NIO receives another “blood transfusion” December 26, 2024 1...

NIO receives another “blood transfusion”
December 26, 2024 16:01 NetEase News
According to the industrial and commercial information, on December 26, NIO Holdings Co., Ltd. underwent industrial and commercial changes, and its registered capital increased from approximately RMB 7.429 billion to approximately RMB 7.857 billion. The scale of this capital increase exceeded RMB 400 million , which is the third capital increase of NIO Group this year.
In October, the registered capital of NIO Holdings Co., Ltd. increased from about RMB 6.43 billion to about RMB 7.43 billion. On the 6th of this month, the registered capital of NIO Automotive Technology (Anhui) Co., Ltd. increased significantly from RMB 6 billion to RMB 18 billion, an increase of 200%. On September 29 this year, NIO announced that it would jointly increase capital with three existing shareholders of NIO China (Hefei Jianheng New Energy Vehicle Investment Fund Partnership (Limited Partnership), Anhui High-tech Industry Investment Co., Ltd., and Guotou Merchants Investment Management Co., Ltd.), of which NIO will invest RMB 10 billion and other shareholders will invest a total of RMB 3.3 billion, totaling RMB 13.3 billion to subscribe for newly issued shares of NIO China. Combining these three capital increases, the total capital increase of NIO Group has reached RMB 13.4 billion.
Li Bin, founder, chairman and CEO of NIO, said at this year's "2024 Global Smart Car Industry Conference" that these capital increases not only reflect trust in NIO, but also firm support for the high-quality development of Hefei, Anhui and even China's smart electric vehicle industry. This statement undoubtedly adds confidence to NIO's future development.
According to the third quarter financial report released by NIO, the company achieved revenue of RMB 18.67 billion, a 7% increase from the previous quarter, although it was slightly down 2.1% year-on-year. The net loss was RMB 5.06 billion, but the loss was narrowed compared with the same period last year. The overall gross profit margin was 10.7%, free cash flow turned positive to RMB 5.6 billion, and cash reserves climbed to RMB 42.2 billion, with sufficient cash flow.
NIO delivered 20,575 vehicles in November 2024, a year-on-year increase of 28.9%. So far in 2024, a total of 190,832 vehicles have been delivered, a year-on-year increase of 34.4%. As of November 30, 2024, NIO has delivered a total of 640,426 vehicles.
On December 21, NIO held NIO Day 2024 in Guangzhou. NIO's smart electric executive flagship ET9 was officially launched, with a starting price of 788,000 yuan. It is reported that ET9 is scheduled to start delivery in March 2025. This is also NIO's most expensive car. At the same time, NIO also officially released the smart electric high-end car brand Firefly.