HK Stock Market Move | NIO-SW (09866) rose by over 4%, with its subsidiary, Lao Dao L60, officially launched. Morgan Stanley believes that the pricing has the potential to greatly increase purchasing intention.

NIO-SW (09866) is now up more than 4%, as of the press release, up 4.63% to 42.95 Hong Kong dollars, with a turnover of 97.8137 million Hong Kong dollars. On the news front, on the evening of September 19, Lepu, a sub-brand of NIO, officially launched its first car L60. The standard endurance version of the L60 is priced from 206,900 yuan, while the long endurance version starts at 235,900 yuan. Using the BaaS battery rental service, the Lepu L60 starts at only 149,900 yuan. Analysts believe that NIO's entry into the mainstream market range of 200,000 yuan through the Lepu brand is expected to increase sales and improve cash flow. Morgan Stanley released a research report stating that the starting price of NIO's Lepu L60 is 206,900 yuan, which is 13,000 yuan lower than the pre-sale price, while the BaaS model is 57,000 yuan cheaper, with a price of only 149,900 yuan, which is unexpected by the market. Combined with an early bird cash discount of up to 4,000 yuan, as well as a local government subsidy of 10,000 yuan for trading in old vehicles, this suggests higher order conversion and sales expectations. The bank predicts that NIO's stock price will rise in the next 15 days, with a target price of 47.4 Hong Kong dollars.