NASDAQ asked Ruixing to delist. Lu Zhengyao: deeply disappointed

category:Internet
 NASDAQ asked Ruixing to delist. Lu Zhengyao: deeply disappointed


According to the information on the website of NASDAQ listing center, a listed company must make a request for holding a hearing within 7 natural days after receiving the delisting notice. The company can choose to hold a hearing in oral or written form, and the cost of the hearing is US $10000. At the hearing, the enterprise has about 50 minutes to make a statement. The hearing committee usually publishes a written decision within 30 days after the hearing. Before that, the above-mentioned companies can continue to be listed.

Lu Zhengyao said in the statement, in the past 20 years since I started my business, I have successively participated in the establishment of Shenzhou car rental, Shenzhou special car and Ruixing coffee, which are well-known brands in various fields. Through model innovation and technology application, they provide users with real products and services and solve the employment of tens of thousands of employees. He firmly believes that the business model and business logic of Ruixing coffee are established, and the annual revenue of Ruixing coffee has continued to grow since its operation.

He said that at present, despite the double blow of the epidemic and fraud, thousands of Ruixing stores are still trying to adhere to the operation, tens of thousands of employees are still working diligently, and Ruixings products have a good reputation and brand toughness. I sincerely ask all sectors of society to give tolerance and support, and I thank you all here!

Lu Zhengyao also expressed that my style may be too radical and the enterprise runs too fast, which also leads to many problems, but I do not cheat investors by concept. The funds obtained from pledge of Ruixing coffee shares are all used to support the operation and development of its enterprises, not for personal squandering, not to transfer assets, which is willing to accept any investigation. He mentioned that if Ruixing leaves the market, the difficulties and pressure will continue to increase, but in any case, Ruixing will try its best to maintain the store operation, try its best to recover the loss of shareholders, so that Ruixing brand can go on.

Yang Zhaoquan, a lawyer at Beijing wino law firm who acted as the agent of domestic investors in suing Ruixing coffee, told Netease technology that Nasdaq exchange sent a delisting notice to Ruixing coffee, indicating that Ruixing coffee has been on the brink of delisting cliff.

According to the exchange rules, Ruixing coffee has the right to conduct a hearing and defense. But Zhao Quanyang thinks that the probability of Ruixing coffee avoiding delisting is very small. The event of Ruixing coffee counterfeiting is particularly serious in the eyes of the exchange. First of all, the counterfeiting lasts for a long time, from the second quarter to the fourth quarter. Second, the amount of fraud is large. The amount of counterfeiting accounts for a large proportion of the turnover. Third, it is still denied after being exposed. After muddy water disclosed the investigation report of Ruixing coffee fraud, the company publicly denied it. Based on the above situation, there is little chance for Ruixing coffee to overturn the offer through the hearing.

Personal statement

2u3002 According to the public disclosure of Ruixing coffee, at present, the company has also dealt with relevant responsible persons, reorganized the board of directors, updated the management and actively carried out rectification according to the phased investigation results. However, NASDAQ asked the company to delist before the final investigation results, which is unexpected. I am deeply disappointed and regretted.

3u3002 In the past 20 years since I started my business, I have successively participated in the establishment of Shenzhou car rental, Shenzhou special car and Ruixing coffee, all of which are well-known brands in various fields. Through model innovation and technology application, I have provided real products and services for the majority of users, and also solved the employment of tens of thousands of employees. I have always been in the front line of industry. My style may be too radical and the enterprise runs too fast, which also leads to many problems. But I do not cheat investors with the concept. I really want to make the enterprise bigger and better and create value for the society! Whenever I see people holding small blue cups in their hands, I feel proud.

4u3002 I firmly believe that Ruixing coffees business model and business logic are established. Since its operation, Ruixing coffees annual revenue has continued to grow. At present, despite the double blow of the epidemic and fraud, thousands of Ruixing stores are still trying to adhere to the operation, tens of thousands of employees are still working diligently, Ruixings product reputation is very good and brand toughness, sincerely ask all sectors of society to give tolerance and support, I thank you here! 5u3002 Since I started my business, almost all of the money I earned has been invested in the real enterprises. The money I got from pledging Ruixing coffee stock has also been used to support the operation and development of its various enterprises. It has not been used for personal extravagance, nor for the transfer of assets. I am willing to accept any investigation on this. 6u3002 Over the past month, I have been in deep pain and remorse, unable to sleep at night. If the company delisted, the difficulties and pressure will continue to increase, but no matter what, I will try my best to maintain the store operation, try my best to recover the loss of shareholders, so that the brand of Ruixing can go on. Finally, once again sincerely apologize to all sectors of the society for the adverse impact of the incident! Lu Zhengyao extended reading NASDAQ: resume trading of Ruixing coffee at 7:00 p.m. on Wednesday Ruixing coffee: received delisting notice on May 15, and continued to be listed before the hearing results Ruixing coffee has received delisting notice companys response: no comment this article source: responsible editor of Netease technology report: Wang Fengzhi_ NT2541

4u3002 I firmly believe that Ruixing coffees business model and business logic are established. Since its operation, Ruixing coffees annual revenue has continued to grow. At present, despite the double blow of the epidemic and fraud, thousands of Ruixing stores are still trying to adhere to the operation, tens of thousands of employees are still working diligently, Ruixings product reputation is very good and brand toughness, sincerely ask all sectors of society to give tolerance and support, I thank you here!

5u3002 Since I started my business, almost all of the money I earned has been invested in the real enterprises. The money I got from pledging Ruixing coffee stock has also been used to support the operation and development of its various enterprises. It has not been used for personal extravagance, nor for the transfer of assets. I am willing to accept any investigation on this.

Finally, once again sincerely apologize to all sectors of the society for the adverse impact of the incident!

Lu Zhengyao