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2022-06-20

NIO Surges Over 9% in Hong Kong, Market Cap Back to HK$300 Billion

NIO's stores in Shanghai have returned to pre-Covid lockdown traffic levels, and top Chinese investm

NIO Surges Over 9% in Hong Kong, Market Cap Back to HK$300 Billion

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CICC, a top Chinese investment bank, sees about a 30 percent upside for NIO in a research note on Friday, bullish on the growth momentum of the company&#39;s NT 2.0 platform models.</p><p>CICC initiated coverage of NIO&#39;s Hong Kong-traded shares with an Outperform rating and a HK$196 price target, implying a 26.2 upside from the company&#39;s closing price of HK$155.3 last Thursday.</p><p>The investment bank also raised its price target on NIO&#39;s shares traded in the US by 8.7 percent to $25, implying an upside of 30.3 percent.</p><p>It is also worth noting that NIO stores in Shanghai have seen traffic return to pre-Covid lockdown levels, with travel restrictions in the city lifted earlier this month, according to a local media report.</p><p>NIO&#39;s 27 stores in Shanghai have seen all staff return to their posts, and traffic at those stores has returned to levels seen before this round of Covid outbreak, Shanghai Securities News reported in a report yesterday evening.</p><p>The report included a picture with a caption mentioning that NIO&#39;s store in the busy West Nanjing Road in Shanghai saw lots of customers, many of them with their families, on the evening of June 18 to see the show cars.</p><p>On June 18, NIO added a battery swap station in Shanghai, the first this month. The company also added a new NIO House, which is its comprehensive facility with showroom functions and advanced services for users, in Beijing on the same day.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Surges Over 9% in Hong Kong, Market Cap Back to HK$300 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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CICC, a top Chinese investment bank, sees about a 30 percent upside for NIO in a research note on Friday, bullish on the growth momentum of the company's NT 2.0 platform models.CICC initiated coverage of NIO's Hong Kong-traded shares with an Outperform rating and a HK$196 price target, implying a 26.2 upside from the company's closing price of HK$155.3 last Thursday.The investment bank also raised its price target on NIO's shares traded in the US by 8.7 percent to $25, implying an upside of 30.3 percent.It is also worth noting that NIO stores in Shanghai have seen traffic return to pre-Covid lockdown levels, with travel restrictions in the city lifted earlier this month, according to a local media report.NIO's 27 stores in Shanghai have seen all staff return to their posts, and traffic at those stores has returned to levels seen before this round of Covid outbreak, Shanghai Securities News reported in a report yesterday evening.The report included a picture with a caption mentioning that NIO's store in the busy West Nanjing Road in Shanghai saw lots of customers, many of them with their families, on the evening of June 18 to see the show cars.On June 18, NIO added a battery swap station in Shanghai, the first this month. 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