Written by Cláudio Afonso | info@claudio-afonso.com
The Hong-Kong Hang Seng Index surged 8.94% on Wednesday having the best day since October 2008. Chinese Stocks showed today significant gains with NIO gaining 29.11%, Xpeng Motors +32.28%, LI Auto +34.59%, and the Buffett-backed BYD jumping +17.80%. Ealier today, the Chinese Vice Premier Liu He held a financial stability meeting and granted that regulat0rs from both nations are “progressing toward a cooperation” — as reported by a Chinese state media.
After the approval received on February 28th, NIO shares started trading on the Main Board of The Stock Exchange of Hong Kong on March 10th. At the time, NIO shares opened at 160.00 and dropped 32% during the first days of trading to 108. Chinese stocks have been under pressure (again) during the last days with SEC threatening Chinese companies for don’t complying with U.S. audit requirements. Even knowing that NIO, Xpeng and LI Auto are not included on this list, Investors have been showing some fear and managing its risk.
READ MORE: NIO: next catalysts and why I am Bullish for the upcoming months (by C. Afonso)
On Tuesday, a NIO ES8 Model with NAD System was spotted on a highway in France (with a German plate). NIO announced the system in January 2021 during the unveiling of NIO ET7 Model, the first one using this technology. On January 16th, the same model was also seen in Braunschweig, 550km from Munich with a very similar plate (M DU 429E vs M DU 425 E) — check it here. NIO will enter 4 new European Markets this year such as Germany, Denmark, Sweden and The Netherlands. During the last NIO Day, the company revealed that will be present in 25 Countries by 2025.
The company said will report its fourth quarter and full year 2021 unaudited financial results on Thursday, March 24, 2022, after the close of the U.S. markets. NIO will host an earnings conference call at 9:00 PM U.S. Eastern Time on March 24, 2022 (9:00 AM Beijing/Hong Kong Time on March 25, 2022). A live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.nio.com/news-events/events.
NIO announced on March 1st that delivered 6,131 vehicles during last month. February deliveries are often affected by the Chinese Spring Festival Hollidays where the factories usually close from January 31st to February 6th.
Written by Cláudio Afonso | info@claudio-afonso.com