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Luckin's not Lucky...
Breaking today, Lukin's COO (Jian Liu) said to have fabricated sales in a massive overstatement of 2019 revs.
But by how much?
Previously stated sales in 2019 were 2.9 billion yuan ($413 million).
Overstated 2019 sales by about 2.2 billion yuan ($310 million).
So essentially... -75.86 % of their revenue was overstated!
Incredibly surprising... but this goes to show how easy it is to obfuscate information and not have someone follow up with fundamental research. Worrisome for the region as well.
But by how much?
Previously stated sales in 2019 were 2.9 billion yuan ($413 million).
Overstated 2019 sales by about 2.2 billion yuan ($310 million).
So essentially... -75.86 % of their revenue was overstated!
Incredibly surprising... but this goes to show how easy it is to obfuscate information and not have someone follow up with fundamental research. Worrisome for the region as well.
Pierce Crosby
GM, Americas @ TradingView
GM, Americas @ TradingView
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Pierce Crosby
GM, Americas @ TradingView
GM, Americas @ TradingView
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。