NIO Inc 6-K, filed Nov 10, 2022

NIO Inc. (NIO)

6-K 2022-11-10 For: 2022-11-10

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Added on April 11, 2026

About this 6-K

NIO Inc filed this 6-K on November 10, 2022.

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Exhibit No.		Description
99.1		Press Release—NIO Inc. Reports Unaudited Third Quarter 2022 Financial Results

NIO Inc.


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

Key Operating Results

	2022 Q3	2022 Q2	2022 Q1	2021 Q4
Deliveries	31,607	25,059	25,768	25,034

	2021 Q3	2021 Q2	2021 Q1	2020 Q4
Deliveries	24,439	21,896	20,060	17,353

Key Financial Results

(in RMB million, except for per ordinary share data and percentage)

										% Change^iv
	2022 Q3			2022 Q2			2021 Q3			QoQ			YoY
Vehicle Sales		11,932.7			9,570.8			8,636.8			24.7	%		38.2	%
Vehicle Margin		16.4	%		16.7	%		18.0	%		-30bp			-160bp
Total Revenues		13,002.1			10,292.4			9,805.3			26.3	%		32.6	%
Gross Profit		1,735.1			1,340.3			1,993.2			29.5	%		-12.9	%
Gross Margin		13.3	%		13.0	%		20.3	%		30bp			-700bp
Loss from Operations		(3,870.3	)		(2,845.6	)		(991.9	)		36.0	%		290.2	%
Adjusted Loss from Operations (non-GAAP)		(3,258.4	)		(2,355.1	)		(726.3	)		38.4	%		348.6	%
Net Loss		(4,110.8	)		(2,757.5	)		(835.3	)		49.1	%		392.1	%
Adjusted Net Loss (non-GAAP)		(3,498.9	)		(2,267.0	)		(569.7	)		54.3	%		514.2	%
Net Loss Attributable to Ordinary Shareholders		(4,142.3	)		(2,745.0	)		(2,858.9	)		50.9	%		44.9	%
Net Loss per Ordinary Share/ADS-Basic and Diluted		(2.53	)		(1.68	)		(1.82	)		50.6	%		39.0	%
Adjusted Net Loss per Ordinary Share/ADS-Basic and Diluted (non-GAAP)		(2.11	)		(1.34	)		(0.36	)		57.5	%		486.1	%

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:	10026395

	As of
	December 31, 2021		September 30, 2022		September 30, 2022
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		15,333,719		18,080,674		2,541,741
Restricted cash		2,994,408		3,493,321		491,083
Short-term investments		37,057,554		26,729,065		3,757,512
Trade and notes receivable		2,797,805		4,384,009		616,294
Amounts due from related parties		1,551,334		1,754,279		246,613
Inventory		2,056,352		6,671,568		937,874
Prepayments and other current assets		1,850,143		1,944,863		273,405
Total current assets		63,641,315		63,057,779		8,864,522
Non-current assets:
Long-term restricted cash		46,437		65,732		9,240
Property, plant and equipment, net		7,399,516		12,777,076		1,796,173
Land use rights, net		199,121		213,929		30,074
Long-term investments		3,059,383		5,982,684		841,032
Right-of-use assets - operating lease		2,988,374		7,505,429		1,055,097
Other non-current assets		5,549,455		7,274,586		1,022,645
Total non-current assets		19,242,286		33,819,436		4,754,261
Total assets		82,883,601		96,877,215		13,618,783
LIABILITIES
Current liabilities:
Short-term borrowings		5,230,000		5,039,210		708,401
Trade and notes payable		12,638,991		20,367,423		2,863,207
Amounts due to related parties		687,200		478,745		67,301
Taxes payable		627,794		207,715		29,200
Current portion of operating lease liabilities		744,561		831,617		116,907
Current portion of long-term borrowings		2,067,962		1,768,304		248,584
Accruals and other liabilities		7,201,644		11,036,414		1,551,474
Total current liabilities		29,198,152		39,729,428		5,585,074
Non-current liabilities:
Long-term borrowings		9,739,176		12,537,116		1,762,440
Non-current operating lease liabilities		2,317,193		6,825,488		959,512
Deferred tax liabilities		25,199		216,598		30,449
Other non-current liabilities		3,540,458		4,704,302		661,320
Total non-current liabilities		15,622,026		24,283,504		3,413,721
Total liabilities		44,820,178		64,012,932		8,998,795
MEZZANINE EQUITY
Redeemable non-controlling interests		3,277,866		3,484,640		489,863
Total mezzanine equity		3,277,866		3,484,640		489,863
SHAREHOLDERS’ EQUITY
Total NIO Inc. shareholders’ equity		34,709,924		29,133,646		4,095,543
Non-controlling interests		75,633		245,997		34,582
Total shareholders’ equity		34,785,557		29,379,643		4,130,125
Total liabilities, mezzanine equity and shareholders’ equity		82,883,601		96,877,215		13,618,783

	Three Months Ended
	September 30, 2021			June 30, 2022			September 30, 2022			September 30, 2022
	RMB			RMB			RMB			US$
Revenues:
Vehicle sales		8,636,765			9,570,842			11,932,709			1,677,474
Other sales		1,168,536			721,522			1,069,386			150,332
Total revenues		9,805,301			10,292,364			13,002,095			1,827,806
Cost of sales:
Vehicle sales		(7,078,180	)		(7,976,625	)		(9,978,261	)		(1,402,722	)
Other sales		(733,959	)		(975,436	)		(1,288,741	)		(181,168	)
Total cost of sales		(7,812,139	)		(8,952,061	)		(11,267,002	)		(1,583,890	)
Gross profit		1,993,162			1,340,303			1,735,093			243,916
Operating expenses:
Research and development		(1,193,122	)		(2,149,479	)		(2,944,517	)		(413,934	)
Selling, general and administrative		(1,824,875	)		(2,282,461	)		(2,712,483	)		(381,315	)
Other operating income		32,910			246,077			51,607			7,255
Total operating expenses		(2,985,087	)		(4,185,863	)		(5,605,393	)		(787,994	)
Loss from operations		(991,925	)		(2,845,560	)		(3,870,300	)		(544,078	)
Interest and investment income		240,120			292,863			313,208			44,030
Interest expenses		(77,190	)		(64,712	)		(100,564	)		(14,137	)
Share of (loss)/income of equity investees		(35,631	)		48,053			52,054			7,318
Other income/(losses), net		32,574			(189,955	)		(495,582	)		(69,668	)
Loss before income tax expense		(832,052	)		(2,759,311	)		(4,101,184	)		(576,535	)
Income tax (expense)/benefit		(3,250	)		1,791			(9,639	)		(1,355	)
Net loss		(835,302	)		(2,757,520	)		(4,110,823	)		(577,890	)
Accretion on redeemable non-controlling interests to redemption value		(2,023,534	)		(68,899	)		(71,100	)		(9,995	)
Net (income)/loss attributable to non-controlling interests		(14	)		81,411			39,603			5,567
Net loss attributable to ordinary shareholders of NIO Inc.		(2,858,850	)		(2,745,008	)		(4,142,320	)		(582,318	)

Net loss		(835,302	)		(2,757,520	)		(4,110,823	)		(577,890	)
Other comprehensive income
Change in unrealized gains related to available-for-sale debt securities, net of tax		—			(4,999	)		32,727			4,601
Change in unrealized losses on cash flow hedges		—			(20	)		(797	)		(112	)
Foreign currency translation adjustment, net of nil tax		19,912			490,549			400,386			56,285
Total other comprehensive income		19,912			485,530			432,316			60,774
Total comprehensive loss		(815,390	)		(2,271,990	)		(3,678,507	)		(517,116	)
Accretion on redeemable non-controlling interests to redemption value		(2,023,534	)		(68,899	)		(71,100	)		(9,995	)
Net (income)/ loss attributable to non-controlling interests		(14	)		81,411			39,603			5,567
Other comprehensive income attributable to non-controlling interests		—			—			(6,387	)		(898	)
Comprehensive loss attributable to ordinary shareholders of NIO Inc.		(2,838,938	)		(2,259,478	)		(3,716,391	)		(522,442	)
Weighted average number of ordinary shares used in computing net loss per share
Basic and diluted		1,567,807,244			1,632,803,993			1,640,001,909			1,640,001,909
Net loss per share attributable to ordinary shareholders
Basic and diluted		(1.82	)		(1.68	)		(2.53	)		(0.36	)
Weighted average number of ADS used in computing net loss per share
Basic and diluted		1,567,807,244			1,632,803,993			1,640,001,909			1,640,001,909
Net loss per ADS attributable to ordinary shareholders
Basic and diluted		(1.82	)		(1.68	)		(2.53	)		(0.36	)

	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 attributable to ordinary shareholders, basic and diluted (RMB)		(2.53	)		0.37		0.05		(2.11	)
Net loss per ADS attributable to ordinary shareholders, basic and diluted (RMB)		(2.53	)		0.37		0.05		(2.11	)
Net loss per ADS attributable to ordinary shareholders, basic and diluted (USD)		(0.36	)		0.05		0.01		(0.30	)

	Three Months Ended June 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		(8,952,061	)		14,227		—		(8,937,834	)
Research and development expenses		(2,149,479	)		275,894		—		(1,873,585	)
Selling, general and administrative expenses		(2,282,461	)		200,382		—		(2,082,079	)
Total		(13,384,001	)		490,503		—		(12,893,498	)
Loss from operations		(2,845,560	)		490,503		—		(2,355,057	)
Net loss		(2,757,520	)		490,503		—		(2,267,017	)
Net loss attributable to ordinary shareholders of NIO Inc.		(2,745,008	)		490,503		68,899		(2,185,606	)
Net loss per share attributable to ordinary shareholders, basic and diluted (RMB)		(1.68	)		0.30		0.04		(1.34	)
Net loss per ADS attributable to ordinary shareholders, basic and diluted (RMB)		(1.68	)		0.30		0.04		(1.34	)

	Three Months Ended September 30, 2021
	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		(7,812,139	)		10,021		—		(7,802,118	)
Research and development expenses		(1,193,122	)		98,170		—		(1,094,952	)
Selling, general and administrative expenses		(1,824,875	)		157,400		—		(1,667,475	)
Total		(10,830,136	)		265,591		—		(10,564,545	)
Loss from operations		(991,925	)		265,591		—		(726,334	)
Net loss		(835,302	)		265,591		—		(569,711	)
Net loss attributable to ordinary shareholders of NIO Inc.		(2,858,850	)		265,591		2,023,534		(569,725	)
Net loss per share attributable to ordinary shareholders, basic and diluted (RMB)		(1.82	)		0.17		1.29		(0.36	)
Net loss per ADS attributable to ordinary shareholders, basic and diluted (RMB)		(1.82	)		0.17		1.29		(0.36	)