千亿巨头突然下跌，发生了什么？

Core Viewpoint - The significant decline in the Hong Kong automotive sector, particularly for NIO, is primarily attributed to a lawsuit filed by Singapore's sovereign wealth fund, GIC, against NIO and its executives for alleged securities fraud [1][3][4]. Group 1: Company-Specific Developments - NIO's stock experienced a drop of over 13% in Hong Kong and more than 10% in the US night market due to the lawsuit [1][3]. - GIC claims that NIO and its battery asset company, NIO Power, misled investors by prematurely recognizing battery sales and concealing NIO's control over NIO Power, which inflated revenue and profits [3][4]. - GIC alleges that despite NIO holding less than 20% of NIO Power, it retains significant economic interests and operational control [4]. Group 2: Industry Trends - The automotive sector in Hong Kong saw a broader decline, with other companies like XPeng and Xiaomi also experiencing stock drops [1][3]. - Despite the negative news surrounding NIO, the overall automotive sector had previously shown resilience, with a report indicating potential profit recovery due to market competition and product optimization [7]. - The Chinese government announced a plan to enhance electric vehicle charging infrastructure, aiming to build 28 million charging facilities by 2027, which could support the growth of the electric vehicle market [6].