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NIO Inc. rose 3.63%. The company announced strategic agreements with Geely covering battery swapping and charging, under which a Geely subsidiary will contribute its 100% equity interest in Yiyi Interconnect Technology, a commercial vehicle battery-swap business, together with RMB 640 million in cash, to acquire 30.0% of NIO Power at an implied post-money valuation of about RMB 16 billion; NIO retains a 63.6% controlling interest and Wuhan Guangchuang holds 6.4%, the Geely stake is subject to post-closing adjustments tied to operational milestones with a floor of no less than 20%, an option provides for a further RMB 640 million investment, related steps include NIO China taking 10% of Geely’s Haohan Energy funded by proceeds from certain charging asset transfers, and completion is contingent on regulatory approvals and customary closing conditions.