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NIO EP9 Autonomous Electric Vehicle.
Linta Zhang / Getty Images
On Wednesday, the House of Representatives unanimously passed a bill that would set the stage for listing Chinese companies on U.S. exchanges, including electric vehicle manufacturers.
Expang,
And
Li Auto Toe.
NIO
(Ticker: NIO) Other high-value U.S. The listed Chinese EV player believes it complies with the new law, the spokesman said.
U.S. All foreign companies with stock listings have a U.S. three-year window. Audit Oversight rules must be followed. Li Auto Toe (LI) Prospectus explains the point: “The audit report contained in this prospectus is prepared by an auditor who is not inspected by PCAOB and, as such, our investors are deprived of the benefit of such inspection.” PCAOB is a public company accounting oversight board. “In addition, the adoption of any rules, regulations, or other attempt to increase U.S. regulatory increase access to audit information may create uncertainty, and we will be notified if we fail to meet the PCAOB requirement in a timely manner.”
That language was included in Lina’s December 2 Securities and Exchange Commission filing. The same language is part of filing XPeng and NIO SEC from PGust.
U.S. No. All three listed Chinese EV stocks are reacting to the hourly trading, moving lower, but the decline is less than the recent gain. The muted reaction seems to indicate that investors expect to work over time.
NIO stock (ticker: NIO) is down about 2.8% after hours of trading. XPeng Shares (XPEV) is down 3%. Li Auto Toe Share (LI) is down 0.7%.
Investors may be surprised to see the stock fall, NIO believes it is consistent. That situation appears. An NIO spokesperson responded to the emailed statement Of the Baron Saying that NIO is aware of the situation and it has become relevant in the last few months.
Representatives of Xpeng and Lena were not immediately available for comment.
Investors will pay more attention to all three companies. Chinese EV players only have U.S. There is a stock listing. Other Chinese companies, potentially affected by the bill, are listed in multiple jurisdictions, with President Trump expected to sign the law. Which gives other companies a little more flexibility. Still, all companies have a long way to go.
U.S. Most of the research analysts covering the three Chinese EV stocks listed are based in Hong Kong or China and have not yet written on the issue. Investors should expect updates in the coming days.
Chinese EV stocks have been investors’ favorites so far in 2020. The three stocks have risen an average of 133% over the past three months, crushing comparable returns.
S&P 500
And
Dow Jones Industrial Average.
Write to Al Route at [email protected]
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