Core Viewpoint - The lawsuit filed by the Government of Singapore Investment Corporation (GIC) against NIO has raised market concerns regarding allegations of inflated revenue and profits through a partnership, leading to investor losses [1] Group 1: Legal Issues - GIC accuses NIO of misleading investors through inflated financials related to Wuhan Weinan Battery Asset Co., resulting in investment losses [1] - NIO representatives claim the lawsuit is not a new issue and stems from a 2022 short-seller report by Grizzly Research, which they assert contains unfounded allegations [1] Group 2: Company Response - NIO emphasizes compliance with regulatory requirements across its listings in the US, Hong Kong, and Singapore, and has conducted an independent investigation into the allegations with third-party assistance [1] - The company aims to continue advancing battery technology and innovative business models to benefit users and promote the healthy development of the electric vehicle industry [1] Group 3: Market Reactions - Following the Grizzly report, major financial institutions like Deutsche Bank, Morgan Stanley, JP Morgan, and Daiwa Capital released reports refuting the conclusions of the short-seller, indicating a misunderstanding of NIO's Battery as a Service (BaaS) model [1][2]

Core Viewpoint - NIO Inc. is facing legal challenges from the Government of Singapore Investment Corporation (GIC), which has accused the company and its executives of securities fraud related to inflated revenue and profits through a partnership with Wuhan WeNeng Battery Asset Co., Ltd. [2][3] Group 1: Legal Issues - GIC's lawsuit claims that NIO misled investors, resulting in significant financial losses for GIC, estimated between $500 million to $2 billion, due to the purchase of 54.45 million NIO American Depositary Shares (ADS) from August 2020 to July 2022 [3]. - The allegations stem from a short-selling report by Grizzly Research in June 2022, which NIO has previously denied, stating that the report contained numerous inaccuracies and misleading conclusions [3][4]. - Following the short-selling report, NIO conducted an independent internal review, which found no wrongdoing, and the U.S. Securities Exchange did not take any action regarding the inquiry into the related transactions [4]. Group 2: Market Reactions - On October 16, NIO's stock price in Hong Kong fell by 8.99% to HKD 49.28, likely influenced by the ongoing legal issues and market speculation surrounding the GIC lawsuit [2]. - Major financial institutions, including Deutsche Bank, Morgan Stanley, and JP Morgan, have publicly supported NIO, stating that the concerns raised by Grizzly Research regarding NIO's Battery-as-a-Service (BaaS) model are unfounded and misinterpret the business model [5].