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NIO Inc | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Mar 5 07:42
Summary by Moomoo AI
NIO Inc., a leader in the premium smart electric vehicle market, reported its unaudited financial results for the fourth quarter and full year ended December 31, 2023. The company saw quarterly total revenues of RMB17.1 billion (US$2.4 billion) and annual revenues of RMB55.6 billion (US$7.8 billion). Quarterly vehicle deliveries stood at 50,045 units, marking a 25.0% increase from the same quarter in 2022, but a 9.7% decrease from the third quarter of 2023. Full-year vehicle deliveries reached 160,038 units, a 30.7% increase from 2022. The fourth quarter vehicle margin improved to 11.9% from 6.8% in the fourth quarter of 2022. However, the company reported a net loss of RMB5.4 billion (US$756.0 million) for the quarter, a 7.2% decrease from the fourth quarter of 2022. The full-year net loss increased by 43.5% to RMB20.7 billion (US$2.9 billion). NIO's...Show More
NIO Inc., a leader in the premium smart electric vehicle market, reported its unaudited financial results for the fourth quarter and full year ended December 31, 2023. The company saw quarterly total revenues of RMB17.1 billion (US$2.4 billion) and annual revenues of RMB55.6 billion (US$7.8 billion). Quarterly vehicle deliveries stood at 50,045 units, marking a 25.0% increase from the same quarter in 2022, but a 9.7% decrease from the third quarter of 2023. Full-year vehicle deliveries reached 160,038 units, a 30.7% increase from 2022. The fourth quarter vehicle margin improved to 11.9% from 6.8% in the fourth quarter of 2022. However, the company reported a net loss of RMB5.4 billion (US$756.0 million) for the quarter, a 7.2% decrease from the fourth quarter of 2022. The full-year net loss increased by 43.5% to RMB20.7 billion (US$2.9 billion). NIO's cash and cash equivalents, restricted cash, short-term investment, and long-term time deposits totaled RMB57.3 billion (US$8.1 billion) as of December 31, 2023. The company also highlighted strategic developments, including the launch of the ET9, a smart electric executive flagship, and a US$2.2 billion strategic equity investment from CYVN Investments RSC Ltd. For the first quarter of 2024, NIO expects vehicle deliveries to be between 31,000 and 33,000 units and total revenues to be between RMB10.5 billion (US$1.5 billion) and RMB11.1 billion (US$1.6 billion).

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