Failed to submit annual report! Lucky coffee received NASDAQ delisting notice
On the evening of May 19, lucky coffee announced that the company received the delisting notice from the Nasdaq Stock Exchange on May 15. The company plans to hold a hearing on this issue and will continue to list on NASDAQ before the hearing results are released.
All of this stems from the fact that on April 2, 2020, lucky coffee admitted that there were forged transactions between the second quarter and the fourth quarter of 2019, involving an announcement with sales of 2.2 billion yuan. On April 7, the companys shares were suspended.
On the evening of April 29, the documents submitted by lucky coffee to the SEC showed that due to financial problems and epidemic situation, the company could not submit its annual report before April 30.