Luckin Coffee Inc. Announces Change to Board of Directors
Rhea-AI Summary
Luckin Coffee (OTC: LKNCY) announced Board changes effective May 2026. Director Feng Liu chose not to stand for re-appointment for personal reasons and will serve as an external strategic advisor. Other expiring directors were re-appointed for two years, keeping the Board at nine members with updated committee compositions.
Positive
- Six directors with expiring terms re-appointed for another two-year period
- Former director Feng Liu to remain as external strategic advisor
- Board size maintained at nine directors with defined committee roles
Negative
- Director Feng Liu chose not to stand for re-appointment to the Board
News Market Reaction – LKNCY
In the May 20 session, LKNCY gained 3.49%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BEIJING, May 20, 2026 (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (OTC: LKNCY) today announced a change to the Board of Directors (the “Board”). The Board previously resolved that each of the Company’s directors shall have a two-year term of office and may be re-appointed by the Board upon the term expiration. The terms of Jinyi Guo, Wenbao Cao, Weihao (Michael) Chen, Jun Liu, Feng Liu, Qianli Liu and Sean Shao expired in May 2026. Mr. Feng Liu informed the Board that he chose not to stand for re-appointment as a director of the Company due to personal reasons but has agreed to continue providing guidance and expertise as an external strategic advisor to the Company. The rest of the foregoing persons have been re-appointed as directors by the Board for a successive two-year period.
“I am grateful to Mr. Feng Liu for his significant contributions during his term of office. His knowledge and advice have been invaluable in propelling our goals and strategies for long-term achievements. On behalf of the Board, I extend best wishes to Mr. Liu and look forward to further collaborating with him in the future,” said Mr. Hui Li, Chairman of the Board of Luckin Coffee.
With these changes, the Board currently consists of nine directors: Hui Li, Jinyi Guo, Wenbao Cao, Guiyi Chen, Weihao (Michael) Chen, Jun Liu, Joel A. Getz, Qianli Liu and Sean Shao. The Audit Committee of the Board consists of Qianli Liu and Sean Shao, with Sean Shao serving as the Chairperson. The Compensation Committee of the Board consists of Jinyi Guo, Guiyi Chen, Weihao (Michael) Chen and Sean Shao, with Sean Shao serving as the Chairperson. The Nominating and Corporate Governance Committee consists of Jinyi Guo, Weihao (Michael) Chen, Jun Liu and Qianli Liu, with Weihao (Michael) Chen serving as the Chairperson.
SAFE HARBOR STATEMENTS
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Luckin Coffee may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Luckin Coffee’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the expense, timing and outcome of existing or future legal and governmental proceedings or investigations in connection with Luckin Coffee; the outcome and effect of the restructuring of Luckin Coffee’s financial obligations; Luckin Coffee’s growth strategies; its future business development, results of operations and financial condition; the effect of the non-reliance identified in, and the resultant restatement of, certain of Luckin Coffee’s previously issued financial results; the effectiveness of its internal control; its ability to retain and attract its customers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with its suppliers and business partners; trends and competition in China’s coffee industry or China’s food and beverage sector in general; changes in its revenues and certain cost or expense items; the expected growth of China’s coffee industry or China’s food and beverage sector in general; Chinese governmental policies and regulations relating to Luckin Coffee’s industry; and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in Luckin Coffee’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Luckin Coffee undertakes no obligation to update any forward-looking statement, except as required under applicable law.
ABOUT LUCKIN COFFEE INC.
Luckin Coffee Inc. (OTC: LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high convenience and high affordability to customers. Empowered by proprietary technologies, Luckin Coffee pursues its mission to build a world-class coffee brand and become a part of everyone’s daily life. Luckin Coffee was founded in 2017 and is based in China. For more information, please visit investor.lkcoffee.com.
INVESTOR AND MEDIA CONTACTS
Investor Relations:
Luckin Coffee Inc. IR
Email: ir@lkcoffee.com
Bill Zima
ICR, Inc.
Phone: 646 880 9039
Media Relations:
Luckin Coffee Inc. PR
Email: pr@lkcoffee.com
