Lu Zhengyao, chairman and CEO of Ucar, chairman of the Board of Director of CAR Inc. and chairman of Luckin Coffee
"We settled down in Xiamen ten months ago, so I am a new representative", said Lu Zhengyao, chairman and CEO of Ucar, chairman of the Board of Director of CAR Inc. and chairman of Luckin Coffee. He is a native of Ningde. But he is not familiar with Xiamen because he has been living in North China for a long time. "Two years ago, I didn't expect that I would pass the remaining part of my life in Xiamen".
According to Lu, he was considering establishing a technical center and the second headquarters in another city in 2017; he started contacts with Xiamen in early 2018 and reached an agreement very quickly; the national headquarters of Luckin Coffee and the operating headquarters of Ucar settled down in Xiamen in June 2018. So far, the Ucar and Luckin systems have registered more than 20 operating entities with a registered capital of about 16 billion Yuan, a paid-in capital of about 6.5 billion Yuan and a workforce of 1,200+ employees, and presumably 2,500 employees at the end of the year.
Why did he choose Xiamen? "The first reason is the good environment here", said Lu who was a jogging lover, "it is a pity if you don't jog when you are in Xiamen". He also lauded the high quality of Xiamen's public servants, "we have businesses in 200+ cities nationwide and we are deeply impressed by the quality and strong sense of responsibility of Xiamen's governmental officials". Meanwhile, the Xiamen government is very efficient and offers very good supportive policies, including taxation, household and other preferential policies. "We are deeply impressed by the advantages of Xiamen's business environment which helps to significantly reduce our general operating costs. Our employees work happily here which contributes to the stability of our workforce in favor of our long-term development".
"Xiamen is also our place of luck", said Lu. Luckin Coffee has launched its IPO process. The preparation for IPO lasted for 1+ years, two years earlier than expected.
He said, "Xiamen is the great supporter of our development". He said they will firmly take Xiamen as the center and lay the upstream and downstream of the industrial chain in the future, e.g. BORDWARD, coffee and bakery base, etc. He will also become a "promoter" of investment in Xiamen and actively recommend Xiamen to his friends in the business circle so as to attract enterprises to settle down in Xiamen.
