Stocks to watch: Nio, Yangzijiang Financial, Lendlease Global Commercial Reit, mm2 Asia

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 2):  

Nio: The electric vehicle maker delivered 24,925 vehicles in June, an increase of 17.5 per cent from the year-ago period, it said on Tuesday in an update on its second-quarter delivery. These consisted of 14,593 vehicles from its premium smart electric vehicle brand Nio, 6,400 vehicles from its family-oriented smart electric vehicle brand Onvo, and 3,932 vehicles from its small smart high-end electric car brand Firefly. For the three months ended June, it delivered 72,056 vehicles, an increase of 25.6 per cent on the year. Its shares ended Tuesday 0.3 per cent or US$0.01 higher at US$3.54 on the Singapore Exchange.

Yangzijiang Financial: The group released an update on Wednesday that its proposed spin-off company Yangzijiang (YZJ) Maritime Development has been incorporated as a wholly owned subsidiary in Singapore. The incorporation took place on Apr 28 this year, at an issued and paid-up share capital of US$100, comprising 100 ordinary shares issued at US$1 per share. This subsidiary currently serves as a holding company of YZJ Financial, and the company presently owns the entire share capital in YZJ Maritime. The counter closed 1.4 per cent or S$0.01 higher at S$0.75 on Tuesday.

Lendlease Global Commercial Reit; mm2 Asia: The real estate investment trust (Reit) on Tuesday issued a statutory demand seeking S$3.4 million in rent arrears from Cathay Cineplexes, the struggling cinema chain operated by mm2 Asia. Cathay ceased its Jem operations in March. The payment is to be made by Jul 22 and Cathay Cineplexes is seeking legal advice over the matter, the entertainment company said on Wednesday. Units of the Reit finished Tuesday 1 per cent or S$0.005 higher at S$0.525; shares of mm2 Asia closed 14.3 per cent or S$0.001 higher at S$0.008.