We, the undersigned retail and institutional investors, respectfully request that the relevant financial regulators, including the U.S. Securities and Exchange Commission and other applicable market oversight bodies, conduct a formal review into the trading activity surrounding NIO Inc. stock.

Over an extended period, many investors have observed what they believe to be unusual and potentially concerning trading patterns involving NIO shares. These concerns include, but are not limited to:

- Persistent downward price pressure despite company developments and delivery growth
- Significant short-selling activity and abnormal trading volume
- Large intraday price swings inconsistent with broader market conditions
- Potential use of dark pool trading and algorithmic trading practices that may disadvantage retail investors
- Repeated periods where investor sentiment and company fundamentals appear disconnected from market performance

We are not making direct accusations of illegal conduct by any specific individual or institution. However, we believe these trading patterns warrant independent review to ensure market transparency, fairness, and compliance with securities laws.

We respectfully request that regulators:

1. Review short-selling activity and reporting transparency related to NIO stock  
2. Examine trading data for evidence of coordinated or manipulative practices  
3. Investigate unusual off-exchange and dark pool trading activity  
4. Ensure all market participants are operating within applicable securities regulations  
5. Provide greater transparency to retail investors regarding market structure and order flow practices affecting the stock

Retail investors deserve confidence that markets operate fairly and transparently for all participants, regardless of size or institutional influence.

By signing this petition, we call for a transparent review of the trading activity surrounding NIO Inc. in order to protect investor confidence and uphold the integrity of public financial markets.