Sina science and technology news, early in the morning on June 28, Beijing time, Wei Lai Auto (NIO. N) fell 2.2%, and short selling agency Grizzly Research released a report saying that Weilai reached its goal by exaggerating revenue and improving net profit margin.
Grizzly said that Weilai Automobile is likely to use an unconsolidated related party to exaggerate its income and profitability. This unconsolidated related party, Wuhan Weineng, has created billions of dollars in revenue for Weilai Automobile.
