HK Stock Market Move | Novacap (02635) falls over 14% again, halving compared to Monday's high. The company officially joined the Stock Connect list on Monday.

NIO Inc. (02635) fell by over 14% again, hitting a low of 39.18 Hong Kong dollars during trading, which is a halving from its high of 83.2 Hong Kong dollars on Monday. As of the time of writing, it has fallen by 13.79% to 39.4 Hong Kong dollars, with a trading volume of 86.3069 million Hong Kong dollars. In terms of news, NIO Inc. was added to the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect lists starting from April 20 (this Monday). NIO Inc.'s 2025 performance shows a 23.7% year-on-year increase in revenue, but a mere 2.1% increase in net profit attributable to shareholders, with profit growth significantly lower than revenue growth. Factors such as an increase in low-margin businesses and rising costs of smart hardware have weakened the stability of profitability, leading to concerns about the company's ability to deliver on its performance.