Unable to submit its annual report, Luckin Coffee received a Nasdaq delisting notice last week, causing the share price of the Chinese coffee chain to drop by about 18%. This is the second delisting notice issued by the American Stock Exchange. The first delisting notice was that Luckin Coffee said it was investigating an executive who fabricated up to 2.2 billion yuan (311.5 million US dollars). Issued in May after 2019 sales. In the face of the second delisting notice, the company stated that the reason for failing to submit the annual report was due to the delay caused by the epidemic and waiting for the results of the internal investigation. The company will hold a special general meeting next month whether to oust several directors including chairman Lu Zhengyao from voting. source