Changes in Hong Kong stocks | NIO - SW (09866) rose more than 4% The pressure to finance the company's balance sheet has been eliminated, and product portfolio transformation will become the core growth engine in the future

The Zhitong Finance App learned that NIO - SW (09866) rose more than 4%. As of press release, it had risen 4% to HK$29.12, with a turnover of HK$81.77,200.

According to the news, Damo released a research report stating that NIO SW management reiterated that the company will prioritize driving profit growth through sales growth and operating leverage, and also reiterated that it will achieve non-GAAP (non-GAAP) adjusted profit goals this year. Furthermore, the company expects to stabilize vehicle gross margin at around 18% by improving efficiency. The bank believes that NIO's balance sheet financing pressure has been removed. It is expected to exceed 60 billion yuan in cash and equivalent (in the third quarter) and 70 billion yuan next year. The electricity exchange business is expected to approach break-even within three years.

UBS pointed out that the domestic automobile market is fiercely competitive, but consumption capacity has increased, and the high-end pure electric vehicle market is still showing strong resilience. This year, with its brand loyalty and high-end positioning, NIO became one of the few brands whose sales volume increased by more than 50% year on year, the average sales price increased, and was able to maintain monthly sales of more than 10,000 units half a year after the launch of a new car. The bank believes that the renewal of the product portfolio will become NIO's core growth engine in the future.