Bear the legal responsibility of "long arm jurisdiction". According to Article 2 of the Securities Law of People's Republic of China (PRC), which came into effect on March 1 2020, "Anyone who engages in securities issuance and trading activities inside and outside People's Republic of China (PRC), disturbs the market order in People's Republic of China (PRC) and damages the legitimate rights and interests of domestic investors, shall be dealt with in accordance with the relevant provisions of this Law and shall be investigated for legal responsibility." The so-called "long arm jurisdiction". The cause of the incident originated from a short report on financial fraud of Luckin Coffee published by MuddyWatersResearch on February 1 2020. In this report, Muddy Water Company mobilized 92 full-time and 65,438+0,465,438+08 part-time employees to conduct on-the-spot monitoring in Luckin Coffee, and recorded the store flow of 680 stores, accounting for 9,865,438+0 working days, covering 65,438+0% of business hours. At Luckin Coffee,