Nio share tumble nearly 6% in Hong Kong after Q1 revenue slid, attributable loss widened
Nio share tumble nearly 6% in Hong Kong after Q1 revenue slid, attributable loss widened

Nio share tumble nearly 6% in Hong Kong after Q1 revenue slid, attributable loss widened

 

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Chinese electric vehicle maker Nio's shares are sliding nearly 6% in Hong Kong after its ADR plummeted 6.8% to close at $4.91 overnight in the US.

NIO's revenue fell 7% year over year in the first quarter, sliding 42.1% from the previous quarter, to 9.909 billion yuan. Gross profit doubled year on year to 488 million yuan, but tumbled 62% from the previous quarter. Loss attributable to shareholders widened to 5.258 billion yuan from 4.804 billion yuan in, but narrowed from a loss of 5.593 billion yuan in . . .

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