Nio Inc (NIO)

[JohnSamuel]

Yes, correct, but: "The startup, is backed by Chinese internet giant Tencent Holdings Ltd. 0700, -1.92% , had to contend with a difficult market environment in launching its initial public offering. Shares in rival car makers have slumped and Chinese stocks have been buffeted by concerns about growth, trade and currency weakness." Tencent Holding is said to own approximately 12% of the companies shares.

So, the bottom line is, only 160 million shares were sold in the IPO. The balance of shares, approximately 600 million shares are held by the company, other large shareholders and approximately 12% of the 600 million by Tencent Holdings.

In my opinion, Tencent did not buy in on a whim. They are too successful a
company to sink this much of an investment into a "loser".
Those making light of Nio do not understand its potential and in the long run I think Nio will do quite well, not only in China, but elsewhere.

All is just my opinion. BTW take a look at Tencent Holdings Ltd.

Tencent
Multinational conglomerate company
Image result for tencent holding
Tencent Holdings Limited is a Chinese multinational investment holding conglomerate founded in 1998, whose subsidiaries specialise in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally. Wikipedia
Stock price: TCTZF (OTCMKTS) $40.20 -0.95 (-2.31%)
Oct 2, 4:00 PM EDT - Disclaimer
Headquarters: Shenzhen, China
Revenue: 237.8 billion CNY (2017)
Subsidiaries: Tencent Games, Epic Games, Riot Games, Supercell, MORE
Founders: Ma Huateng, Xu Chenye, Zeng Liqing
Did you know: Tencent is the world's sixth-largest internet company by revenue. wikipedia.org