NIO surged in early Hong Kong trading today as the city's stock market resumed trading Friday after being suspended by a typhoon。

NIO (NYSE: NIO) surged in early Hong Kong trading today after beating second-quarter earnings expectations, and Hong Kong shares resumed trading Friday after being suspended due to a typhoon.。

Weilai shares up 13 as of press time.93%, to 38.HK $85, biggest intraday gain since May 2。

NIO's performance in the U.S. market sent it up, and the electric vehicle (EV) maker's American depositary shares rose 14.39%, up 3 further on Friday.51%。

Weilai reported stronger-than-expected second-quarter results and gave strong guidance on third-quarter deliveries before U.S. stocks opened last Thursday。

Hong Kong stocks closed all day Friday due to super typhoon Yagi。

Weilai's second-quarter revenue c revenue was 174.Rmb4.6bn ($2.4bn), better than analysts' expectations of 17.3.8.5 billion yuan。

Year-over-year growth of 98.89%, up 76.07%, also exceeding the upper limit of the guidance range 165.900 million to 171.400 million yuan。

Company's second quarter net loss 50.500 million yuan, down 16.7%, down 2.7%。

Gross margin for the second quarter was 9.7%, higher than analysts expected 8.736%, the highest level since the third quarter of 2022。Gross margin for the second quarter of 2023 was 1.0%, first quarter gross margin of 4.9% Quarterly 2024。

NIO expects to deliver a record 61,000 to 63,000 vehicles in the third quarter, up about 10% to 13.7%。

The guidance means that deliveries in September are expected to be between 20,326 and 22,326 vehicles, taking into account deliveries of 20,498 and 20,176 vehicles in the past two months.。

NIO's management stated on the earnings call that the sub-brand Onvo will officially launch its first model L60 SUV (sport utility vehicle) on September 19, and it is expected to deliver 20,000 vehicles this year.。

The Onvo L60 aims to deliver 10,000 units in December and hopes to reach a monthly delivery of 20,000 units sometime in 2025, according to NIO management.。