(Yicai Global) Aug. 19 -- Chinese new energy vehicle startup Nio has refuted rumors circulating on Chinese social media about closing its Silicon Valley office, as well as plans to get listed on Shanghai's new Star Market.
Nio's US office is running as usual and the firm is not currently planning to conduct an initial public offering on the Star Market, the Shanghai-headquartered company said in a statement on its Weibo account today. Star Market is China's Nasdaq-style tech board that began trading in July.
A user of self-media application Dafenghao posted an article claiming that Nio had already closed its Silicon Valley unit while contemplating on returning to Chinese stock markets. Nio [NYSE: NIO] got listed in the US last September. The stock price rose 4.6 percent to USD2.95 yesterday.
In the first quarter, Nio had a net loss of CNY2.6 billion (USD369 million), according to its financial report. Earlier this month, the firm's President Qin Lihong hinted about 1,000 layoffs globally, citing "local optimization to improve operational efficiency."
Editor: Emmi Laine