Cash burn speeds up with capital injection

M N 6 Mar 2024 CMB International Global Markets | Equity Research | Company Update NIO Inc. (NIO US) Cash burn speeds up with capital injection Target Price US$6.20 Maintain HOLD. NIO’s all-time high R&D and SG&A expenses in 4Q23 once (Previous TP US$6.80) again confirm that it is probably too difficult for the company to control costs. Up/Downside 13.1% The cash burn from CYVN’s capital injection may last shorter than we expected Current Price US$5.48 before. We see no sign or persuasive strategies to turn ...