China News Service, July 31. According to the website of the Ministry of Finance, inspections found that from April 2019 to the end of 2019, Ruixing Coffee Company increased the transaction volume by 2.246 billion yuan (RMB, the same below) through the fictitious commodity certificate business. Increased revenue of 2.119 billion yuan (accounting for 41.16% of the 5.15 billion yuan disclosed to the outside world), inflated costs and expenses of 1.211 billion yuan, and inflated profits of 908 million yuan.
Data map: Ruixing Coffee Beijing Baoneng Building Store. Photo by China News Agency reporter Hou Yu
According to the "Accounting Law of the People's Republic of China", the Ministry of Finance has organized its forces to deal with Luckin Coffee Inc. (Luckin Coffee Inc.), the two main operating entities in the territory, Luckin Coffee (China) Co., Ltd. and Luckin Coffee ( Since the establishment of Beijing) Co., Ltd., the quality of accounting information has been inspected, and 23 affiliated companies and financial institutions have been inspected. So far, the inspection is basically complete.
In the next step, the Ministry of Finance will impose administrative penalties on the financial fraud of Ruixing Coffee's main operating entities in accordance with the law, and promptly disclose the punishment results to the public.