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    NIO   US62914V1061

NIO INC.

(NIO)
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NIO's Hong Kong, Singapore Shares Hit New Highs as Outlook Brightens

06/26/2022 | 10:53pm EDT

By Yongchang Chin


NIO Inc.'s shares in Hong Kong and Singapore have climbed to fresh record highs as the global outlook for electric-vehicle demand brightens.

The electric-car manufacturer's Singapore-listed shares gain 4.1% to US$24.77 while its Hong Kong stock rises 4.3% to 196.60 Hong Kong dollars (US$25.05), both new highs.

The two listings are relatively new, having occurred earlier this year. NIO's U.S.-listed shares have also been rebounding from recent lows, last closing up 4.5% at US$24.08, but are still well off their previous highs.

Its peers are also broadly higher in Monday morning trade, with Xpeng Inc.'s Hong Kong stock up 0.4% at HK$136.90 and BYD Co. Ltd. advancing 2.1% to HK$316.60.

The moves come amid expectations that global EV demand is set to rise, with analysts from Nomura projecting growth of 32% a year through to 2025. Sales in China "should be underpinned by price-competitive, technologically advanced, and attractively-designed EV models," they said in a note.

U.S. and European sales are also set to get a boost from increasing consumer preferences for low-emission vehicles and mounting regulatory pressure to cut carbon emissions, the analysts said.

Prices for the raw materials needed to make vehicle batteries--like lithium, cobalt and nickel--also look set to decline from 2023 amid greater supply, which should ease cost pressures for companies like NIO, they added.

There also appears to be strong interest in NIO's product offering, Daiwa Capital Markets analyst Kelvin Lau said in a recent note. Order flows for the company's recently launched ES7 has been strong and there hasn't been any sales cannibalization yet, the analyst said.

"We expect strong sales volume growth for NIO from 2H thanks to new model launches," he said.


Write to Yongchang Chin at yongchang.chin@wsj.com


(END) Dow Jones Newswires

06-26-22 2252ET

Stocks mentioned in the article
ChangeLast1st jan.
MSCI SINGAPORE (GDTR) -0.42% 5777.04 Real-time Quote.-7.59%
NIO INC. 3.96% 19.94 Delayed Quote.-39.49%
NOMURA CO., LTD. 0.32% 937 Delayed Quote.-1.99%
NOMURA CORPORATION -0.31% 958 Delayed Quote.9.36%
XPENG INC. 0.79% 22.875 Delayed Quote.-54.92%
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Analyst Recommendations on NIO INC.
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Financials
Sales 2022 60 758 M 8 998 M 8 998 M
Net income 2022 -7 189 M -1 065 M -1 065 M
Net cash 2022 22 486 M 3 330 M 3 330 M
P/E ratio 2022 -28,6x
Yield 2022 -
Capitalization 214 B 31 678 M 31 678 M
EV / Sales 2022 3,15x
EV / Sales 2023 1,74x
Nbr of Employees 15 204
Free-Float 81,9%
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Technical analysis trends NIO INC.
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TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 129,45 CNY
Average target price 227,02 CNY
Spread / Average Target 75,4%
EPS Revisions
Managers and Directors
Bin Li Chairman
Li Hong Qin President & Director
Wei Feng Chief Financial Officer
Ganesh V. Iyer Global Chief Information Officer
Hai Wu Independent Non-Executive Director
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