"On the one hand, Moutai accelerates its brand rejuvenation through cooperation with Luckin and on the other hand, for Luckin, its cooperation with Moutai also helps to improve its comprehensive strength and brand tone in the coffee industry." Luckin has been aggressively expanding its store portfolio in China after surviving an accounting fraud scandal in 2020 that forced it to withdraw from the Nasdaq exchange and brought it to the brink of collapse. ($1 = 7.2640 Chinese yuan renminbi) (Reporting by Sophie Yu and Brenda Goh. Editing by Gerry Doyle)