The shareholders of Nio (Anhui) Holdings Ltd. have changed, with Anhui High-tech Industry Investment Co., Ltd. withdrawing and Anhui Sanzhong Yichuang Industrial Development Fund Co., Ltd. becoming a new shareholder, taking over a 2.756 percent stake in Nio (Anhui), according to the National Enterprise Credit Information System.

Nio sources told caijing.com.cn that Anhui Sanzhong Yichuang Industrial Development Fund is the designated investor of Anhui High-tech Industry Investment.

Anhui High-tech Industry Investment and Anhui Sanzhong Yichuang Industrial Development Fund are both wholly-owned subsidiaries of Anhui Provincial Investment Group Holdings Limited. Anhui Investment Group Holdings Ltd. is 100% owned by Anhui State-owned Assets Supervision and Administration Commission.

Nio (Anhui) was established in 2018, formerly known as Anhui Weirui Auto Sales & Service Co. Ltd. when it was a wholly-owned subsidiary of Nio with a registered capital of 10 million yuan.

Since March this year, Nio (Anhui) Company has undergone several changes in its registered capital, total investment, investors, senior management, and type of market entities.

In April, Anhui Weirui Auto Sales & Service Co., Ltd. changed its name to Nio (Anhui) Company, and the shareholders were changed to Nio User Enterprise Limited and Nio Nextev Limited, each holding 50% of the shares.

The business scope of the company was expanded to include assisting or acting as an agent for its investee enterprises in procuring machinery, equipment, office equipment and materials, components and parts for production from home and abroad, selling products manufactured by its investee enterprises at home and abroad, providing after-sales service and providing technical support to its investee enterprises in the process of production, sales and market development.