Ruixing (LK.US) incident investigation report exposed, investors Liu Erhai and Li Hui did not know

Zhitong Finance APP learned that according to media reports, part of the investigation report of the Special Investigation Committee on the Luckin (LK.US) incident has been exposed.
The investigation results showed that the investors and company directors Liu Erhai and Li Hui were unaware of the fraud, and none of the current board members participated in the fraud.
It is reported that the final investigation report was completed on July 1 by the special committee with the assistance of consultants Kirkland&Ellis and FTI Consulting. The report consists of 97 pages, divided into 4 parts, and records in detail the entire investigation process and various internal data.
The results of the investigation showed that there was no evidence that Cao Wenbao was aware of fraud. There was no evidence that CFO Reinout Schakel was aware of or had any involvement in false transactions. There was no evidence that Guo Jinyi, Wu Gang, Shao Xiaoheng, Li Hui, and Liu Erhai were aware of or had any involvement in false transactions. participate.
The investigation document confirmed the authenticity of previous media reports.
According to media reports, Luckin Coffee’s real revenue in 2019 is approximately 3.2 billion yuan.
The previous survey results released by Luckin showed that Luckin’s inflated transactions began in April 2019. Net income in 2019 was overstated by approximately 2.12 billion yuan, and costs and expenses were overstated by 1.34 billion yuan.
Former Luckin Coffee CEO Qian Zhiya, former COO Liu Jian and several employees who reported to him participated in the fraud. The inflated transaction amount came from connected transactions with third-party companies and employees of Luckin Coffee.
This investigation report did not involve anything about Ruixing’s former chairman Lu Zhengyao.