On August 25, NIO-SW declined 3.9% in regular trading, trading at 34.14 HKD/share, with turnover of approximately 10.48 million HKD.

On the news front, NIO CEO Li Bin announced at an autonomous driving all-hands meeting that the company's intelligent driving chief Ren Shaoqing has established an independent physical AI foundation model and embodied intelligence company. NIO will serve as a strategic investor and collaborate with the new entity. The new company's valuation has reportedly reached unicorn level, with expectations of at least 10 billion RMB.

Although NIO officially stated that Ren Shaoqing will continue to serve as the head of NIO's autonomous driving division, the market has raised concerns over his ability to effectively allocate attention between the new venture and NIO's ongoing smart driving R&D efforts. NIO's US-listed shares had already fallen 5.18% on the same news in the prior session, with the HK-listed stock extending the selling pressure. Ren joined NIO in 2020 and led the transition from modular autonomous driving architecture to end-to-end and world model approaches, as well as the deployment of NIO's proprietary Shenji NX9031 chip.

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