[2] Lu earned a degree in industrial electric automation from the University of Science and Technology Beijing in 1991, and an EMBA degree from Peking University in 2010.
[1] Lu was an early investor in Luckin Coffee.
[2][3] In mid-April 2020, American investment bank Goldman Sachs announced that it would seize and sell Zhengyao's Luckin stock holdings after he defaulted on a corporate margin loan.
[4][5] In December 2020, he paid a 180-million dollars fine to the US Securities and Exchange Commission for defrauding investors.
[3] In May 2021, he announced he was working on the launch of a 500-store noodle stores chain, Xiaomian Riji ('noodle diary').