Nio Posts 10.3% Decline in Q4 Revenue From Q3, Guides Q1 Deliveries of 31,000 to 33,000
Nio Posts 10.3% Decline in Q4 Revenue From Q3, Guides Q1 Deliveries of 31,000 to 33,000
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Nio (NYSE: NIO) reported total revenues of RMB17.1 billion in the fourth quarter of 2023, an increase of 6.5 percent from the fourth quarter of 2022 and a decrease of 10.3 percent from the third quarter of 2023.
蔚來（紐約證券交易所代碼：NIO）報告稱，2023年第四季度的總收入爲人民幣171億元，較2022年第四季度增長6.5％，比2023年第三季度下降10.3％。
Net loss for the fourth quarter of 2023 was RMB5.37 billion, a decrease of 7.2 percent from the fourth quarter of 2022 and an increase of 17.8 percent from the third quarter of 2023.
2023年第四季度的淨虧損爲人民幣53.7億元，較2022年第四季度下降7.2％，比2023年第三季度增長17.8％。
Below is its statement, as the CnEVPost article is being updated.
以下是其聲明，因爲CNEVPost的文章正在更新中。
Financial Results for the Fourth Quarter and Full Year of 2023
2023年第四季度和全年財務業績
Revenues
收入
Total revenues in the fourth quarter of 2023 were RMB17,103.2 million (US$2,408.9 million), representing an increase of 6.5% from the fourth quarter of 2022 and a decrease of 10.3% from the third quarter of 2023.
2023年第四季度的總收入爲人民幣171.032億元（合24.089億美元），比2022年第四季度增長6.5％，比2023年第三季度下降10.3％。
Total revenues for the full year of 2023 were RMB55,617.9 million (US$7,833.6 million), representing an increase of 12.9% from the previous year.
2023年全年的總收入爲人民幣556.179億元（合78.336億美元），比上年增長12.9％。
Vehicle sales in the fourth quarter of 2023 were RMB15,438.7 million (US$2,174.5 million), representing an increase of 4.6% from the fourth quarter of 2022 and a decrease of 11.3% from the third quarter of 2023.
2023年第四季度的汽車銷售額爲人民幣154.387億元（合21.745億美元），比2022年第四季度增長4.6％，比2023年第三季度下降11.3％。
The increase in vehicle sales over the fourth quarter of 2022 was mainly due to the increase in delivery volume, partially offset by the lower average selling price as a result of changes in product mix. The decrease in vehicle sales over the third quarter of 2023 was mainly attributed to a decrease in delivery volume.
與2022年第四季度相比，汽車銷量的增長主要是由於交付量的增加，但部分被產品結構變化導致的平均銷售價格下降所抵消。與2023年第三季度相比，汽車銷量的下降主要歸因於交付量的下降。
Vehicle sales for the full year of 2023 were RMB49,257.3 million (US$6,937.7 million), representing an increase of 8.2% from the previous year.
2023年全年的汽車銷售額爲人民幣492.573億元（合69.377億美元），比上年增長8.2％。
Other sales in the fourth quarter of 2023 were RMB1,664.5 million (US$234.4 million), representing an increase of 27.6% from the fourth quarter of 2022 and an increase of 0.4% from the third quarter of 2023.
2023年第四季度的其他銷售額爲人民幣16.645億元（合2.344億美元），比2022年第四季度增長27.6％，比2023年第三季度增長0.4％。
The increase in other sales over the fourth quarter of 2022 was mainly due to the increase in sales of accessories and provision of power solutions, as a result of continued growth in the number of our users. Other sales remained relatively stable compared with the third quarter of 2023.
與2022年第四季度相比，其他銷售額的增長主要是由於我們的用戶數量持續增長導致配件銷售和電力解決方案的提供。與2023年第三季度相比，其他銷售額保持相對穩定。
Other sales for the full year of 2023 were RMB6,360.7 million (US$895.9 million), representing an increase of 69.1% from the previous year.
Cost of Sales and Gross Margin
2023年全年其他銷售額爲人民幣63.607億元（8.959億美元），比上年增長69.1％。
銷售成本和毛利率
Cost of sales in the fourth quarter of 2023 was RMB15,823.9 million (US$2,228.8 million), representing an increase of 2.5% from the fourth quarter of 2022 and a decrease of 9.8% from the third quarter of 2023. Cost of sales remained relatively stable compared with the fourth quarter of 2022. The decrease in cost of sales over the third quarter of 2023 was mainly attributable to a decrease in delivery volume.
2023年第四季度的銷售成本爲人民幣158.239億元（合22.288億美元），比2022年第四季度增長2.5％，比2023年第三季度下降9.8％。與2022年第四季度相比，銷售成本保持相對穩定。與2023年第三季度相比，銷售成本的下降主要歸因於交付量的減少。
Cost of sales for the full year of 2023 was RMB52,566.1 million (US$7,403.8 million), representing an increase of 19.1% from the previous year.
2023年全年的銷售成本爲人民幣525.661億元（合74.038億美元），比上年增長19.1％。
Gross profit in the fourth quarter of 2023 was RMB1,279.2 million (US$180.2 million), representing an increase of 105.7% from the fourth quarter of 2022 and a decrease of 16.0% from the third quarter of 2023.
2023年第四季度的毛利爲人民幣12.792億元（1.802億美元），比2022年第四季度增長105.7％，比2023年第三季度下降16.0％。
Gross Profit for the full year of 2023 was RMB3,051.8 million (US$429.8 million), representing a decrease of 40.7% from the previous year.
2023年全年毛利爲人民幣30.518億元（4.298億美元），比上年下降40.7％。
Gross margin in the fourth quarter of 2023 was 7.5%, compared with 3.9% in the fourth quarter of 2022 and 8.0% in the third quarter of 2023.
2023年第四季度的毛利率爲7.5％，而2022年第四季度爲3.9％，2023年第三季度爲8.0％。
The increase of gross margin over the fourth quarter of 2022 was mainly attributed to the increased vehicle margin. The decrease of gross margin over the third quarter of 2023 was mainly attributed to the decrease in margin from provision of power solutions as a result of expanded power network, and partially offset by the higher vehicle margin.
與2022年第四季度相比，毛利率的增長主要歸因於車輛利潤率的提高。與2023年第三季度相比，毛利率下降的主要原因是電力網絡擴大導致提供電力解決方案的利潤率下降，但部分被汽車利潤率的提高所抵消。
Gross margin for the full year of 2023 was 5.5%, compared with 10.4% for the full year of 2022.
2023年全年的毛利率爲5.5％，而2022年全年的毛利率爲10.4％。
Vehicle margin in the fourth quarter of 2023 was 11.9%, compared with 6.8% in the fourth quarter of 2022 and 11.0% in the third quarter of 2023. The increase in vehicle margin from the fourth quarter of 2022 was mainly attributable to (i) the decreased material cost per unit, and (ii) the inventory provisions, accelerated depreciation on production facilities, and losses on purchase commitments for the previous generation of ES8, ES6 and EC6 recorded in the fourth quarter of 2022. The increase in vehicle margin from the third quarter of 2023 was mainly due to the decreased material cost per unit.
2023年第四季度的車輛利潤率爲11.9％，而2022年第四季度爲6.8％，2023年第三季度爲11.0％。與2022年第四季度相比，汽車利潤率的增加主要歸因於（i）單位材料成本下降，以及（ii）2022年第四季度記錄的庫存準備、生產設施的加速折舊以及上一代ES8、ES6和EC6的購買承諾虧損。自2023年第三季度以來，車輛利潤率的增長主要是由於單位材料成本的降低。
Vehicle margin for the full year of 2023 was 9.5%, compared with 13.7% for the full year of 2022.
Operating Expenses
2023年全年的車輛利潤率爲9.5％，而2022年全年爲13.7％。
運營費用
Research and development expenses in the fourth quarter of 2023 were RMB3,972.1 million (US$559.5 million), representing a decrease of 0.2% from the fourth quarter of 2022 and an increase of 30.7% from the third quarter of 2023. Excluding share-based compensation expenses, research and development expenses (non-GAAP) were RMB3,616.4 million (US$509.4 million), representing an increase of 1.8% from the fourth quarter of 2022 and an increase of 36.8% from the third quarter of 2023.
2023年第四季度的研發費用爲人民幣39.721億元（合5.595億美元），比2022年第四季度下降0.2％，比2023年第三季度增長30.7％。不包括基於股份的薪酬支出，研發費用（非公認會計准則）爲人民幣36.164億元（5.094億美元），較2022年第四季度增長1.8％，比2023年第三季度增長36.8％。
Research and development expenses remained relatively stable compared with the fourth quarter of 2022. The increase in research and development expenses over the third quarter of 2023 was mainly due to the incremental design and development costs for new products and technologies as well as the increased personnel costs in research and development functions.
與2022年第四季度相比，研發費用保持相對穩定。與2023年第三季度相比，研發費用增加的主要原因是新產品和技術的設計和開發成本增加，以及研發職能人員成本的增加。
Research and development expenses for the full year of 2023 were RMB13,431.4 million (US$1,891.8 million), representing an increase of 23.9% from the previous year. Excluding share-based compensation expenses, research and development expenses (non-GAAP) were RMB11,914.2 million (US$1,678.1 million), representing an increase of 25.2% from the previous year.
2023年全年的研發費用爲人民幣134.314億元（合18.918億美元），比上年增長23.9％。不包括基於股份的薪酬支出，研發費用（非公認會計准則）爲人民幣119.142億元（合16.781億美元），比上年增長25.2％。
Selling, general and administrative expenses in the fourth quarter of 2023 were RMB3,972.7 million (US$559.5 million), representing an increase of 12.6% from the fourth quarter of 2022 and an increase of 10.1% from the third quarter of 2023.
2023年第四季度的銷售、一般和管理費用爲人民幣39.727億元（合5.595億美元），比2022年第四季度增長12.6％，比2023年第三季度增長10.1％。
Excluding share-based compensation expenses, selling, general and administrative expenses (non-GAAP) were RMB3,781.5 million (US$532.6 million), representing an increase of 16.1% from the fourth quarter of 2022 and an increase of 10.4% from the third quarter of 2023. The increase in selling, general and administrative expenses over the fourth quarter of 2022 and the third quarter of 2023 was mainly attributable to (i) the increase in personnel costs related to sales functions, and (ii) the increase in sales and marketing activities.
不包括基於股份的薪酬支出，銷售、一般和管理費用（非公認會計准則）爲人民幣37.815億元（5.326億美元），比2022年第四季度增長16.1％，比2023年第三季度增長10.4％。與2022年第四季度和2023年第三季度相比，銷售、一般和管理費用的增加主要歸因於（i）與銷售職能相關的人員成本增加，以及（ii）銷售和營銷活動的增加。
Selling, general and administrative expenses for the full year of 2023 were RMB12,884.6 million (US$1,814.8 million), representing an increase of 22.3% from the previous year. Excluding share-based compensation expenses, selling, general and administrative expenses (non-GAAP) were RMB12,116.7 million (US$1,706.6 million), representing an increase of 25.8% from last year.
Loss from Operations
2023年全年的銷售、一般和管理費用爲人民幣128.846億元（合18.148億美元），比上年增長22.3％。不包括基於股份的薪酬支出，銷售、一般和管理費用（非公認會計准則）爲人民幣121.167億元（合17.066億美元），比去年增長25.8％。
運營損失
Loss from operations in the fourth quarter of 2023 was RMB6,625.3 million (US$933.2 million), representing a decrease of 1.6% from the fourth quarter of 2022 and an increase of 36.8% from the third quarter of 2023. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB6,059.3 million (US$853.4 million) in the fourth quarter of 2023, representing an increase of 0.7% from the fourth quarter of 2022 and an increase of 42.9% from third quarter of 2023.
2023年第四季度的運營虧損爲人民幣66.253億元（合9.332億美元），比2022年第四季度下降1.6％，比2023年第三季度增長36.8％。不包括基於股份的薪酬支出，2023年第四季度調整後的運營虧損（非公認會計准則）爲人民幣60.593億元（8.534億美元），比2022年第四季度增長0.7％，比2023年第三季度增長42.9％。
Loss from operations for the full year of 2023 was RMB22,655.2 million (US$3,190.9 million), representing an increase of 44.8% from last year. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB20,286.1 million (US$2,857.2 million) in 2023, representing an increase of 52.0% from last year.
2023年全年的運營虧損爲人民幣226.552億元（合31.909億美元），比去年增長44.8％。不包括基於股份的薪酬支出，2023年調整後的運營虧損（非公認會計准則）爲人民幣202.861億元（28.572億美元），比去年增長52.0％。
Net Loss and Earnings Per Share/ADS
淨虧損和每股收益/廣告
Interest and investment income in the fourth quarter of 2023 was RMB1,368.1 million (US$192.7 million), representing an increase of 288.7% from the fourth quarter of 2022 and an increase of 375.0% from the third quarter of 2023.
2023年第四季度的利息和投資收入爲人民幣13.681億元（合1.927億美元），比2022年第四季度增長288.7％，比2023年第三季度增長375.0％。
The increase was primarily attributed to the recycling of unrealized gain from other comprehensive income to investment income of RMB977.3 million for the available-for-sale debt investment.
這一增長主要歸因於將其他綜合收益的未實現收益循環用於可供出售債務投資的人民幣9.773億元的投資收益。
Net loss in the fourth quarter of 2023 was RMB5,367.7 million (US$756.0 million), representing a decrease of 7.2% from the fourth quarter of 2022 and an increase of 17.8% from the third quarter of 2023.
2023年第四季度的淨虧損爲人民幣53.677億元（7.56億美元），比2022年第四季度下降7.2％，比2023年第三季度增長17.8％。
Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB4,801.7 million (US$676.3 million) in the fourth quarter of 2023, representing a decrease of 5.2% from the fourth quarter of 2022 and an increase of 21.5% from the third quarter of 2023.
不包括基於股份的薪酬支出，2023年第四季度調整後的淨虧損（非公認會計准則）爲人民幣48.017億元（6.763億美元），比2022年第四季度下降5.2％，比2023年第三季度增長21.5％。
Net loss for the full year of 2023 was RMB20,719.8 million (US$2,918.3 million), compared with net loss of RMB14,437.1 million in 2022. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB18,350.7 million (US$2,584.6 million) in 2023.
2023年全年的淨虧損爲人民幣207.198億元（合29.183億美元），而2022年的淨虧損爲人民幣144.371億元。不包括基於股份的薪酬支出，2023年調整後的淨虧損（非公認會計准則）爲人民幣183.507億元（合25.846億美元）。
Net loss attributable to NIO's ordinary shareholders in the fourth quarter of 2023 was RMB 5,592.8 million (US$787.7 million), representing a decrease of 4.3% from the fourth quarter of 2022 and an increase of 20.8% from the third quarter of 2023. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO's ordinary shareholders (non-GAAP) was RMB 4,948.0 million (US$696.9 million) in the fourth quarter of 2023.
2023年第四季度歸屬於蔚來普通股股東的淨虧損爲人民幣55.928億元（7.877億美元），較2022年第四季度下降4.3％，比2023年第三季度增長20.8％。不包括基於股份的薪酬支出和可贖回非控股權益與贖回價值的增加，2023年第四季度歸屬於蔚來普通股股東的調整後淨虧損（非公認會計准則）爲人民幣49.48億元（6.969億美元）。
Net loss attributable to NIO's ordinary shareholders for the full year of 2023 was RMB 21,147.0 million (US$2,978.5 million). The net loss attributable to NIO's ordinary shareholders was RMB14,559.4 million in 2022. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO's ordinary shareholders (non-GAAP) was RMB18,474.8 million (US$2,602.1 million) in 2023.
2023年全年歸屬於蔚來普通股股東的淨虧損爲人民幣211.47億元（合29.785億美元）。2022年，歸屬於蔚來普通股股東的淨虧損爲人民幣145.594億元。不包括基於股份的薪酬支出和可贖回非控股權益與贖回價值的增加，2023年歸屬於蔚來普通股股東的調整後淨虧損爲人民幣184.748億元（合26.021億美元）。
Basic and diluted net loss per ordinary share/ADS in the fourth quarter of 2023 were both RMB3.18 (US$0.45), compared with RMB3.55 in the fourth quarter of 2022 and RMB2.67 in the third quarter of 2023. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per share/ADS (non-GAAP) were both RMB2.81 (US$0.39), compared with RMB3.07 in the fourth quarter of 2022 and RMB2.28 in the third quarter of 2023.
2023年第四季度每股普通股/廣告的基本淨虧損和攤薄淨虧損均爲人民幣3.18元（0.45美元），而2022年第四季度爲3.55元人民幣，2023年第三季度爲2.67元人民幣。不包括基於股份的薪酬支出和可贖回非控股權益與贖回價值的增加，調整後的每股基本虧損和攤薄淨虧損（非公認會計准則）均爲人民幣2.81元（0.39美元），而2022年第四季度爲3.07元人民幣，2023年第三季度爲人民幣2.28元。
Basic and diluted net loss per ADS for the full year of 2023 were both RMB12.44 (US$1.75). Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per ADS (non-GAAP) were both RMB10.87 (US$1.52) in 2023.
2023年全年每股ADS的基本淨虧損和攤薄淨虧損均爲人民幣12.44元（1.75美元）。不包括基於股份的薪酬支出和可贖回非控股權益與贖回價值的增加，2023年調整後的每股ADS（非公認會計准則）基本虧損和攤薄淨虧損均爲人民幣10.87元（1.52美元）。
Balance Sheet
資產負債表
Balance of cash and cash equivalents, restricted cash, short-term investment and long-term time deposits was RMB57.3 billion (US$8.1 billion) as of December 31, 2023.
截至2023年12月31日，現金及現金等價物、限制性現金、短期投資和長期定期存款餘額爲人民幣573億元（合81億美元）。
Business Outlook
商業展望
For the first quarter of 2024, the Company expects:
對於2024年第一季度，公司預計：
Deliveries of vehicles to be between 31,000 and 33,000 vehicles, representing a decrease of approximately 0.1% to an increase of approximately 6.3% from the same quarter of 2023.
汽車的交付量將在31,000至33,000輛之間，比2023年同期下降約0.1％，增長約6.3％。
Total revenues to be between RMB10,499 million (US$1,479 million) and RMB11,087 million (US$1,562 million), representing a decrease of approximately 1.7% to an increase of approximately 3.8% from the same quarter of 2023.
總收入將在人民幣104.99億元（合14.79億美元）至人民幣110.87億元（合15.62億美元）之間，較2023年同期下降約1.7％，增長約3.8％。
This business outlook reflects the Company's current and preliminary view on the business situation and market condition, which is subject to change.
該業務前景反映了公司對業務狀況和市場狀況的當前和初步看法，這種看法可能會發生變化。