Luckin Coffee announces change to board of directors

Luckin Coffee announced a change to the Board of Directors. The Board previously resolved that each of the Company’s directors shall have a two-year term of office and may be re-appointed by the Board upon the term expiration. The terms of Jinyi Guo, Wenbao Cao, Feng Liu, Yang Cha, Sean Shao, Weihao Chen, Shaoqiang Liu, Jun Liu and Qianli Liu expired in May 2024. Mr. Yang Cha informed the Board of his choice not to stand for re-appointment as a director of the Company due to personal reasons but has agreed to continue providing guidance and expertise as an external strategic advisor to the Company. The rest of the foregoing persons have been re-appointed as directors by the Board for a successive two-year period. With these changes, the Board currently consists of nine directors: Jinyi Guo, Wenbao Cao, Feng Liu, Sean Shao, Weihao Chen, Shaoqiang Liu, Jun Liu, Qianli Liu and Joel A. Getz. The Audit Committee of the Board consists of Feng Liu, Qianli Liu and Sean Shao, with Feng Liu serving as the Chairperson. The Compensation Committee of the Board consists of Weihao Chen, Jinyi Guo, Feng Liu, Shaoqiang Liu and Sean Shao, with Sean Shao serving as the Chairperson. The Nominating and Corporate Governance Committee consists of Weihao (Michael) Chen, Jinyi Guo, Jun Liu and Qianli Liu, with Weihao Chen serving as the Chairperson.