GIC vs NIO: a wake-up call on Chinese company reporting

It was a blow to an industry whose rise had seemed inexorable. On October 16, Singapore’s sovereign wealth fund, GIC, announced that it would sue China’s NIO, an electric vehicle (EV) maker, over allegedly fraudulent accounting practices. That same day, NIO’s shares tumbled by a dramatic 13.8%. While they have partially rebounded since, the coming
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