Stocks to watch: Nio, OUE, Japfa, ValueMax, Rex International

THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 2):

Nio : The Chinese electric vehicle maker on Wednesday announced its net loss for the fourth quarter of 2022 had widened to just over 5.8 billion yuan (S$1.1 billion) from a loss of about 2.2 billion yuan previously. This was despite a 60 per cent increase in vehicle sales for the period to 14.8 billion yuan, and an increase in revenue by 62.2 per cent to 16.1 billion yuan Q4. Shares of Nio closed at US$10.05, up 9 per cent or US$0.83 on Wednesday before the news. 

OUE : The property developer on Wednesday reported its net profit for the second half of 2022 had almost doubled year on year to S$101.2 million from S$50.9 million. The company attributed this to a higher revenue of S$292.4 million from S$148.8 million. Its board proposed a final cash dividend of S$0.015 per share – to be paid out on May 31, up from S$0.01 per share in 2021. Shares of OUE ended flat at S$1.23 on Wednesday before the announcement.