Luckin Coffee Announces Appointments of Two Independent Directors
March 27 2020 - 4:15PM
Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (NASDAQ: LK),
a pioneer of a technology-driven new retail model to provide coffee
and other products of high quality, high affordability, and high
convenience to customers, today announced appointments of two
independent directors to the Company’s Board of Directors (the
“Board”). The Board welcomes the appointment of Mr. Tianruo Pu and
Mr. Wai Yuen Chong as independent directors to the Board and
members of its Audit Committee, effective March 27, 2020. As the
Securities Exchange Act of 1934 requires that the Audit Committee
shall consist of only independent directors after one year from the
date of effectiveness of the registration statement for Company’s
IPO, Mr. Erhai Liu has stepped down as a member of the Audit
Committee and the current Audit Committee consists of Mr. Sean
Shao, Mr. Thomas P. Meier, Mr. Tianruo Pu and Mr. Wai Yuen Chong,
with Mr. Sean Shao serving as its chairman.
Mr. Tianruo Pu has more than 20 years of work experience in
finance and accounting. He currently serves as an independent
director and audit committee’s chairman/member in various listed
companies, including OneConnect Financial Technology Co., Ltd.,
Autohome Inc., Renren Inc., Kaixin Auto Holdings and 3SBio Inc. Mr.
Pu served as the chief financial officer of Zhaopin Ltd from 2016
to 2018 and UTStarcom from 2012 to 2014.
Mr. Wai Yuen Chong has more than 30 years’ management experience
in areas including supply chain, logistics, IT and manufacturing
operation. He currently serves several roles in Charoen Pokphand
Group, including the chief executive officer of Bake House
(Shanghai) Catering Management Co. Ltd. and CP Mart Club (Suzhou)
Co. Ltd., the subsidiaries of Charoen Pokphand Group. Before
joining Charoen Pokphand Group, Mr. Chong worked at Starbucks
China/Asia Pacific and Yum! Brands China as a senior executive.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements are made under the
“safe harbor” provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “potential,”
“continue,” “ongoing,” “targets,” “guidance” and similar
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the “SEC”), in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Any statements that are not historical
facts, including statements about the Company’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company’s growth strategies; its
future business development, results of operations and financial
condition; its ability to understand buyer needs and provide
products and services to attract and retain buyers; its ability to
maintain and enhance the recognition and reputation of its brand;
its ability to rely on merchants and third-party logistics service
providers to provide delivery services to buyers; its ability to
maintain and improve quality control policies and measures; its
ability to establish and maintain relationships with merchants;
trends and competition in China’s e-commerce market; changes in its
revenues and certain cost or expense items; the expected growth of
China’s e-commerce market; PRC governmental policies and
regulations relating to the Company’s industry, and general
economic and business conditions globally and in China and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks, uncertainties or
factors is included in the Company’s filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
About Luckin Coffee Inc.
Luckin Coffee Inc. (NASDAQ: LK) has pioneered a
technology-driven retail network to provide coffee and other
products of high quality, high affordability, and high convenience
to customers. Empowered by big data analytics, AI, and proprietary
technologies, the Company pursues its mission to be part of
everyone’s everyday life, starting with coffee. The Company was
founded in 2017 and is based in China. For more information,
please visit investor.luckincoffee.com.
Investor and Media Contacts
Investor Relations:Luckin Coffee Inc. IREmail:
ir@luckincoffee.com
Bill Zima / Fitzhugh TaylorICR, Inc.Phone: 646 880 9039
Media Relations:Luckin Coffee Inc. PREmail:
pr@luckincoffee.com
Ed Trissel / Scott Bisang / Jack
KelleherJoele Frank, Wilkinson Brimmer KatcherPhone: 212 355
4449
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