On August 20, NIO-SW rose 4.37% at open, trading at HK$36.3/share, with turnover of HK$1.7498 million. The gain was driven by a broad auto sector rebound and continued positive sentiment surrounding NIO Energy's light-asset battery swap expansion model.

On the news front, NIO Energy's 'national capital partners holding assets + NIO professional operation' model has fully launched in Wuhan and been announced for nationwide rollout. This model reduces single-station investment pressure to approximately 40% of the self-build approach. NIO has partnered with over 40 local state-owned capital platforms, operating more than 800 battery swap stations under this framework. Additionally, Chery Auto recently invested in NIO's subsidiary Wiju Technology, with registered capital increasing to RMB 725 million, signaling growing industry endorsement of NIO's swap network.

The previous trading day, NIO fell 3.14% amid a sector-wide pullback and short-term profit-taking, making today's move partly a technical recovery. Within the Automobile Manufacturers sector, LI AUTO-W rose 4.34%, XPENG-W rose 2.31%, GWMOTOR rose 1.38%, BYD COMPANY rose 1.34%, and GEELY AUTO rose 1.23%.

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