THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 8):
Nio (NIO): Higher expenses, including for research and development, weighed on the latest performance of Chinese electric carmaker Nio, with the company widening its net loss for Q2 ended June to 2.7 billion yuan (S$545 million), from 659.3 million yuan the year before.
Revenue for the quarter rose 21.8 per cent to 10.3 billion yuan, with vehicle sales up 21 per cent to 9.6 billion yuan. This came as vehicle deliveries rose 14.4 per cent to 25,059, of which 9,914 were of the ES6 model.
The increase in vehicle deliveries came despite pandemic-related challenges, said William Bin Li, Nio’s founder, chairman and CEO, in the company’s earnings statement on Wednesday (Sept 7).
Looking ahead, H2 “is a critical period for Nio to scale up the production and delivery of multiple new products”, said Li.
Frasers Property (TQ5): NEARLY 75 per cent or 118 of Sky Eden@Bedok’s 158 residential units have been sold at an average price of about S$2,100 per square foot (psf) on the first day of the property’s launch on Wednesday (Sep 7).
Pricing for the project was earlier estimated by the developer to start from S$1,937 psf.
In a press statement on Thursday, developer Frasers Property said all 2-bedroom units of the project had been fully sold. The remaining 3-bedroom and 4-bedder units range from 1,087 square feet (sq ft) to 1,302 sq ft.
Chip Eng Seng (C29): Property developer Chip Eng Seng on Wednesday (Sep 7) said that Celine Tang, its non-executive chairman and non-independent and non-executive director, is considering a possible transaction involving the group’s shares.
However, there is no certainty that any possible transaction will materialise at this junction, Chip Eng Seng noted in a bourse filing.
Tang, who is also group managing director of property player SingHaiyi and non-executive chairman at OKH Global, became Chip Eng Seng’s chairman in 2018 after becoming its largest shareholder. She is also the wife of Singapore property tycoon Gordon Tang.
Watches.com (WVJ): In an update on the recent seizure of some S$30,000 worth of watches owned by Watches.com’s indirect subsidiary, CKLY Trading Limited (CTL), it was revealed that the watches were those from Michael Kors and Armani.
The 500 watches involved were also reported by Hong Kong Customs and Excise Department (C&E) to have an estimated market value of HK$600,000 (S$107,477). Watches.com said the earlier S$30,000 was derived from the book value of the watches.
The value of the watches would be much higher if it was derived based on retail price, said Watches.com in a bourse filing on Wednesday (Sep 7) night.
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