Nio (NYSE:NIO) provided an update on its status under the Holding Foreign Companies Accountable Act amid the increased focus on Chinese companies listed on U.S exchanges.
The electric vehicle maker said it is aware that the company has been provisionally identified by the SEC under the HFCAA and understands that it may be a result of the auditor used for its filing of the annual report on Form 20-F.
Nio (NIO) said it has been actively exploring possible solutions to protect the interest of its stakeholders, including a secondary listing of its Class A ordinary shares on the Hong Kong Stock Exchange.
The company reiterated that it will continue to comply with applicable laws and regulations in both China and the United States. Nio (NIO) aims to maintain its listing status on both the NYSE and the HKEX in compliance with applicable listing rules.
Shares of Nio (NIO) fell 3.20% in premarket trading to $17.55.
Read about the other companies at risk of SEC delisting.