Recently, the news of the Singapore Government Investment Corporation (GIC) suing NIO has attracted market attention. Public information shows that this lawsuit is not based on NIO's recent business trends, but rather stems from a short selling report released by Grizzly Research on NIO in June 2022. In response to the allegations made by the Grizzlies at that time, NIO had issued a statement stating that after an independent third-party investigation, no misconduct was found and all allegations were unfounded. A research report from Deutsche Bank stated, "Grizzlies' concerns about NIO's battery asset management business are unfounded, and elements of the business model have been severely misunderstood
Public information shows that this is not the first time GIC has filed a lawsuit against a listed company. Previously, GIC filed lawsuits against multiple multinational corporations such as Qualcomm, Merck, Newgene Pharmaceuticals, Wistron Technologies, and BP, alleging that their actions resulted in losses to their investments. An investment analyst pointed out that GIC's behavior has a dual purpose: firstly, financial appeals; The second is a part of risk management strategy, which involves hedging potential investment losses through legal means during market volatility periods.
According to the Lianhe Zaobao, by the end of March 2025, GIC's 20-year annualized real return rate was 3.8%, lower than 4% for two consecutive years, the lowest level since fiscal year 2020.
