Summary by Moomoo AI
NIO Inc. announced its unaudited financial results for the third quarter of 2024 on November 20, 2024. During this quarter, NIO achieved automobile deliveries of 61,855 units, setting a new historical record, and representing a year-on-year growth of 11.6%. The total revenue for the quarter reached RMB 18.6735 billion, but declined by 2.1% compared to the same period last year. The automobile sales revenue was RMB 16.6976 billion, a decrease of 4.1%, while the gross margin for automobiles improved to 13.1%. The net loss was RMB 5.0597 billion, an increase of 11.0% year-on-year. The company's cash and cash equivalents, restricted cash, short-term investments, and long-term time deposits totaled RMB 42.2 billion. NIO expects the automobile delivery volume for the fourth quarter of 2024 to be between 72,000 and 75,000 units, with anticipated total revenue between RMB 19.676 billion and RMB 20.383 billion. The company's management maintains an optimistic attitude toward future business development and will hold an earnings conference call on November 20, 2024.
