Xin Lang Cai Jing·2025-10-16 14:07Group 1 - NIO's stock dropped by 8.99% due to a lawsuit filed by Singapore's Government Investment Corporation (GIC), alleging that NIO inflated revenue through its battery asset company, Wuhan Weinen [1][5] - The lawsuit by GIC was initially filed in August 2023, but the news resurfaced recently, causing the stock reaction [2][4] - GIC, a well-known sovereign wealth fund managing $690 billion in assets, is perceived to have a mediocre management level, and the allegations against NIO are seen as a rehash of previous claims made by short-seller Grizzly Research in June 2022 [4][5] Group 2 - Grizzly Research accused NIO of prematurely recognizing revenue, overstating battery sales, and manipulating depreciation costs to enhance profits, which NIO refuted by submitting a comprehensive explanation to the SEC [5] - GIC's current allegations are viewed as lacking new evidence and are interpreted as an attempt to justify investment losses [5] - The market reaction to GIC's lawsuit indicates a lack of understanding among investors, leading to a significant drop in NIO's stock price [5]