Sale of security business

1/16/2013 1:33 AM EST

Nio Inc. has completed the sale of its security 
business, ref. announcement on January 2, 2013.  The 
buyer has conducted a due diligence of the security 
business and the board has approved the agreement. 
The transaction will be effective as of December 31, 
2012. 

The security business has not been profitable in 
recent years, and generated less than two percent of 
Nio's revenues. A disposal of the business unit is 
in  line with the Company's  transformation process, 
and  will avoid further negative effects on earnings 
going forward.

As a result of the divestment of the security 
business, Mr. Bjarne Støtvig will resign as board 
member in Nio Inc. with effect as of today. Mr. 
Støtvig has served as board member for Nio since 
2008, and has been mainly involved with the security 
business. The remaining board members wish to express 
their deep appreciation of Mr. Støtvig's contribution 
to the Company. 

For more information, please contact: Brian Palm 
Svaneeng Mertz, CEO, Tel: +45 2390 3300.

About Nio Inc.
Nio Inc. has two primary business areas; internet 
auctions and online gaming. Nio owns and operates 
Internet auction sites which offers an unique and 
entertaining way to shop on the Internet, and the 
gaming site Panda365.com. Nio Inc. is a US company 
with more than 150 employees with its headquarter in 
Oslo, Norway. Nio is listed on the Oslo Stock 
Exchange (ticker: NIO).