The company plans to appeal to a Nasdaq hearings panel and will remain on the US bourse pending a ruling, Luckin Coffee added.
The company plans to establish more factories with annual production capacity of 60 gigawatt hours in the next 10 years with the financial support of Evergrande, which already owns production plants in Shanghai, Jiangxi and Jiangsu provinces and the Guangxi Zhuang autonomous region.
The company now has 63 local and 10 Chinese employees on job rotation.
The company noted the peak of train transport is expected to be registered on Oct 1 -- the first day of the National Day holiday, with 13 million passenger trips. The figure will hit a record high for daily railway passenger trips after the outbreak.
The company is leveraging its technology strengths to process coal gangue, the left solid waste in the process of coal mining. After processing, coal gangue can be turned into ultra-fine kaolinite, which can be used to make plastics, rubber, painting materials, pesticides, and many other products.
The company plans to list on the Nasdaq under the ticker symbol "QK," with an expectation to raise up to 0 million, according to its prospectus filed with the US Securities and Exchange Commission.
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The company raked in 20.7 billion yuan in the first three months of this year, with a net profit of 1.2 billion yuan, according to its Q1 financial report released on the same day.
The company requires all rail transport companies to strictly standardize charges and avoid unlawful or extra fees.
The company's growth is caused by blossoming sport utility vehicle sales, not new energy models.
The company plans to adopt more innovative customer-oriented and competition-oriented business models, and will focus on core products for 20 major country markets, which accounted for nearly 70 percent of its overseas sales in 2018, and two thirds of its global market revenues.