In its 3QFY2024 results, Nio announced a 12% gain in vehicle delivery but a 14% decline in vehicle price and 2% drop in revenue to RMB18.7 billion ($3.48 billion).
Morningstar analyst Vincent Sun has reduced his fair value estimate on Nio to HKD52.50 ($9.09, from HKD58.50 previously, but maintains a “four star” rating following the company’s 3QFY2024 ended September update.
Nio, a global smart electric vehicle company, was listed on the Singapore Exchange (SGX:S68
) in May 2022. It is the first Chinese company to be listed in the US, Hong Kong and Singapore.
