Written by Cláudio Afonso | LinkedIn | X
The electric vehicle maker Nio announced on Wednesday that it will report its unaudited financial results for the first quarter of 2024 on June 6, before the market opening.
The results will be followed by a conference call with CEO William Li and CFO Steven Feng at 8:00 am U.S. Eastern Time. In the first quarter of the year, Nio delivered 30,053 units, meeting the company’s guidance despite a recent adjustment from 31,000-33,000 units to 30,000 units.
On Tuesday, the company reported that its unit “CHJ Limited” is participating in the Singapore Exchange (SGX) Securities Lending Program.
Answering EV, a Nio spokesperson said the move aims to “support the liquidity of NIO Inc.’s stock in the Singapore Exchange market” adding that the Lending Program is “a standardized service operated by SGX, through which hundreds of stocks are currently traded”.
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Later in the filing, Nio noted that neither the company nor CHJ Limited “will receive any proceeds from the lending of the Class A ordinary shares,” except for a lending fee to CHJ Limited.
Earlier in the day, Swedbank AB disclosed in a filing that it added 1,187,310 shares of electric vehicle startup Nio to its portfolio, valued at over $5.34 each by the end of the first quarter. With Tuesday’s closing price at $5.25 per share, the position is now valued at $6.23 million.
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In the same filing, the bank disclosed owning 66,154 shares of the hybrid manufacturer Li Auto. On the last day of March, the shares were valued at over $2 million although given the recent drop in the stock price, the current value is below $1.4 million.
According to Fintel, there are currently 629 institutional shareholders holding a total of 350,336,979 shares in the Shanghai-based EV manufacturer.
Last week, the Chinese conglomerate, Tencent Holdings, submitted a form to the Securities and Exchange Commission (SEC), revealing the sale of 28,454,077 shares of Nio. As a result, Tencent now holds 95,657,938 shares in the company. This marks a 22.93 percent decrease from their previous filing in June 2023.
Written by Cláudio Afonso | LinkedIn | X
