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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Mobile Limited    941   HK0941009539

CHINA MOBILE LIMITED

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Luckin Coffee chairman ousted by shareholders: Bloomberg, citing report

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07/05/2020 | 11:48am EDT
Charles Zhengyao Lu, non-executive chairman of Luckin Coffee, speaks during the company's IPO at the Nasdaq Market site in New York

Luckin Coffee Inc Chairman Charles Zhengyao Lu has been ousted by shareholders from the embattled coffee chain, just days after a proposal to remove him failed to get board approval, Bloomberg News reported on Sunday, citing Chinese web portal 163.com.

Three other board directors including Sean Shao were also removed at an extraordinary shareholders meeting in Beijing on Sunday, the report https://bloom.bg/38slTRo said.

Ying Zeng and Jie Yang will be added as independent board directors, the report added.

Luckin Coffee declined to comment.

Luckin stated just days ago that a proposal to remove Lu as chairman of the embattled coffee chain's board did not get the number of necessary votes from directors to pass.

The China-based coffee chain had earlier in the week wound up an internal probe into fake annual sales of about $300 million, following which several of Luckin's directors proposed the ousting of Lu.

Lu, who is the controlling shareholder of Luckin, is also the founder of auto-rental firm CAR Inc and Chinese ride-hailing firm Ucar Inc.

During the investigation, Luckin sacked its chief executive and chief operating officers, who had previously held top positions at Lu's other firms.

(Reporting by Rebekah Mathew in Bengaluru; Editing by Tom Brown)

Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED -2.67% 56.4 End-of-day quote.-13.89%
CHINA TELECOM CORPORATION LIMITED -2.48% 2.36 End-of-day quote.-26.48%
GAONA AERO MATERIAL CO., LTD. 5.45% 19.36 End-of-day quote.21.23%
LUCKIN COFFEE INC. 9.80% 3.24 Delayed Quote.-92.48%
UCAR 0.00% 9.95 Real-time Quote.-34.11%
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Financials
Sales 2020 760 B 108 B 108 B
Net income 2020 109 B 15 489 M 15 489 M
Net cash 2020 337 B 48 036 M 48 036 M
P/E ratio 2020 10,6x
Yield 2020 5,29%
Capitalization 1 155 B 149 B 165 B
EV / Sales 2019
EV / Sales 2020 1,08x
Nbr of Employees 459 152
Free-Float 27,3%
Chart CHINA MOBILE LIMITED
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Technical analysis trends CHINA MOBILE LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Average target price 66,52 CNY
Last Close Price 56,40 CNY
Spread / Highest target 48,8%
Spread / Average Target 17,9%
Spread / Lowest Target -17,2%
EPS Revisions
Managers
NameTitle
Jie Yang Chairman
Xin Dong Chief Financial Officer, Executive Director & VP
Mo Chi Cheng Independent Non-Executive Director
Man Yiu Chow Independent Non-Executive Director
Kin Wah Yiu Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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