Chinese corporates have a long history of going public in overseas exchanges for capital financing. Ever since the
numerous Chinese companies decided to raise capital via stock exchanges in the United States, the United Kingd
in the world. However, Chinese corporates have a notorious history of being accused of fraud or book-cooking by
recently, the “Chinese Starbucks” Luckin Coffee was targeted by famous short seller Muddy Water Research. Mu
89 pages report “Luckin Coffee: Fraud + Fundamentally Broken Business”. Followed by the report, Luckin Coffee’
by formal investigation by both American and Chinese authorities. This paper intends to dive into the history of the
companies with a specific focus on Luckin Coffees’ up and downs.