"Stock Market Brief" China's Nio plunges in pre-market trading, with adjusted net loss in the third quarter widening year-on-year and revenue falling short of expectations
China's Nio stock in the U.S. plummeted 5.6% in pre-market trading on Wednesday due to a year-on-year widening of its adjusted net loss in the third quarter and revenue falling short of market expectations. Nio's Hong Kong stock fell 3.7%; XPeng and Li Auto's U.S. stocks rose 2% and fell 1.7% in pre-market trading, respectively. Nio expects a maximum delivery volume of 75,000 vehicles in the fourth quarter, with a year-on-year growth rate of up to 50%
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China's new force in the automotive industry – Nio's U.S. stock (NIO.N) plunged 5.6% in pre-market trading on Wednesday, following the earlier announcement of a wider year-on-year adjusted net loss for the third quarter, with revenue declining and falling short of market expectations.
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Nio's Hong Kong stock (9866.HK) closed down 3.7% on Wednesday; XPeng (XPEV.N) and Li Auto (LI.O) saw pre-market gains of 2% and a decline of 1.7%, respectively. * Nio announced on Wednesday that its adjusted (Non-GAAP) net loss for the third quarter widened year-on-year, with revenue falling short of market expectations, impacted by a decline in average vehicle prices due to changes in the product mix. The company expects fourth-quarter deliveries to reach up to 75,000 units, a year-on-year increase of up to 50%. (End)
For more stock market news, please click (CN-CMN-HOT) (Reported by Su Yangyun; Edited by Qu Guijuan)
