On June 26, NIO-SW fell 3.26% at open, trading at HKD 37.36/share, with turnover of HKD 421,000. The decline came amid broad weakness across the automobile manufacturing sector coupled with intensified industry headwinds flagged by company leadership.

On the news front, NIO founder Li Bin recently stated that domestic retail market sales declined 19.5% year-on-year from January to May, warning the industry should prepare for a full-year decline of 15% to 20%. Li Bin characterized this as the most difficult year since he entered the automotive industry. Additionally, NIO and Li Auto have engaged in a public dispute over technology routes, with NIO advocating that pure EV is the ultimate path while Li Auto defends its extended-range approach, heightening market concerns over intensifying competitive dynamics.

The broader auto sector reflected similar pressure, with BYD Company down 1.38%, Geely Auto down 1.05%, Li Auto-W down 0.84%, and Leapmotor down 1.69%.

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