Ruixing coffee suspension

Beijing News (reporter Wang Ziyang) on April 7, Ruixing coffee was suspended before the U.S. stock market. Waiting for more information to be disclosed, Ruixing coffee rose 4.56% before the market, while Ruixing coffee fell about 83% in the past three trading days. At present, its share price is $4.39/share, with a total market value of about $1.105 billion.
It is worth noting that Ruixing coffee has invested in the liability insurance before going public in the United States. There are many domestic insurance companies participating in the insurance in the form of CO insurance body. There are four layers of “coinsurance body” composed of Ruixing coffee’s liability insurance policy, with a total insured amount of US $25 million. The “underlying coinsurance body” is composed of 8 Chinese companies with an insured amount of US $10 million. It is reported that Ruixing coffee has started to apply for compensation.
In addition, Goldman Sachs reported that Haode, controlled by Ruixing coffee shareholder Lu Zhengyao Due to the breach of contract by investment company, the lender is entrusting Credit Suisse Singapore branch to take enforcement measures. The loan scale is 518 million US dollars, or involves 76.4 million shares of Ruixing coffee American Depository stock (ads), including the additional Pledged Shares of entities controlled by Qian Zhiya’s family trust, CEO of Ruixing coffee.
According to the latest news, Thornton law firm LLP has indicated that investors who purchase Ruixing coffee shares or other securities between April 1, 2016 and April 2, 2020 can visit the website of the law firm for more information or contact them directly if they are interested. The company has been sued on behalf of the shareholders of Ruixing coffee.