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<Research>Nomura: NIO-SW's Fundraising Could Support Balance Sheet in ST; ES8 Launch Reaction Crucial
Recommend 3 Positive 3 Negative 1 |
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NIO-SW (09866.HK) (NIO.US) announced its second share placement within six months to raise RMB7.2 billion, according to Nomura's report. If the over-allotment option is fully exercised, the fundraising could reach up to RMB8.3 billion, which is estimated to dilute existing shareholders by 7.5-8.6%. In Nomura's opinion, the fundraising will be a tailwind for NIO-SW's development plans, including technology and new model R&D, battery swapping and charging networks, and reversing the negative total equity status in its balance sheet since 1Q25. Given that NIO-SW has been consistently loss-making and entered a negative total equity status, the company is believed to be considering capital market financing as a potential plan. Nomura estimated the fundraising might be sufficient to support its balance sheet at least in the short term. Nomura also viewed NIO-SW's NIO Day 2025 on September 20 as a crucial event, as the new ES8 will be officially launched with its price unveiled. The rating of NIO-SW's US shares was kept as Neutral, with a target price of USD5. AAStocks Financial News |
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