Ruixing Coffee is still opening fast, with an average of 10 new restaurants opened every day

Ruixing Coffee is still opening fast, with an average of 10 new restaurants opened every day
On the evening of May 14th, it was reported that although suspected financial fraud was exposed, Ruixing Coffee is still opening quickly in the Chinese market.According to data released by data company Thinknum Alternative Data, as of May 12, Ruixing Coffee opened an average of 10 new stores per day in China in the second quarter, with a total of 6912 stores.It is understood that Thinknum Alternative Data mainly collects enterprise operation data through public channels.Its co-founder Justin Jen said: Ruixing Coffee is still opening stores quickly. For any catering company, opening 10 new stores every day is very fast.The earliest is that on the evening of May 12, Ruixing Coffee issued an announcement that the special committee of the board of directors drew the board’s attention to relevant evidence during the internal investigation.These evidences provide more information on the fabricated transaction issue issued by Ruixing Coffee Weapon.After considering this information, the board of directors has terminated the positions of chief executive officer and chief operating officer of Qian Zhiya and Liu Jian, and appointed directors of the company. Senior vice president Guo Jinyi is acting chief executive officer of the company.While the management exchanged blood, Ruixing Coffee stated in its internal letter that the new board of directors will restore the organization structure of the company under the leadership of the board of directors, reshape the company’s value culture, strengthen internal control to ensure legal compliance, and make every effortMaintain business stability.The internal letter also stated that with the efforts of all Ruirui people, the company will surely survive the crisis and return to normal track.On May 11th, Captial Research Global Investors (CRGI), an investment fund that has been increasing its holdings in Ruixing Coffee, liquidated all of Ruixing’s shares.It currently accounts for 0% of the 775,087,728 total outstanding shares issued by Ruixing.Democracy, CRGI holds 9 shares in the documents delivered to the SEC on February 10.2%.Sauna, Ye Wang Wang Ziyang Editor Zhu Fenglan