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Moo Earnings wrote a post · Aug 31, 2023 12:01

NIO Q2 2023 Earnings Note

[Rewards] NIO Q2 margins contracted continually, and revamped models began shipping
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NIO Q2 2023 Earnings Note
NIO Q2 2023 Earnings Note
KEY Figures:
● Q2 total revenues were US$1,209.7 million, representing a decrease of 14.8% YoY (year-on-year) and a decrease of 17.8% from the first quarter of 2023. Specifically, vehicle sales were US$990.9 million in this quarter.
● Vehicle deliveries were 23,520 in Q2 2023, consisting of 10,492 electric SUVs and 13,028 electric sedans, representing a decrease of 6.1% YoY and a decrease of 24.2% QoQ (quarter-on-quarter).
● Vehicle margin was 6.2% in Q2 2023, compared with 16.7% YoY and 5.1% in the first quarter of 2023.
● Net loss was US$835.1 million this quarter, representing an increase of 119.6% YoY and an increase of 27.8% QoQ. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was US$751 million in Q2 2023.
● For the Q3 FY23 Outlook, deliveries of vehicles are between 55,000 and 57,000, representing an increase of 74% to 80.3% YoY approximately.
● For the Q3 FY23 Outlook, total revenues are between US$2,606 million and US$2,692 million, representing an increase of 45.3% to 50.1% YoY approximately.
KEY Points:
● "Attributed to the product transition based on NT2.0 Platform, coupled with the expansion of our power network and the strengthening of our sales capabilities, we expect a solid growth in vehicle deliveries in H2 2023," said William Bin Li, the CEO of NIO.
● In July 2023, NIO closed the US$738.5 million strategic equity investment from CYVN Entities, demonstrating the company's value and strengthening its balance sheet.
● In June 2023, NIO launched the ET5T, an electric tourer, and started its deliveries the next day. With the volume ramp-up of new models, there might be beneficial changes in the future.
● NIO plans to launch its first self-developed smartphone in September, aiming to improve the appeal of its cars with better software and connectivity.
● The Chinese EV makers as a whole are experiencing pressure on margins, which could delay their break-even years.
More statistics:
NIO Q2 2023 Earnings Note
The KEY in your hands:
By August 30, 2023, NIO shares had increased more than 9% since the beginning of 2023, falling behind the S&P 500 (.SPX), which was up about 18% during the same period (Source: moomoo APP).
How do you see NIO currently? What's your opinion or analysis about it? Speak out with mooers and get inspired by sharing!
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Disclaimer
Comments above are made available for informational purposes only. Before investing, please consult a licensed professional. *Source of data: https://news.moomoo.com/notice/150149647; NIO's earnings conference call*  This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Before investing, please consult a licensed professional. See this link for more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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