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CICC Drops NIO-SW TP to HKD48, Lowers Full-Yr Non-GAAP NP Forecast to RMB750M
2026-09-02 16:14:44
CICC issued a report covering NIO-SW (09866.HK)(NIO.US), of which 2Q results met the broker's expectations. Owing to intense market competition and stable 3Q sales QoQ, the broker trimmed its 2026/2027 non-GAAP net profit forecasts to RMB750 million/RMB4 billion, from the previous RMB3.7 billion/RMB7.7 billion.

Considering the earnings forecast adjustments but improved share in the premium market, the broker cut its TP for H shares/ US shares by 22%/ 22% to HKD48/ USD6.3, while maintaining an Outperform rating.
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