NIO's Q3 revenue increased by 46.6%, and it successfully acquired Jianghuai Automobile assets for 3.16 billion yuan

According to news from this site on December 5, NIO has now announced its third quarter financial report for 2023. NIO’s Q3 revenue was 19.0666 billion yuan, compared with 13 billion yuan in the same period last year, and market expectations were 19.373 billion yuan.

In the third quarter of 2023, car sales were 55,432 units, including 37,585 high-end smart electric SUVs and 17,847 high-end smart electric sedans. The third quarter of 2023 increased by 75.4% and increased by 135.7% from the second quarter of 2023.

NIO delivered 16,074 vehicles in October and 15,959 vehicles in November. As of November 30, 2023, NIO’s cumulative delivery volume reached 431,582 vehicles

##Mainly Operating resultsQuarterly23Q323Q223Q122Q4Delivery55,43223,52031,04140,0522023 Third Quarter Financial Report Highlights

• Vehicle sales revenue reached RMB 17.4089 billion in the third quarter of 2023, an increase of 45.9% compared with the same period in 2022, and the second largest increase from the same period in 2023. Quarterly growth of 142.3%

• 2. Vehicle margin was 11.0%, compared with 16.4% in the third quarter of 2022 and 6.2% in the second quarter of 2023.

• Total revenue in the third quarter was 19.0666 billion yuan, an increase of 46.6% compared with the third quarter of 2022, and an increase of 117.4% compared with the second quarter of 2023

• Gross profit was 15.233 billion yuan, a decrease of 12.2% compared with the third quarter of 2022, and an increase of 1,650.9% compared with the second quarter of 2023

• 5. Gross profit margin The gross profit margin was 8.0%, compared with 13.3% in the third quarter of 2022 and 1.0% in the second quarter of 2023.

• 6. Operating loss was 4.8439 billion yuan, an increase of 25.2% from the third quarter of 2022 and a decrease of 20.3% from the second quarter of 2023. The operating loss after excluding equity incentive expenses was 4.2404 billion yuan, an increase of 30.1% from the third quarter of last year and a decrease of 22.4% from the second quarter of this year.

• 7. Net loss was 4.5567 billion yuan, an increase of 10.8% from the third quarter of 2022 and a decrease of 24.8% from the second quarter of 2023. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) in the third quarter of 2023 was RMB 3,953.2 million, an increase of 13.0% from the third quarter of 2022 and a decrease of 27.4% from the second quarter of 2023.

As of September 30, cash and cash equivalents, restricted cash, short-term investments and long-term deposits totaled 45.2 billion yuan. It can be rewritten as: As of September 30, the company’s total funds were 45.2 billion yuan, including cash, cash equivalents, restricted cash, short-term investments and long-term deposits

In addition, Weilai also announced an investment of 3.16 billion yuan. Yuan acquired some manufacturing equipment and assets of Anhui Jianghuai Automobile Group Co., Ltd. ("JAC"), which is consistent with previous JAC announcements.

After the financial report was released, NIO’s stock fell nearly 4% before the U.S. stock market opened, but it had rebounded to -0.27% as of the time of publication

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