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A huge cloud may have just flown away from the stock of NIO Inc
For the second day in a row, NIO investors received positive news from Chinese authorities. The company's American depositary shares are up again this morning, rising 6% at the outset but softening to a 1.9% gain as of 10:05 a.m. ET.
According to the article, officials in Washington and Beijing have inked a first audit agreement to avert delisting's. The deal reached between the PCAOB and Chinese regulators is excellent news for NIO and more than 160 other Chinese businesses that have been designated as risking delisting for noncompliance.
The PCAOB should be able to obtain the audit information it requires under the agreement. However, investors must continue to monitor the agreement's implementation. If it performs as planned, it should eliminate the possibility of delisting for any of the recognized Chinese businesses that have enough auditing control.
Separately, NIO said that it would begin distributing its first ET5 mid-size cars on September 30. According to CnEVPost, NIO co-founder and president Qin Lihong made the announcement during a Chinese vehicle expo. Qin also stated that he expects the ET5 to outsell the gasoline-powered BMW 3 Series in China within a year.
The sedans and NIO's other car sales and popularity will decide how the company expands in the next years. But it was as crucial for U.S. investors to learn today that delisting worries may now be in the rear-view mirror.
Lakefield International considers best-in-class reporting, risk transparency, and investment accounting technology to be equally as important as performance, you may visit us at our website https://lakefieldinternational.com/
Lakefield International's PR Manager Shiela Wong
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