Singapore Stocks to Watch: Nio, 17Live, Mm2 Asia

TigerNews SG03-06

The following companies saw new developments that may affect trading of their securities on Wednesday (Mar 6):

Nio (NIO): China-Based electric vehicle (EV) maker Nio narrowed its fourth-quarter loss for FY2023 by 4.3 per cent year on year to 5.6 billion yuan (S$1.1 billion) on higher vehicle sales margin.

The company, which is listed in the United States, Hong Kong and Singapore, delivered a 4.6 per cent year-on-year rise in vehicle sales to 15.4 billion yuan for the period to December 2023, with vehicle sales margin improving to 11.9 per cent from 6.8 per cent for the year-ago quarter.

The higher vehicle sales margin was mainly attributed to lower material cost per unit and the absence of inventory provisions and losses on purchase commitments that were recorded in Q4 FY2022.

17Live (LVR), Mm2 Asia (1B0): Joint entertainment offerings across South-east Asia are in the sights of both 17Live Group and mm2 Asia, 17Live said on Tuesday (Mar 5).

A memorandum of understanding has been signed by livestreaming platform 17Live and media and entertainment company mm2 Asia to collaborate on entertainment marketing and production-related activities.

Such activities would include marketing of movies, collaboration between live streamers and mm2 movie projects, as well as the production of long-form animation content.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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