NIO
NIO Inc
Q3 2024 Report
NIO Inc (NIO) Q3 2024 Financial Results: Navigating Growth amidst Challenges...
Read full report
Executive Summary
NIO Inc reported a strong performance for the second quarter of 2024, showcasing significant growth across key financial metrics. Revenue reached RMB 17.4 billion, representing a staggering 98.9% increase year-over-year and a 76.1% rise quarter-over-quarter. The company achieved a record delivery of 57,373 vehicles in Q2, marking a remarkable 143.9% growth from the same period last year.
Management emphasized continuous optimization of their product mix and operational efficiencies resulting in an improved vehicle margin of 12.2% compared to 6.2% in Q2 2023. With the launch of innovative technologies and service initiatives, NIO is positioned to further enhance its competitive edge in the expanding battery electric vehicle (BEV) market.
Key Performance Indicators
Revenue
17.45B
QoQ: 76.07% | YoY:98.89%
Gross Profit
1.69B
9.70% margin
QoQ: 246.24% | YoY:1 842.03%
Operating Income
-5.21B
QoQ: 3.43% | YoY:14.24%
Net Income
-5.13B
QoQ: 2.50% | YoY:16.26%
EPS
-2.50
QoQ: 2.72% | YoY:32.43%
Revenue Trend
Margin Analysis
Key Insights
- **Total Revenue**: RMB 17.4 billion (YoY: +98.9%, QoQ: +76.1%)
- **Vehicle Sales Revenue**: RMB 15.7 billion (YoY: +118.2%, QoQ: +87.1%)
- **Total Gross Margin**: 9.7% (Q2 2023: 1.0%; Q1 2024: 4.9%)
- **Operating Income**: -RMB 5.2 billion
- **Net Income**: -RMB 5.0 billion (YoY: decrease of 16.7%)