Key figures for the fourth quarter are as follows:
Fourth quarter:
NIO's revenue was RMB 17.10 billion, up 6.5% year on year; the gross profit margin of the vehicle was 11.9%, reaching double digits for two consecutive quarters;
Cash reserves of 57.3 billion yuan, a significant increase of 12.1 billion yuan over the previous quarter;
R&D expenditure was 3.97 billion yuan, exceeding 3 billion yuan for five consecutive quarters;
FULL YEAR 2023:
In 2023, NIO's total revenue reached a record high of 55.62 billion yuan, an increase of 12.9% over the previous year;
The annual R&D expenditure was 13.43 billion yuan, surpassing 10 billion for two consecutive years.
Looking to the future:
For the first quarter of 2024, the company expects:
Vehicle deliveries ranged from 31,000 to 33,000 units, an increase of about 6.3% over the same quarter of 2023.
Total revenue is expected to be between RMB 10.499 billion (US$1,479 million) and RMB 11.087 billion (US$1,562 billion), a decrease of about 1.7% to an increase of about 3.8% from the same quarter of 2023.

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