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<Research>Deutsche Bank Adds NIO-SW (09866.HK) TP to $73.3, Rating Buy
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NIO-SW (09866.HK)'s subsidiary, GeniTech, secured over RMB2.2 billion investment from Chinese investors, Deutsche Bank released a research report saying. GeniTech primarily oversees NIO-SW's independently developed 'NX9031' intelligent driving chip business. Upon completion of the transaction, NIO-SW will retain a 62.7% controlling stake in GeniTech, allowing its financial results continue to be consolidated into NIO-SW's consolidated financial statements. New investors will collectively hold a 27.3% equity stake, while the remaining 10% will be allocated to the employee stock option plan (ESOP). Considering the reduced financial expense thanks to the RMB2.257 billion cash inflow, the broker lowered its 2026 net loss forecast for NIO-SW by 0.9%, resulting in a lift in its target price from $72 to $73.3 based on discounted cash flow method, with rating at Buy. AAStocks Financial News Website: www.aastocks.com |
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