand — which overtook Starbucks as the top coffee chain in China two years ago — has five stores in the U.S., all located in New York City. Guo has said that more U.S. locations, with menus tailored to American consumers, are on the way in 2026.
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