Stocks to watch: Nio, CapitaLand China Trust, Cordlife, Oiltek International

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 6):

Nio : Electric vehicle player sank deeper into the red with a net loss of 4.6 billion yuan (S$868.7 million) for the third quarter of FY2023. This translates into a 2.67 yuan loss per share (LPS), compared with a 2.53 yuan LPS in the same period last financial year. Higher sales and operating costs led to the widened loss, despite Nio having made 75.4 per cent more deliveries, or 55,432 vehicles in total, in the third quarter. Shares of Nio closed 1 per cent or US$0.07 higher at US$7.19 on Tuesday, before the results update.

CapitaLand China Trust (CLCT): The China-focused real estate investment trust is selling CapitaMall Shuangjing in Beijing, which has been part of its initial public offering portfolio since 2006, for 842 million yuan (S$157.8 million). This represents an exit yield of 2.8 per cent and is expected to enhance returns to CLCT unitholders, said its manager on Wednesday. Units of CLCT closed on Tuesday S$0.01 or 1.2 per cent lower at S$0.835.