On October 16, Nio's Hong Kong shares once fell by more than 13%, while its US shares plunged over 10% during after-hours trading. In terms of developments, GIC, Singapore’s sovereign wealth fund, has filed a lawsuit against Nio in a US court, accusing the company of alleged securities fraud. Nio responded that this lawsuit is not based on its recent operational updates but stems from a short-selling report released by Grizzly Research in June 2022. At that time, Nio issued a statement calling the report baseless and riddled with errors. Will this lawsuit, originating from allegations made three years ago, cause Nio to 'capsize'? What kind of chain reaction will it have on Chinese stocks listed in the US?