Nio rose about 6 percent to an intra-day high of HK$169.50 at one point in early trading in Hong Kong today, but the gains narrowed after that.
Nio successfully listed in Hong Kong today, and its shares closed essentially flat on the first trading day.
By the close of the market, Nio (NYSE: NIO, HKG: 9866) was trading at HK$158.9 in Hong Kong, down a modest 0.69 percent from the opening price of HK$160.
Notably, Nio's ADRs traded in the US closed yesterday with a 12.18 percent jump to $20.17.
Nio was up about 6 percent to an intra-day high of HK$169.50 in early trading in Hong Kong today, but the gains narrowed after that.
The company's trading volume in Hong Kong today was 315,020 shares for HK$51.3 million.
Nio trades in Hong Kong under the ticker symbol 9866 and trades in board lots of 10 shares each.
The company's local peers Xpeng Motors (NYSE: XPEV, HKG: 9868) and Li Auto (NASDAQ: LI, HKG: 2015) are up 6.7 percent and 8.65 percent, respectively, in Hong Kong today. They jumped 10.28 percent and 13.99 percent, respectively, in the US stock market on Wednesday.
Nio is listed in Hong Kong on a secondary listing, unlike Xpeng and Li Auto, which both listed in Hong Kong last year on dual primary listings.
Nio's Hong Kong listing did not involve any new share issuance, so the shares held by investors were not diluted.
Nio and one of its largest shareholders, Tencent, will lend 41.4 million Class A ordinary shares to its designated dealer to facilitate the initial trading.
The move, which will provide investors with more choice of trading venues and more flexible trading hours, will help bring in more investors and is good for the company's long-term growth, Nio previously told CnEVPost.
Nio is now focusing its efforts on preparing for the delivery of its flagship sedan, the ET7, secluded at the end of this month, and is likely to officially announce the new SUV, the ES7, next month.
The company is currently allowing users and media to test drive the ET7, and CnEVPost has already experienced the sedan yesterday.
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