Core Viewpoint - NIO is facing a lawsuit from Singapore's sovereign wealth fund, GIC, which accuses the company of inflating revenue and profits through a partnership, leading to investor losses. The lawsuit is based on allegations from a short-seller report from Grizzly Research published in June 2022, which NIO has previously refuted as baseless and misleading [1][2]. Group 1 - GIC's lawsuit claims that NIO misled investors regarding its financial performance through the establishment of Wuhan Weinan Battery Asset Co., Ltd. [1] - The allegations stem from a short-seller report by Grizzly Research, which NIO publicly dismissed as containing numerous errors and unverified speculations [1][2]. - NIO conducted an independent internal review in August 2022, which found no wrongdoing, and the U.S. stock exchange did not take further action following inquiries related to the short-seller report [1]. Group 2 - Major financial institutions, including Deutsche Bank, Morgan Stanley, JP Morgan, and Daiwa Capital, have released reports supporting NIO and disputing the conclusions of the Grizzly Research report, stating that concerns regarding NIO's Battery as a Service (BaaS) model are misinterpretations [2]. - GIC has a history of filing lawsuits against various multinational companies, indicating a pattern of seeking financial redress and managing risks through legal means during market volatility [2].