Morgan Stanley released a research report stating that the chief financial officer of Nio Inc (NIO.US) (09866.HK), Wei Feng, resigned due to personal and family reasons. At the same time, Qu Yu, the senior vice president of finance, was promoted to the new chief financial officer.

According to Morgan Stanley, top management changes are rarely positive news, but the group's recent stable operation should help alleviate market concerns and prevent any panic market reactions. The bank expects that this change will not disrupt the company's current operations or future financing plans.

The bank also mentioned that Nio Inc's order volume has been stable at around 5,000 vehicles per week. With the improvement of the portfolio or scale, as well as the reduction of some model promotion activities, it is expected that the gross margin in the second quarter will reach the company's double-digit guidance. In addition, the Onvo L60 is still an important stock catalyst for the group.