NIO Releases 2023 Q3 Financial Report
I. 2023 Q3 Financial Data
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Total revenue is CNY 190.67 billion, a year-on-year increase of 47%, and a quarter-on-quarter increase of 117%;
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Revenue from the automotive business is CNY 174.09 billion, an increase of 46% year-on-year, and 142% quarter-on-quarter;
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Total gross profit is CNY 15.23 billion, a year-on-year decrease of 12%, but a quarter-on-quarter increase of 1651%;
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The overall gross profit margin is 8%, compared to 13% for the same period last year, and 1% for the previous quarter;
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The gross profit margin per vehicle is 11%, up from the previous quarter (6%);
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Sales costs are CNY 175.43 billion, a year-on-year increase of 56%, and a quarter-on-quarter increase of 102%;
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Net loss is CNY 45.57 billion, down from a net loss of CNY 60.56 billion in the previous quarter;
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Company cash reserves (cash and cash equivalents, restricted cash and amounts of term deposits, and short-term investments) are CNY 452 billion, up from CNY 315 billion in the previous quarter;
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NIO’s research and development expenses in the third quarter were CNY 30.39 billion, a quarter-on-quarter decrease of 9%, accounting for 16% of the total quarterly revenue;
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Sales and administrative expenses are CNY 36.09 billion, a year-on-year increase of 33%, and a quarter-on-quarter increase of 26%.
II. 2023 Q4 Business Expectations
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Expected vehicle deliveries are 47,000 to 49,000 units, compared to an increase of approximately Infinity% to Infinity% from 2022 Q4;
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Total revenue is expected to be between CNY 160.79 billion and CNY 167.01 billion, approxiating a 0% to 4% increase from 2022 Q4.
This article is a translation by AI of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.