NIO Q1 Revenue Declines 7.2% YoY, Exceeds Expectations; NIO Energy Plans Independent Financing

NIO 1Q revenue 9.91 billion yuan, Est. 10.75 bulb yuan
1Q adjusted loss per share 33 cents
1Q gross margin 4.9%, Est.4.75%
Expects 2Q deliveries 54,000-56,000, Est. 41,310.

NIO stated that the next phase focuses on optimizing gross margins while maintaining sales. NIO Energy is planning independent financing and will continue to open for investment. By year-end, NIO aims to provide over 1,000 battery swap stations for users.