NIO releases 2022Q4 financial report
1. Financial Data for 2022Q4
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Total revenue of RMB 16.064 billion, a year-on-year increase of 62.2% and a quarter-on-quarter increase of 23.5%;
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Quarterly delivery of 40,052 vehicles, a year-on-year increase of 60.0% and a quarter-on-quarter increase of 26.7%;
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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%;
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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%;
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Gross margin for the fourth quarter was 3.9%, compared to 17.2% in 2021Q4 and 13.3% in 2022Q3;
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Single car gross profit margin was 7%, a decrease from the previous quarter (16%);
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Sales cost was RMB 15.442 billion, a year-on-year increase of 88% and a quarter-on-quarter increase of 37%;
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Net loss was RMB 5.786 billion, compared to RMB 4.111 billion net loss in the previous quarter;
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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;
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NIO’s R&D expenses in the fourth quarter were RMB 3.9806 billion, a quarter-on-quarter increase of 35.2%;
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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
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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%;
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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.