Stocks to watch: Nio, Sembcorp

THE following companies saw new developments that may affect trading of their securities on Friday (Jun 7):

Nio : The Shanghai-based electric vehicle (EV) maker’s adjusted net loss widened by 18.1 per cent to 4.9 billion yuan (S$911.7 million) in the first fiscal quarter. This comes amid an increase in competition in the EV market, said the group on Thursday. Its shares ended 0.6 per cent, or US$0.03 lower at US$5.29, before the news.

Sembcorp : The group on Thursday announced it was working with US fuel cell provider Bloom Energy on the “potential utilisation” of Bloom’s low-carbon power generation technologies in Singapore. Shares of Sembcorp closed 0.6 per cent, or S$0.03 lower at S$5.06, before the announcement. Earlier that day, the group also said it signed an in-principle agreement with listed Japanese corporates Sojitz Corporation and Kyushu Electric Power for green ammonia offtake.