Zheng Quan Shi Bao Wang·2025-10-16 09:55Core Viewpoint - The Singapore Government Investment Corporation (GIC) has filed a lawsuit against NIO, alleging that NIO inflated revenue and profits through a partnership with Wuhan Weinan Battery Asset Co., misleading investors and causing financial losses to GIC [2]. Group 1: Lawsuit Details - GIC's lawsuit is based on allegations stemming from a short report by Grizzly Research published in June 2022, rather than recent operational developments of NIO [2]. - NIO responded to the accusations in the Grizzly report, stating that it was baseless and contained numerous errors and misleading conclusions [2]. - An independent internal review conducted by NIO in August 2022, with assistance from third-party professionals, found no wrongdoing, and all allegations were deemed unfounded [2]. Group 2: Market Reactions - Major financial institutions such as Deutsche Bank, Morgan Stanley, JP Morgan, and Daiwa Capital released reports supporting NIO, stating that Grizzly's concerns regarding NIO's Battery as a Service (BaaS) model were misinterpretations [3]. - Deutsche Bank specifically noted that Grizzly's worries about the BaaS business model were unfounded and that the elements of the business model were severely misunderstood [3]. Group 3: GIC's Legal History - This is not the first time GIC has initiated lawsuits against publicly traded companies; it has previously sued firms like Qualcomm, Merck, and BP, claiming that certain actions by these companies led to investment losses [3]. - An investment analyst indicated that GIC's actions serve dual purposes: financial claims and as part of a risk management strategy to hedge against potential investment losses during market volatility [3].