China's Luckin Coffee (LK) had hopes of being as successful with American investors as its rival Starbucks. But following an accounting scandal, Luckin is now heading to Wall Street's graveyard.

中国的瑞幸咖啡在美国投资者面前本来有希望像竞争对手星巴克一样成功，但受会计丑闻影响，瑞幸现在要在华尔街退市。

Luckin announced Friday that it was giving up plans to appeal the Nasdaq exchange's decision to delist the stock. Shares of Luckin, which fired its CEO and chief operating officer in May after it was discovered that the company fraudulently inflated sales, plunged more than 50% to about $1.40.

周五，瑞幸宣布要退市，放弃对纳斯达克交易所的决定提出上诉的计划。瑞幸被发现虚增销售额，在五月份解雇了首席执行官和首席运营官，该公司的股票暴跌逾50%，跌至约1.40美元。

The company initially said last month that it was requesting a hearing with Nasdaq but it said in a press release Friday that shares will now be suspended from trading at the start of Monday June 29.

该公司最初在上个月说正在要求在纳斯达克召开听证会，但又在周五的新闻稿中说股票将于6月29日星期一开始停牌。

Luckin, founded in 2017, went public last year and surged due to what -- at the time -- appeared to be strong sales growth.

瑞幸成立于2017年，去年上市，由于当时销售额的强劲增长而市值飙升。

Investors lapped up the stock, betting that Luckin would become a legitimate homegrown rival to Starbucks (SBUX), which generates a big chunk of its revenue from Chinese consumers.

投资者将股票抢购一空，而且预计瑞幸将成为星巴克合法的本土竞争对手，星巴克一大部分收入来自中国的消费者。

It's not clear what's next for Luckin now that it will no longer have access to the stock market to raise new capital. As of late last year the company had 3,680 stores. However, bankruptcy rumors have been swirling in light of the scandal.

瑞幸不能再从股票市场获得新的资本，尚不清楚它下一步有什么计划。截止去年年末，该公司共开了3,680家店。但是因为丑闻，关于该公司破产的传闻不断。