NIO Accused of Inflating Net Income by 95%, CEO's Close Rela…

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BEIJING, June 28 (TMTPOST)— The U.S.-listed shares of NIO Inc sank as much as 4% in Tuesday’s early trading following a short report’s accusing the Chinese electric vehicle (EV) maker of accounting fraud.Source: Visual ChinaIn a short seller report titled “We Believe NIO Plays Valeant-esque Accounting Games to Inflate Revenue and Boost Net Income Margins to Meet Targets”, Grizzly Researc