<p>In response to the allegations of securities fraud against Nio and its executives by the Government of Singapore Investment Corporation, an unnamed Nio executive told reporters, &#34;This is a follow-up to the short-selling by Grizzly a few years ago, but it's unclear why someone is stirring this up recently.&#34; The incident caused fluctuations in Nio's stock price, and on October 16, Nio's Hong Kong stock closed at HKD 49.28, down 8.99%</p>

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<p>In response to the allegations of securities fraud against Nio and its executives by the Government of Singapore Investment Corporation, an unnamed Nio executive told reporters, "This is a follow-up to the short selling by Grizzly a few years ago, but it is unclear why this matter is being hyped recently." The incident caused fluctuations in Nio's stock price, and on October 16, Nio's Hong Kong stock closed at HKD 49.28, down 8.99%</p>

Zhitong

NIO Inc. USD OV

NIO-SW

Nio executives respond to accusations from the Government of Singapore Investment Corporation (GIC): unclear why there has been recent speculation on this matter