Di Yi Cai Jing·2025-10-16 14:04Core Viewpoint - NIO responds to the lawsuit from Singapore's sovereign wealth fund, GIC, stating that the case is based on false allegations from a short-seller report in June 2022, and that an independent investigation found no factual basis for the claims [1] Group 1: Legal Context - The lawsuit is not a new event and is not related to NIO's recent operational status [1] - The allegations stem from a short-seller report by Grizzly Research, which prompted NIO's board to conduct an independent investigation with the help of third-party legal and forensic accounting firms [1] Group 2: Market Reaction - Following the news, NIO's stock price on the Hong Kong market dropped over 13% at one point, closing down 8.99% [1] - In the U.S. market, NIO's stock fell over 6% after the announcement [1] Group 3: Investment Background - Between August 2020 and July 2022, GIC purchased approximately 54.45 million shares of NIO's American Depositary Shares (ADS) [1] - During this period, NIO's stock price fluctuated between $13 and $21, reaching a historical high of $66.99 [1]