NIO Reports Unaudited Second Quarter 2024 Financial Results

·   Total revenues were RMB17,446.0 million (US$2,400.6 million) in the second quarter of 2024, representing an increase of 98.9% from the second quarter of 2023 and an increase of 76.1% from the first quarter of 2024.

·   Vehicle deliveries were 57,373 in the second quarter of 2024, representing an increase of 143.9% from the second quarter of 2023, and an increase of 90.9% from the first quarter of 2024.

·   Vehicle margin was 12.2% in the second quarter of 2024, representing an increase of 6% from the second quarter of 2023 and an increase of 3% from the first quarter of 2024.

·   Research and development expenses in the second quarter of 2024 were RMB3,218.5 million (US$442.9 million), and balance of cash and cash equivalents, restricted cash, short-term investment and long-term time deposits was RMB41.6 billion (US$5.7 billion) as of June 30, 2024.

·   The loss has significantly narrowed year-on-year by 16.7%.

For the third quarter of 2024, NIO expects:

·   Deliveries of vehicles to be between 61,000 and 63,000 units, representing an increase of approximately 10.0% to 13.7% from the same quarter of 2023.

·   Total revenues to be between RMB19,109 million (US$2,630 million) and RMB19,669 million (US$2,707 million).