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NIO-SW: Rumormongers Placed Under Administrative Detention
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NIO-SW (09866.HK) (NIO.US)’s legal department said that it had received report yesterday (27th) regarding malicious rumors spreading online about NIO’s capital market. After in-depth investigations by public security in several places, the authorities swiftly identified and controlled a number of people involved in the rumors, who deliberately fabricated and disseminated rumors. The relevant people were detained by the public security.

NIO indicated that it will continue to cooperate with the public security in their investigation and will not rule out the possibility of taking the relevant parties to court in order to protect its legitimate rights and interests.

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A rumor that BYD COMPANY (01211.HK) will acquire NIO went viral online. The Hefei Public Security Bureau said last night that the rumor was spread by a 29-year-old man surnamed Xie, who synthesized untrue pictures using AI software in order to increase the popularity of his self-media account and to gain traffic. The people who spread the rumors has been placed under administrative detention by the authorities in accordance with the law.
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