BUZZ-China EV maker NIO falls on widening Q4 net loss

Reuters03-24

** HK shares of NIO 9866.HK fall 4.9% to HK$34.15, lowest since March 10

** Stock set for fourth consecutive session of declines; top pct loser on Hang Seng Tech Index .HSTECH, which is down 0.2%

** Chinese EV maker's Q4 net loss widens to 7.11 bln yuan ($979.43 mln) from year-ago 5.37 bln yuan

** However, vehicle sales up 13.2% y/y

** Citi maintains "buy"; cuts TP to HK$62.50 from HK$68.10

** Expects Q1 FY25 vehicle margin to decline q/q during slow car sales season

** Sees earnings improving from mid-Q2

** YTD, HK shares down 1.4%

($1 = 7.2593 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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