NIO Inc 6-K, filed Dec 5, 2023

NIO Inc. (NIO)

6-K 2023-12-05 For: 2023-12-05

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Added on April 11, 2026

About this 6-K

NIO Inc filed this 6-K on December 5, 2023.

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Exhibit No.		Description
99.1		Press Release—NIO Inc. Reports Unaudited Third Quarter 2023 Financial Results

	NIO Inc.

	By	:	/s/ Wei Feng
	Name	:	Wei Feng
	Title	:	Chief Financial Officer

Date: December 5, 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

Key Financial Results for the Third Quarter of 2023

(in RMB million, except for percentage)

	2023 Q3			2023 Q2			2022 Q3			% Changeⁱⁱⁱ
										QoQ			YoY
Vehicle Sales		17,408.9			7,185.2			11,932.7			142.3	%		45.9	%
Vehicle Margin		11.0	%		6.2	%		16.4	%		480	bp		-540	bp

Total Revenues		19,066.6			8,771.7			13,002.1			117.4	%		46.6	%
Gross Profit		1,523.3			87.0			1,735.1			1,650.9	%		-12.2	%
Gross Margin		8.0	%		1.0	%		13.3	%		700	bp		-530	bp

Loss from Operations		(4,843.9	)		(6,074.1	)		(3,870.3	)		-20.3	%		25.2	%
Adjusted Loss from Operations (non-GAAP)		(4,240.4	)		(5,464.1	)		(3,258.4	)		-22.4	%		30.1	%

Net Loss		(4,556.7	)		(6,055.8	)		(4,110.8	)		-24.8	%		10.8	%
Adjusted Net Loss (non-GAAP)		(3,953.2	)		(5,445.7	)		(3,498.9	)		-27.4	%		13.0	%

United States:	+1-855-883-1031
Hong Kong, China:	+852-800-930-639
Mainland, China:	+86-400-1209-216
Singapore:	+65-800-1013-223
International:	+61-7-3107-6325
Replay PIN:	10035239

	·	Deliveries of vehicles to be between 47,000 and 49,000 vehicles, representing an increase of approximately 17.3% to 22.3% from the same quarter of 2022.

	As of
	December 31, 2022		September 30, 2023		September 30, 2023
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		19,887,575		24,084,635		3,301,074
Restricted cash		3,154,240		4,155,376		569,542
Short-term investments		19,171,017		14,869,603		2,038,049
Trade and notes receivables		5,118,170		5,372,382		736,346
Amounts due from related parties		1,380,956		1,947,234		266,891
Inventory		8,191,386		7,063,308		968,107
Prepayments and other current assets		2,246,408		3,176,611		435,391
Total current assets		59,149,752		60,669,149		8,315,400
Non-current assets:
Long-term restricted cash		113,478		144,401		19,792
Property, plant and equipment, net		15,658,666		20,740,663		2,842,744
Intangible assets, net		—		29,648		4,064
Land use rights, net		212,603		208,625		28,594
Long-term investments		6,356,411		5,532,418		758,281
Right-of-use assets - operating lease		7,374,456		9,627,068		1,319,499
Other non-current assets		7,398,559		5,514,308		755,799
Total non-current assets		37,114,173		41,797,131		5,728,773
Total assets		96,263,925		102,466,280		14,044,173
LIABILITIES
Current liabilities:
Short-term borrowings		4,039,210		4,833,000		662,418
Trade and notes payable		25,223,687		28,117,924		3,853,882
Amounts due to related parties		384,611		635,816		87,146
Taxes payable		286,300		406,682		55,740
Current portion of operating lease liabilities		1,025,968		1,352,542		185,381
Current portion of long-term borrowings		1,237,916		5,231,765		717,073
Accruals and other liabilities		13,654,362		14,865,338		2,037,464
Total current liabilities		45,852,054		55,443,067		7,599,104
Non-current liabilities:
Long-term borrowings		10,885,799		12,155,738		1,666,083
Non-current operating lease liabilities		6,517,096		8,664,054		1,187,507
Deferred tax liabilities		218,189		216,003		29,606
Other non-current liabilities		5,144,027		6,295,799		862,912
Total non-current liabilities		22,765,111		27,331,594		3,746,108
Total liabilities		68,617,165		82,774,661		11,345,212

	Three Months Ended
	September 30, 2022			June 30, 2023			September 30, 2023			September 30, 2023
	RMB			RMB			RMB			US$
Revenues:
Vehicle sales		11,932,709			7,185,214			17,408,864			2,386,083
Other sales		1,069,386			1,586,521			1,657,687			227,205
Total revenues		13,002,095			8,771,735			19,066,551			2,613,288
Cost of sales:
Vehicle sales		(9,978,261	)		(6,738,344	)		(15,491,494	)		(2,123,286	)
Other sales		(1,288,741	)		(1,946,435	)		(2,051,734	)		(281,214	)
Total cost of sales		(11,267,002	)		(8,684,779	)		(17,543,228	)		(2,404,500	)
Gross profit		1,735,093			86,956			1,523,323			208,788
Operating expenses:
Research and development		(2,944,517	)		(3,344,572	)		(3,039,089	)		(416,542	)
Selling, general and administrative		(2,712,483	)		(2,856,603	)		(3,609,319	)		(494,698	)
Other operating income		51,607			40,104			281,174			38,538
Total operating expenses		(5,605,393	)		(6,161,071	)		(6,367,234	)		(872,702	)
Loss from operations		(3,870,300	)		(6,074,115	)		(4,843,911	)		(663,914	)
Interest and investment income		313,208			247,180			288,014			39,476
Interest expenses		(100,564	)		(82,440	)		(88,546	)		(12,136	)
Gain on extinguishment of debt		—			—			170,193			23,327
Share of income of equity investees		52,054			10,641			7,781			1,066
Other losses, net		(495,582	)		(138,345	)		(88,645	)		(12,150	)
Loss before income tax expense		(4,101,184	)		(6,037,079	)		(4,555,114	)		(624,331	)
Income tax expense		(9,639	)		(18,671	)		(1,610	)		(221	)
Net loss		(4,110,823	)		(6,055,750	)		(4,556,724	)		(624,552	)
Accretion on redeemable non-controlling interests to redemption value		(71,100	)		(74,772	)		(77,159	)		(10,576	)
Net loss attributable to non-controlling interests		39,603			8,586			5,254			720
Net loss attributable to ordinary shareholders of NIO Inc.		(4,142,320	)		(6,121,936	)		(4,628,629	)		(634,408	)

Net loss		(4,110,823	)		(6,055,750	)		(4,556,724	)		(624,552	)
Other comprehensive income/(loss)
Change in unrealized gains related to available-for-sale debt securities, net of tax		32,727			—			—			—
Change in unrealized (losses)/gains on cash flow hedges		(797	)		1,329			—			—
Foreign currency translation adjustment, net of nil tax		400,386			327,472			(61,222	)		(8,391	)
Total other comprehensive income/(loss)		432,316			328,801			(61,222	)		(8,391	)
Total comprehensive loss		(3,678,507	)		(5,726,949	)		(4,617,946	)		(632,943	)
Accretion on redeemable non-controlling interests to redemption value		(71,100	)		(74,772	)		(77,159	)		(10,576	)
Net loss attributable to non-controlling interests		39,603			8,586			5,254			720
Other comprehensive income attributable to non-controlling interests		(6,387	)		—			—			—
Comprehensive loss attributable to ordinary shareholders of NIO Inc.		(3,716,391	)		(5,793,135	)		(4,689,851	)		(642,799	)
Weighted average number of ordinary shares/ADS used in computing net loss per share/ADS
Basic and diluted		1,640,001,909			1,652,857,917			1,735,661,387			1,735,661,387
Net loss per share/ADS attributable to ordinary shareholders
Basic and diluted		(2.53	)		(3.70	)		(2.67	)		(0.37	)

	Three Months Ended September 30, 2023
	GAAP Result			Share-based compensation		Accretion on redeemable non-controlling interests to redemption value		Adjusted Result (Non-GAAP)
	RMB			RMB		RMB		RMB
Cost of sales		(17,543,228	)		22,197		—		(17,521,031	)
Research and development expenses		(3,039,089	)		395,856		—		(2,643,233	)
Selling, general and administrative expenses		(3,609,319	)		185,496		—		(3,423,823	)
Total		(24,191,636	)		603,549		—		(23,588,087	)
Loss from operations		(4,843,911	)		603,549		—		(4,240,362	)
Net loss		(4,556,724	)		603,549		—		(3,953,175	)
Net loss attributable to ordinary shareholders of NIO Inc.		(4,628,629	)		603,549		77,159		(3,947,921	)
Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)		(2.67	)		0.35		0.04		(2.28	)
Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (USD)		(0.37	)		0.05		0.01		(0.31	)

	Three Months Ended June 30, 2023
	GAAP Result			Share-based compensation		Accretion on redeemable non-controlling interests to redemption value		Adjusted Result (Non-GAAP)
	RMB			RMB		RMB		RMB
Cost of sales		(8,684,779	)		23,887		—		(8,660,892	)
Research and development expenses		(3,344,572	)		401,689		—		(2,942,883	)
Selling, general and administrative expenses		(2,856,603	)		184,462		—		(2,672,141	)
Total		(14,885,954	)		610,038		—		(14,275,916	)
Loss from operations		(6,074,115	)		610,038		—		(5,464,077	)
Net loss		(6,055,750	)		610,038		—		(5,445,712	)
Net loss attributable to ordinary shareholders of NIO Inc.		(6,121,936	)		610,038		74,772		(5,437,126	)
Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)		(3.70	)		0.37		0.05		(3.28	)

	Three Months Ended September 30, 2022
	GAAP Result			Share-based compensation		Accretion on redeemable non-controlling interests to redemption value		Adjusted Result (Non-GAAP)
	RMB			RMB		RMB		RMB
Cost of sales		(11,267,002	)		17,040		—		(11,249,962	)
Research and development expenses		(2,944,517	)		373,154		—		(2,571,363	)
Selling, general and administrative expenses		(2,712,483	)		221,680		—		(2,490,803	)
Total		(16,924,002	)		611,874		—		(16,312,128	)
Loss from operations		(3,870,300	)		611,874		—		(3,258,426	)
Net loss		(4,110,823	)		611,874		—		(3,498,949	)
Net loss attributable to ordinary shareholders of NIO Inc.		(4,142,320	)		611,874		71,100		(3,459,346	)
Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)		(2.53	)		0.37		0.05		(2.11	)