NIO Auto announced on the Hong Kong Stock Exchange that the NIO Group has entered into formal agreements with several subsidiaries of Zhejiang Geely Holding Group Co., Ltd. to carry out strategic transactions for power exchange and charging business. According to the formal agreement, a subsidiary of Geely Holding Group will subscribe to NIO Energy Investment Co., Ltd.'s new shares in NIO Energy Investment Co., Ltd. in exchange for 100% of its shares in Yiyi Internet Technology, plus RMB 640 million in cash. The transaction is subject to regulatory approval and other normal delivery conditions before it can be completed. After the transaction is completed, the Geely Holding Group subsidiary will hold 30.0% of NIO Energy's total shares; NIO Holdings Co., Ltd., a subsidiary of NIO, will continue to hold 63.6% of the controlling shares; and the existing investor, Wuhan Guangxin Technology Phase I Venture Capital Fund Partnership, will hold the remaining 6.4% of the shares. After the transaction was completed, NIO Energy's post-investment valuation was approximately RMB 16 billion.

NIO Auto announced on the Hong Kong Stock Exchange that the NIO Group has entered into formal agreements with several subsidiaries of Zhejiang Geely Holding Group Co., Ltd. to carry out strategic transactions for power exchange and charging business. According to the formal agreement, a subsidiary of Geely Holding Group will subscribe to NIO Energy Investment Co., Ltd.'s new shares in NIO Energy Investment Co., Ltd. in exchange for 100% of its shares in Yiyi Internet Technology, plus RMB 640 million in cash. The transaction is subject to regulatory approval and other normal delivery conditions before it can be completed. After the transaction is completed, the Geely Holding Group subsidiary will hold 30.0% of NIO Energy's total shares; NIO Holdings Co., Ltd., a subsidiary of NIO, will continue to hold 63.6% of the controlling shares; and the existing investor, Wuhan Guangxin Technology Phase I Venture Capital Fund Partnership, will hold the remaining 6.4% of the shares. After the transaction was completed, NIO Energy's post-investment valuation was approximately RMB 16 billion.