NIO has just released its 2024 second-quarter financial report. Let's look at some specific financial data:

  • Second-quarter revenue was 17.45 billion yuan, up 98.9% year-on-year and up 76.1% quarter-on-quarter, setting a record high for single-quarter revenue;
  • Deliveries were 57.4 thousand units, up 143.9% year-on-year and up 90.9% quarter-on-quarter, setting a record high for single-quarter deliveries;
  • Vehicle margin was 12.2%, up 6 percentage points year-on-year and up 3 percentage points quarter-on-quarter;
  • R&D investment was 3.22 billion yuan, cash reserves were 41.6 billion yuan, and losses narrowed significantly year-on-year by 16.7%;
  • Third-quarter delivery guidance is 61 thousand - 63 thousand units, and third-quarter revenue guidance is 19.11 billion yuan to 19.67 billion yuan. Both guidance figures are record highs;
  • Net loss was 5.046 billion yuan, down 16.7% year-on-year and down 2.7% quarter-on-quarter. Adjusted net loss (non-GAAP) was 4.5352 billion yuan, down 16.7% year-on-year and down 7.5% quarter-on-quarter.

Although competition is becoming increasingly fierce, NIO's resilience is still strong. After Onvo's deliveries stabilize, it may usher in a new wave of growth. Although losses have narrowed somewhat, they will remain a major challenge for NIO going forward.

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via 42 Hao Garage's Weibo