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Former shareholder no longer hold NIO’s shares

From:Internet Info Agency 2020-02-17 14:28:36

Hillhouse Capital Group has been a major investor in Weilai Automobile. It is reported that according to documents submitted by Hillhouse Capital to the United States Securities and Exchange Commission (SEC), as of December 31, 2019, Hillhouse Capital no longer holds shares in NIO. Previously, Hillhouse Capital led a USD 100 million round in NIO's A round financing, and continued to follow NIO in C and C + round financing. On September 12, 2018, NIO was listed on Nasdaq. At that time, Hillhouse Capital held a 7.5% stake and was the third largest shareholder of NIO.

In 2019, NIO's stock price once fell to $ 1.19 per share. After the Q3 financial report was released at the end of 2019, the stock price began to rebound because the financial performance was better than market expectations. In the Q2 of 2019, Hillhouse Capital increased its shareholding in NIO to 41,938,286 shares, but in the third quarter, Hillhouse Capital reduced its shareholding to 13,368,900 shares, a reduction of 68.12%.

Despite being cleared by Hillhouse Capital, NIO's recent financing progress has also been quite smooth. On February 6, 2020, the automaker completed a total of approximately USD 100 million in convertible debt financing. The investors were two Asian investment funds with no affiliation with them, the amounts were USD 70 million and about USD 30 million, respectively.

On February 14, NIO again announced that it had received $ 100 million in financing and announced that the company still has several other financing projects underway. The results are still uncertain at this stage. The company will comply with relevant legal requirements and disclose important progress or information in a timely manner.

Prior to this, NIO founder and CEO Li Bin stated that the company's top priority in 2020 is to achieve a positive gross profit. According to 2019 financial report data, NIO's sales gross profit has continued to improve. The sales gross profit was -24.1% in Q2, and -6.8% in Q3.

Editor:Liu Nan