Image Source : China Visual

BEIJING, March 2 (TMTPOST) —— NIO's gross profit margin of vehicle sales was 6.8% in the fourth quarter of 2022, down 9.6 percentage points from the previous quarter and 14.1 percentage points from the same period last year, according to the financial report released by NIO on Wednesday evening.

The company reported revenue of RMB 16.06 billion ($2.33 billion) in the fourth quarter, up 23.55 percent from the third quarter and up 62.26 percent year-on-year, marking 11 consecutive quarters of positive growth. In 2022, the total annual revenue was 49.27 billion yuan ($7.1 billion). The R&D expenditure in the fourth quarter was 3.98 billion yuan, and the total R&D expenditure for the year was 10.84 billion yuan ($1.6 billion).  The company's cash reserves reached 45.5 billion yuan ($6.6 billion).

Li Auto, also a leading car maker in China, reported a 20% gross profit margin in its automotive business in the fourth quarter of 2022, up 12 percentage points from the previous quarter.

In the earnings conference call held on the same day, Qu Yu, Financial Controller of NIO, explained that the model ES8, ES6, and EC6 will be replaced by a new generation model in the second quarter of 2023, so the company lowered its sales forecast for the three models in the fourth quarter of 2022.  Related Inventory provisions and purchase commitment losses related totaled RMB985 million ($142 million) in the quarter. Excluding this impact, the total vehicle gross margin in the fourth quarter of 2022 was 13.5%.

As the revenue is growing, NIO's losses are also widening. Net loss widened to 5.786 billion yuan ($836.7 million) in the fourth quarter, up 169.9% year-on-year and 40.8% quarter-on-quarter respectively.    The net loss for the whole year reached 14.437 billion yuan ($2 billion) in 2022, an increase of 259.4% over the same period last year.

It is worth noting that the gross profit rate of NIO declined significantly in the fourth quarter to only 6.8%, which was 20.9% and 16.4% respectively in the fourth quarter of 2021 and the third quarter of 2022. The company explained that its plunging automotive gross margin in the fourth quarter was due to inventory provisions related to existing ES8, ES6, and EC6 models, accelerated depreciation of production facilities, and loss of purchase commitments. For the whole of 2022, NIO's automotive gross margin was 13.7%, down 6.4 percentage points from the previous year.

Between the plunging gross profit margin and widening losses is the gap between the spending on R&D and the expenditure on marketing. NIO's R&D expenditure in 2022 was 10.836 billion yuan ($1.6 billion), up 136 percent year on year.  Spending on marketing and administrative expenses was 10.537 billion yuan ($1.5 billion), up 57.6 percent year on year.    For the first quarter of this year, the company is expected to deliver 31,000 to 33,000 vehicles and generate revenue of 10.62 billion yuan ($1.53 billion) to 11.54 billion yuan ($1.67 billion).

In the earnings call held in the evening, NIO's Chairman Li Bin revealed that the company will gradually realize a network of power swap stations in highway services areas in the first half of this year. By the end of 2023, more than 2,300 power charging stations will be built.

本文內(nèi)容來源:鈦媒體英文站

轉(zhuǎn)載請(qǐng)注明出處、作者和本文鏈接。
聲明:文章內(nèi)容僅供參考、交流、學(xué)習(xí)、不構(gòu)成投資建議。
想和千萬鈦媒體用戶分享你的新奇觀點(diǎn)和發(fā)現(xiàn),點(diǎn)擊這里投稿 。創(chuàng)業(yè)或融資尋求報(bào)道,點(diǎn)擊這里。

敬原創(chuàng),有鈦度,得贊賞

贊賞支持
發(fā)表評(píng)論
0 / 300

根據(jù)《網(wǎng)絡(luò)安全法》實(shí)名制要求,請(qǐng)綁定手機(jī)號(hào)后發(fā)表評(píng)論

請(qǐng) 登錄后輸入評(píng)論內(nèi)容

快報(bào)

更多

14:03

日本30年期國(guó)債收益率上漲9個(gè)基點(diǎn),報(bào)3.790%

14:02

歐洲斯托克50指數(shù)期貨下跌0.77%

14:01

日本警察廳就自衛(wèi)隊(duì)員強(qiáng)闖中國(guó)使館事件召開會(huì)議

13:56

比亞迪:對(duì)2026年汽車出口量達(dá)150萬輛有信心,可能超出此前設(shè)定目標(biāo)的15%

13:45

黑龍江海林樓房坍塌致7死

13:36

滬深兩市成交額突破1.5萬億,較上一日此時(shí)放量超1100億

13:33

智象未來與諾亦騰機(jī)器人達(dá)成戰(zhàn)略合作,探索具身智能數(shù)據(jù)生成

13:24

中國(guó)首個(gè)萬卡級(jí)全棧自主可控智算集群點(diǎn)亮

13:18

市場(chǎng)監(jiān)管總局:推動(dòng)研究制定《禁止網(wǎng)絡(luò)不正當(dāng)競(jìng)爭(zhēng)條例》

13:12

市場(chǎng)監(jiān)管總局:健全反不正當(dāng)競(jìng)爭(zhēng)工作機(jī)制

13:11

市場(chǎng)監(jiān)管總局:著力提升對(duì)網(wǎng)絡(luò)不正當(dāng)競(jìng)爭(zhēng)行為的常態(tài)化監(jiān)管水平

13:11

市場(chǎng)監(jiān)管總局:防治大型企業(yè)等經(jīng)營(yíng)者拖欠中小企業(yè)賬款

13:10

南下資金凈買入港股超50億港元

13:09

市場(chǎng)監(jiān)管總局:綜合運(yùn)用各類反不正當(dāng)競(jìng)爭(zhēng)措施,著力防治平臺(tái)經(jīng)濟(jì)、光伏、鋰電池、新能源汽車等重點(diǎn)行業(yè)和領(lǐng)域“內(nèi)卷式”競(jìng)爭(zhēng)

13:07

高鐵軌交概念午后異動(dòng),中鐵工業(yè)等多股漲停

13:03

光纖概念持續(xù)走強(qiáng),長(zhǎng)飛光纖5天3板續(xù)創(chuàng)歷史新高

12:44

恒鋒工具:距離“鋒工轉(zhuǎn)債”停止轉(zhuǎn)股日僅剩半個(gè)交易日

12:33

豐田2月份全球銷量為737,134輛,同比下降3.3%

12:24

商務(wù)部:將推出優(yōu)化離境退稅2.0版措施,讓境外旅客購物更便利更實(shí)惠

12:19

柬埔寨國(guó)會(huì)通過《反電信網(wǎng)絡(luò)詐騙法》草案

掃描下載App