GIC sues China EV Nio for revenue inflation

[Iceberg]

Singapore Wealth Fund Sues Nio Over Alleged Revenue Inflation
https://www.bloomberg.com/news/news...-fund-sues-nio-over-alleged-revenue-inflation

Singapore’s sovereign wealth fund GIC has filed a lawsuit against Chinese EV maker Nio in a US court, accusing the company and top executives of inflating revenue and misleading investors. The rare legal move by GIC sent Nio’s shares tumbling in Hong Kong and Singapore.

Nio shares dropped as much as 13% in Hong Kong and 9.8% in Singapore, as news of the legal action ignited doubts over the company’s outlook and its ability to raise more funds. Last month, Nio raised $1.2 billion through a share sale — one of several equity offerings that have brought in billions over the years — but it has yet to post a profit since founding in 2014.

The lawsuit marks an unusual offensive from GIC, which has rarely sued over soured investments.

 

[Iceberg]

Nio used another firm to inflate over US$600 million in revenue
https://eletric-vehicles.com/nio/ho...another-firm-to-inflate-over-600m-in-revenue/

 

[batman1]

So GIC got scammed by ah tiong co.

 

[Pinkieslut]

Buy high sell low again!

 

[k1976]

Another buy BIG…Open small
11% coming soon?

 

[k1976]

So GIC got scammed by ah tiong co.

How can Elites of world smartest nation be cheated by Ah Tiong??

 

[Iceberg]

So GIC got scammed by ah tiong co.

SGX just allowed NIO's secondary listing in Singapore this year.
https://www.businesstimes.com.sg/co...aker-nio-make-south-east-asia-debut-singapore

Typical S-Chip shit

 

[k1976]

SGX just allowed NIO's secondary listing in Singapore this year.
https://www.businesstimes.com.sg/co...aker-nio-make-south-east-asia-debut-singapore

Typical S-Chip shit

Huat big big hah

 

[nabeifuckpap]

This is why Shitgapore got 10% tariff

 

[batman1]

How can Elites of world smartest nation be cheated by Ah Tiong??

Cos they are not paid enough. 555

 

[k1976]

That is why need CECA talents mah

Cos they are not paid enough. 555

 

[laksaboy]

Keep doing business with those trashy Tiongs at your own peril.

 

[Hightech88]

Looks like this Nio is not The One LOL.

 

[syed putra]

Nio cars are cheap as it comes without batteries. You need to pay monthly subscription for the batteries.
As battery technology improve, so will the car. The electrical motor seldom break down.
Unfortunately the cost of building the battery exchange centres and spare batteries that comes with it is huge.
The good part is you do not need hours to charge your batteries till 100%.you merely exchange it for a recharged one in 3 minutes.

 

[eatshitndie]

they should have known investing in ccp cumpanies is toxic. took poison and forgot about antidote? now sue for tiny bottle of antidote?

 

[k1976]

Looks like this Nio is not The One LOL.

This Nio is the “Chong” one
Real one is NEO

 

[Scrooball (clone)]

NIO should counter sue the morons at GIC. Ownself never do proper due diligence, then cry father cry mother when make loss! lol

 

[eatshitndie]

NIO should counter sue the morons at GIC. Ownself never do proper due diligence, then cry father cry mother when make loss! lol

gic sinkie executives are living the good life in marin county north of sf. fat pay, fat bonuses, over us$6.9m homes, private schools for their kids. driving to sf and paying $39 a day for parking and $9-10 toll at the bridge 5 days a week are like a drop in the bucket for them.

 

[laksaboy]

they should have known investing in ccp cumpanies is toxic. took poison and forgot about antidote? now sue for tiny bottle of antidote?

What is the real population number in China now? It's most likely a lot lesser after the Covid scamdemic+lockdowns.

A lot lesser than the overly hyped 1.4 billion figure, and fools still want to invest in that country.

 

[Eisenhut]

Tiongs are for ATB to pump and dump