Lu Zhengyao
Lu Zhengyao | |
|---|---|
| Born | Template:Birth year and age China |
| Other names | Charles Lu |
| Occupation(s) | Entrepreneur, investor |
| Known for | Non-executive chairman of Luckin Coffee |
Lu Zhengyao (陸正耀), who is also referred to as Charles Lu (born 1969/1970), is a prominent Chinese entrepreneur and investor. He currently holds the position of non-executive chairman at Luckin Coffee, one of China's leading coffee chains. Lu earned a Bachelor of Science degree in industrial electric automation from the University of Science and Technology Beijing in 1991 and completed an Executive MBA program at Peking University in 2010.
As an initial backer of Luckin Coffee, Lu encountered financial difficulties in April 2020 when Goldman Sachs, an investment bank, liquidated his shares in the company following his failure to meet obligations on a corporate margin loan. Later that year, in December 2020, he agreed to pay a $180 million penalty to the US Securities and Exchange Commission due to charges related to investor fraud.
In addition to his involvement with Luckin Coffee, Lu holds close to a one-third stake in Car Inc., a vehicle rental enterprise listed on the Hong Kong stock exchange. Furthermore, in May 2021, he revealed intentions to establish Xiaomian Riji ('noodle diary'), aiming to build a network of 500 noodle restaurants.