瑞幸咖啡美国漂流记：拒收现金引争议、五年三换审计师

Core Viewpoint - Luckin Coffee's expansion into the U.S. market has been marred by compliance issues, highlighting the challenges faced by Chinese companies in adapting to foreign regulations and the importance of maintaining a trustworthy compliance framework [5][10][25]. Group 1: Company Overview - Luckin Coffee achieved a "lightning listing" on NASDAQ in just 18 months, but took over six years to establish a presence in the U.S. market [7]. - The company opened two stores in Manhattan on June 30, strategically located near New York University and the Empire State Building, both within a hundred meters of Starbucks locations [7]. Group 2: Pricing Strategy - The introduction of promotional pricing, such as $0.99 for new customer coupons and $1.99 for discounted drinks, generated significant consumer interest and social media buzz [8]. Group 3: Compliance Issues - Luckin's refusal to accept cash payments at its New York locations violated New York City's "no cash" law, which aims to protect low-income and vulnerable populations [10][13]. - The company's operational model, which worked in China, faced significant challenges in the U.S. due to regulatory differences [10]. Group 4: Audit and Compliance Challenges - Luckin Coffee's compliance issues stem from a history of financial fraud, which led to its exit from the NASDAQ main board and ongoing scrutiny from U.S. regulators [16][25]. - The company has changed auditors three times in five years, indicating instability and ongoing compliance challenges [18][24]. - Recent penalties against its auditors, such as the permanent revocation of registration for Marcum Bernstein & Pinchuk LLP, reflect the stringent compliance expectations in the U.S. [19][20]. Group 5: Financial Performance - Despite impressive revenue growth from 2021 to 2024, with increases of 97.5%, 66.9%, 87.3%, and 38.4% respectively, the U.S. capital market prioritizes compliance and trustworthiness over mere financial performance [25].