0748 GMT - Daiwa cuts its full-year earnings forecast for Chinese automaker NIO after its weaker-than-expected 1Q results. Analyst Kelvin Lau revisits the financial model for the company and raises the 2025 net loss forecast to CNY12.4 billion from CNY11 billion projected earlier. Daiwa expects the net loss to narrow to CNY275 million in 2026, versus an earlier projection of CNY7.8 billion. NIO's operating loss may significantly narrow in 2Q, thanks to higher sales volume and lower operational costs, he says in a note. Investors will be watching the sales volume of its Onvo L60 model. Daiwa maintains its buy rating but cuts NIO's ADRs target price to $8.10 from $10.00. The ADRs last closed at $3.75.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
June 05, 2025 03:48 ET (07:48 GMT)
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