Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Luckin Coffee, a Chinese coffee company and coffeehouse chain that was founded in Beijing in 2017, was delisted from NASDAQ in June 2020 and filed for Chapter 15 bankruptcy in the U.S. in February 2021. The company has fallen due to many scandals related to its finance and sales revenue.
While Luckin Coffee was initially very successful when it was launched, its sudden drop was believed to have resulted from mismanagement and bad handlers, and in fact, several executives were fired after its stock price came crashing down fast in late 2019.
It was reported that Luckin Coffee has been revived and has returned to business after the difficulties it faced in the previous years. Its comeback was reportedly very successful, and it is now said to be bigger than Starbucks in China, as per CNN Business.
On Tuesday, the Chinese coffee chain posted its first-quarter earnings, and the results were very positive, showing an increase of nearly 90% in revenue. This is said to be the company’s first-ever profit, and this was achieved despite the lockdowns in the country.
Luckin Coffee also boasts of ending the period with a total of 6,580 store outlets across mainland China. This number has surpassed the American coffee chain’s (Starbucks) 5,650 outlets in the region.
With its massive achievement, the company has now labeled itself as the largest coffee house chain in China. Most of the Luckin Coffee stores are operated by partners, and the company is directly running several locations as well. As for Starbucks, all of its stores are entirely company-owned.
“Our team continues to execute on our strategic plan, delivering another quarter of improved financial and operational results,” Dr. Jinyi Guo, chairman, co-founder, and chief executive officer of Luckin Coffee, said in a press release for its first-quarter financial results.
He continued to explain how they were able to get back to the top after being kicked out from the Wall Street listing. Guo said, “While we expect pandemic-related market pressures to continue having an adverse impact on our business in the near term, our board of directors and management team are confident in our ability to both meet and drive demand through continued investment in our core initiatives.”
