NIO Financial Report: NIO's revenue in Q3 2023 was 19.07 billion yuan, a year-on-year increase of 46.6%

NIO released its third quarter financial report for 2023. The report shows that NIO's revenue in the third quarter was 19.07 billion yuan, a year-on-year increase of 46.6% and a month-on-month increase of 117.4%, a record high; net loss was 4.557 billion yuan, a year-on-year increase of 10.8%, but a month-on-month decrease of 24.8%. At the same time, NIO's third-quarter vehicle gross profit margin was 11.0%, a significant increase from the previous quarter; R&D expenditure was 3.04 billion yuan; cash reserves were 45.2 billion yuan, an increase of 13.7 billion yuan from the previous quarter.

In terms of delivery, NIO delivered 55,432 new cars in the third quarter, a month-on-month increase of 135.7% and a year-on-year increase of 75.4%. For the fourth quarter delivery expectations, NIO expects Q4 new car deliveries to be 47,000 to 49,000.

In addition, NIO issued an announcement on the Hong Kong Stock Exchange today stating that the company has signed a definitive agreement with Anhui Jianghuai Automobile Group Co., Ltd. to acquire certain production equipment and assets.

According to these definitive agreements, NIO will acquire the production equipment and assets of the First Advanced Manufacturing Base and the Second Advanced Manufacturing Base from JAC, with a total price of approximately RMB 3.16 billion excluding tax.

It is reported that this time NIO acquired the NIO F1 factory and NIO F2 factory jointly developed by JAC and NIO. After the acquisition, NIO also obtained the qualifications to manufacture cars independently.

From TechWeb