$NIO(NIO.US)On August 26, Morgan Stanley published a research report stating that Nio-SW (NIO.US) has risen more than 90% since its June low, while the Hang Seng Index rose 9% during the same period. Nio has strong ES8 orders, and although the real demand still depends on order conversion, the positive response supports market confidence, indicating that the group's monthly sales may reach 40,000 to 50,000 units starting from October. In addition, market sentiment has shifted. Although there is still debate about the sustainability of Nio's recovery, investors are now more focused on the models to be launched in 2026 rather than execution risks.