Original title: “Breaking up” with Gaolin Capital, the third largest shareholder in the past, NIO is still making every effort to “survive” Source: 36Krypton

Gao Lin Capital, the former third largest shareholder of automobiles, officially “broke up” with it by clearing its inventory.

On February 15, the documents submitted by Hillhouse Capital to the US Securities and Exchange Commission (SEC) showed that as of December 31, 2019, Hillhouse Capital no longer holds NIO Auto shares. In response to this, a NIO executive responded to Zhongxin Jingwei: “This is a normal phenomenon. A business is a business, and the investor's thoughts are understandable.”

From the primary market to the secondary market, Gao Lin Capital has always been an important investor in NIO.

In 2015, in NIO Auto's Series A financing, Hillhouse Capital led the investment of US$100 million. In NIO's subsequent Series C and Series C+ strategic financing, Hillhouse Capital chose to continue to follow suit. In September 2018, NIO Auto officially listed on the New York Stock Exchange. Hillhouse Capital held 7.5% of the shares, becoming NIO's third largest shareholder.

After going public, Hillhouse Capital's enthusiasm for NIO Auto continued unabated. On January 30, 2019, NIO Auto announced the issuance of $650 million convertible bonds, of which $30 million was purchased by Hillhouse Capital. According to information disclosed by Hillhouse Capital in the second quarter of last year, Gao Lin had increased his holdings of NIO Auto to 41.9383 million shares at the time.

However, entering the third quarter, Hillhouse Capital has reduced its holdings of NIO to 13.3689 million shares, reducing its holdings by 68%. At the same time that NIO was cleared at the end of 2019, Gao Lin Capital also cleared the stock