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NIO Inc. Reports Unaudited Third Quarter 2023 Financial Results 12/5/2023 Quarterly Total Revenues reached RMB19,066.6 million (US$2,613.3 million)i Quarterly Vehicle Deliveries were 55,432 units SHANGHAI, China, Dec. 05, 2023 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced its unaudited financial results for the third quarter ended September 30, 2023. Operating Highlights for the Third Quarter of 2023 Vehicle deliveries were 55,432 in the third quarter of 2023, consisting of 37,585 premium smart electric SUVs and 17,847 premium smart electric sedans, representing an increase of 75.4% from the third quarter of 2022, and an increase of 135.7% from the second quarter of 2023. Key Operating Results 2023 Q3 2023 Q2 2023 Q1 2022 Q4 Deliveries 55,432 23,520 31,041 40,052 2022 Q3 2022 Q2 2022 Q1 2021 Q4 Deliveries 31,607 25,059 25,768 25,034 Financial Highlights for the Third Quarter of 2023 Vehicle sales were RMB17,408.9 million (US$2,386.1 million) in the third quarter of 2023, representing an increase of 45.9% from the third quarter of 2022 and an increase of 142.3% from the second quarter of 2023. Vehicle marginii was 11.0% in the third quarter of 2023, compared with 16.4% in third quarter of 2022 and 6.2% in the second quarter of 2023. Total revenues were RMB19,066.6 million (US$2,613.3 million) in the third quarter of 2023, representing an increase of 46.6% from the third quarter of 2022 and an increase of 117.4 % from the second quarter of 2023. Gross profit was RMB1,523.3 million (US$208.8 million) in the third quarter of 2023, representing a decrease of 12.2% from the third quarter of 2022 and an increase of 1,650.9% from the second quarter of 2023. Gross margin was 8.0% in the third quarter of 2023, compared with 13.3% in the third quarter of 2022 and 1.0% in the second quarter of 2023. Loss from operations was RMB4,843.9 million (US$663.9 million) in the third quarter of 2023, representing an increase of 25.2% from the third quarter of 2022 and a decrease of 20.3% from the second quarter of 2023. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB4,240.4 million (US$581.2 million) in the third quarter of 2023, representing an increase of 30.1% from the third quarter of 2022 and a decrease of 22.4% from the second quarter of 2023. Net loss was RMB4,556.7 million (US$624.6 million) in the third quarter of 2023, representing an increase of 10.8% from the third quarter of 2022 and a decrease of 24.8% from the second quarter of 2023. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB3,953.2 million (US$541.8 million) in the third quarter of 2023, representing an increase of 13.0% from the third quarter of 2022 and a decrease of 27.4% from the second quarter of 2023. Cash and cash equivalents, restricted cash, short-term investment and long-term time deposits were RMB45.2 billion (US$6.2 billion) as of September 30, 2023
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