AutoBeta(AutoBeta.net)10/03 Report--

After a rare seven-day losing streak, NIO's stock price finally rebounded by more than 20%, closing at $1.59 per share, with a market capitalisation of $1.671 billion. As the head of China's new car-making force, Wei Lai Automobile has attracted much attention in every move.

The U.S. stock market closed sharply lower on Wednesday, with the Dow plunging nearly 500 points and the Chinese stocks mixed, with NIO rising 20.45% against the trend. Robin Zhu, an analyst at Bernstein, led a nearly 50 per cent cut in the target price of NIO to 90 cents as audience analysts were bearish. As well as the second quarter earnings report released by NIO, the net loss attributable to shareholders in the second quarter of 2019 was 3.285 billion yuan.

NIO has continued to plummet for a week in a row, and the price is almost halved. Since September 23, it has fallen 10.53%, 20.22%, 5.53%, 4.39%, 10.71% and 10.86% respectively. On the evening of October 1, after the opening of U.S. stocks, NIO Automobile continued to collapse, falling more than 20% at the highest, closing at US $1.32/share, down 15.38%.

On September 12,2018, NIO Automobile, which was successfully listed on the New York Stock Exchange, won a sharp rise on the second trading day after listing. The intraday share price soared by more than 90%, and the market value once exceeded US $13 billion, reaching a peak of US $13.8.

But just a year later, NIO's share price will fall to around $1, shrinking its market value to $1.3 billion. By the latest closing price, it had fallen 90%, and its market value had evaporated by $13.1 billion (nearly 100 billion yuan).

In recent months, the overall situation of China's electric vehicle market has become gloomy. Deliveries fell for the first time in July as the government reduced subsidies and continued to decline in August. In August this year, China's new forces sold only 5,091 vehicles, accounting for 0.4% of domestic passenger car sales in the month. In the face of Wei Lai's downward share price, as of the first half of this year, 91 institutions have reduced their holdings of Wei Lai.

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