China News Service, June 29th: Weilai responded to the agency's short-selling report: there is false information in the relevant content

  China-Singapore Finance and Economics reporter Ge Cheng

  According to media reports, on June 28, the short-selling agency Grizzly Research released a report saying that NIO is likely to use an unconsolidated related party to inflate revenue and profitability.

Regarding the short-selling report, the relevant person in charge of Weilai told Zhongxin Finance that the company had observed the report.

The report is full of a lot of false information and misinterpretation of the information disclosed by Weilai

.

  According to reports, this short report shows that there is an unconsolidated related party, Wuhan Weineng, which has generated billions of dollars in revenue for NIO, "Wuhan Weineng allows NIO to immediately confirm the revenue of the batteries they sell. , rather than recognizing revenue over the subscription period (about 7 years). With this arrangement, we believe NIO has increased this number by recognizing revenue for 7 years in advance.”

  Weilai said that the

company has been strictly abiding by the relevant guidelines for listed companies, and has started relevant procedures for the report, please pay attention to the follow-up announcement.

  On the 28th, as of the close, Weilai's US stock price closed down 2.57% at $22.36 per share.

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