Core Viewpoint - NIO's stock price experienced significant volatility due to a lawsuit filed by Singapore's GIC, alleging that NIO inflated revenue through a subsidiary, Wuhan Weinan Battery, misleading investors [2][15][21] Group 1: Stock Price Movement - On October 16, NIO's Hong Kong stock fell by nearly 9% after a 13% drop during the day [1] - The following day, NIO's stock price rebounded by 2% [3] Group 2: Lawsuit Details - GIC's lawsuit claims that NIO misled investors by exaggerating revenue and profits through its relationship with Wuhan Weinan Battery [15] - The lawsuit is currently on hold, pending the outcome of a related class action lawsuit filed by U.S. investors [23] Group 3: Financial Context - Between August 2020 and July 2022, GIC purchased approximately 54.45 million shares of NIO, which are now at a loss due to the bear market and NIO's ongoing lack of profitability [6] - NIO's battery leasing model (BaaS) allows consumers to purchase vehicles at a lower upfront cost while paying a monthly battery rental fee, which has implications for revenue recognition [16][21] Group 4: Accounting Practices - NIO's accounting practices, while compliant with regulations, have raised concerns about revenue recognition and transparency [21][26] - The establishment of Wuhan Weinan Battery allows NIO to front-load some future revenue, potentially enhancing its market valuation [21][26] Group 5: Market Reactions and Comparisons - The situation reflects common practices in the U.S. market, where companies like Apple and Nvidia have faced similar lawsuits for misleading disclosures [8][12][13] - The long-term impact on NIO will depend on its ability to sustain sales growth, similar to how Luckin Coffee rebounded after its financial scandal [29][30]

来源：市场资讯 （来源：知危） 10 月 16 日午后，蔚来汽车港股一度大跌 13%，收盘下跌近 9% 。 市场普遍认为的原因是，新加坡政府投资基金（ GIC ）在 2025 年 8 月份将蔚来汽车告上美国法庭，指 控蔚来汽车通过体外公司（ 武汉蔚能电池 ）虚增收入、误导投资者。 不知为何，两个月后的 10 月 16 日，这则 " 旧案 " 突然在中文媒体中发酵，并引起蔚来汽车股价波动。 实际上，目前该案件在美国法院处于暂时搁置状态。第二天蔚来汽车港股股价上涨 2% 。 说实话，这套路很像资本市场中的谣言出货法：蔚来股价在过去几个月翻了一倍，里面的大资金（ 假 如有，我们称之为镰刀资本 ）想要出货，可以先将股价砸出大坑，这时同步放一个假新闻甚至谣言， 冷静清醒的围观群众发现实际上并没有很大利空，纷纷抄底，于是镰刀资本就能将大部分股票在高位顺 利卖出，而不明真相的群众，此时则成了山顶资本。 当然，这有可能属于过度解读的阴谋论，毕竟股价随消息波动是资本市场的正常现象，也有可能是空头 借此打压股价。 下面，我们来详细聊聊这事的来龙去脉。 在 2020 年 8 月到 2022 年 7 月期间，新加坡政府投资基金累计买 ...