Breaking today, Lukin's COO (Jian Liu) said to have fabricated sales in a massive overstatement of 2019 revs.
But by how much?
Previously stated sales in 2019 were 2.9 billion yuan ($413 million).
Overstated 2019 sales by about 2.2 billion yuan ($310 million).
So essentially... -75.86 % of their revenue was overstated!
Incredibly surprising... but this goes...