Revenue of 16.064 billion with a gross profit margin of 4% was released by NIO in the Q4 financial report for 2022.

NIO releases 2022Q4 financial report

1. Financial Data for 2022Q4

  • Total revenue of RMB 16.064 billion, a year-on-year increase of 62.2% and a quarter-on-quarter increase of 23.5%;

  • Quarterly delivery of 40,052 vehicles, a year-on-year increase of 60.0% and a quarter-on-quarter increase of 26.7%;

  • Automotive business revenue of RMB 14.759 billion, a year-on-year increase of 60.2% and a quarter-on-quarter increase of 23.7%;

  • Total gross profit for the quarter was RMB 622 million, a year-on-year decrease of 63.4% and a quarter-on-quarter decrease of 64.2%;

  • Gross margin for the fourth quarter was 3.9%, compared to 17.2% in 2021Q4 and 13.3% in 2022Q3;

  • Single car gross profit margin was 7%, a decrease from the previous quarter (16%);

  • Sales cost was RMB 15.442 billion, a year-on-year increase of 88% and a quarter-on-quarter increase of 37%;

  • Net loss was RMB 5.786 billion, compared to RMB 4.111 billion net loss in the previous quarter;

  • The company’s cash reserve (cash and cash equivalents, restricted cash, and balances of short-term deposits and short-term investments) was RMB 45.5 billion, compared to RMB 51.4 billion in the previous quarter;

  • NIO’s R&D expenses in the fourth quarter were RMB 3.9806 billion, a quarter-on-quarter increase of 35.2%;

  • Selling and administrative expenses were RMB 3.527 billion, a year-on-year increase of 50% and a quarter-on-quarter increase of 30%.

2. Business Expectations for 2023Q1

  • NIO expects to achieve a delivery volume between 31,000 and 33,000 vehicles in the first quarter of 2023, a year-on-year increase of approximately 20.3% to 28.1%;

  • The expected total revenue for the first quarter of 2023 will be between RMB 10.926 billion and RMB 11.543 billion, a year-on-year increase of approximately 10.2% to 16.5%.

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.