(Yicai Global) April 3 -- The China Securities Regulatory Commission is greatly concerned about Luckin Coffee's financial fraud, and condemns its fabrication, it said in a statement today on its official account on Tencent Holding's popular WeChat messaging app.

Firms that list, regardless of where, should strictly abide by market rules and discharge their information disclosure obligations in a true, accurate and complete manner, the CSRC added.

Luckin Coffee, known as China's Starbucks, disclosed yesterday that Liu Jian, its chief operating officer, had padded its sales for last year by about CNY2.2 billion (USD310 million). Luckin's shares [NASDAQ:LK] plummeted over 80 percent in trading to close down 75.57 percent at USD6.40 that same day.

Editor: Ben Armour