The China Securities Regulatory Commission condemned Luckin Coffee's financial fraud on its official website on Friday.The country's top securities regulator vowed to resolutely crack down on securities fraud and protect investors' interests, according to the announcement.Listed companies should strictly obey the laws and regulations to disclose information in a true, accurate and complete manner.No matter where the company was listed, CSRC would investigate and crack down on fraudulent securities behaviors based on the law and international securities supervision cooperation arrangements, CSRC said. Luckin Coffee announced on Thursday that it had about 2.2 billion yuan (0 million) in fabricated transactions.The aggregated sales amount associated with the fabricated transactions was from the second quarter to the fourth quarter of 2019, according to an internal investigation.The figure has not been independently verified and is subject to change as the internal investigation proceeds.Certain costs and expenses were also substantially inflated by fabricated transactions during this period, the announcement said.The shares of Luckin collapsed as much as 81 percent on Thursday, the most within one day since its IPO on the Nasdaq Stock Market last May.The US-listed company Luckin Coffee, issuing securities via overseas regulators, registered in the Cayman Islands in June 2017.
The Chinese embassy in Thailand immediately asked local authorities to take care of the remains and the two injured Chinese tourists, according to a report on China Central Television. The National Tourism Administration also ordered its Bangkok office to visit He's family and the injured tourists, while calling on travel agencies to further instruct tourists about behaving with good manners.
The Chinese government has said the area welcomes foreign investment that meets its functional requirements. Experts believe that capital and expertise from foreign investors are needed in Xiongan to meet its goal of becoming a low-carbon, intelligent, livable and globally influential city where people and nature co-exist in harmony.
The Chinese government's investment in roads, water projects, logistics, and internet facilities in rural areas has enabled the rise of e-commerce entrepreneurs seizing new opportunities throughout the country. Many former migrants who once worked in factories or as deliverymen in cities in eastern China are now returning to their hometowns and establishing businesses.
The China Branch of the BRICS Institute of Future Networks is designed to deepen cooperation among Brazil, Russia, India, China and South Africa to boost the development of key technologies including 5G, artificial intelligence and information security.
The Chinese government is pouring subsidies into the domestic market for new energy vehicles and Chinese companies are snapping up foreign battery and electric vehicle makers like GLM in order to beef up their technology.
南宁搜索引擎优化排名
The China Securities Regulatory Commission (CSRC), the regulator, has also said that it is top priority for the time being to establish the science and technology innovation board and to introduce the pilot registration-based initial public offerings (IPO) system.
The Chinese joint venture with BAIC Motor Corp did not verify the snapshot's authenticity by publication time, but a Hyundai spokesman in Seoul told Bloomberg on Wednesday that the delayed payments were because of poor sales in China, its largest market.
The China market is expected to grow almost 70 percent year-on-year to 10.07 billion yuan in sales this year. Some 2 million smart speakers will likely be shipped in China this year, a fraction of the 14 million in the US; and 22 million will be sold in China in 2022, according to Counterpoint Research estimates.
The Chinese government attaches great importance to the development of soccer and has given strong and sustained support, he said.