logo

FX.co ★ NIO Q3 Loss Widens; Total Revenues Down 2.1%

NIO Q3 Loss Widens; Total Revenues Down 2.1%

NIO, Inc., the Chinese manufacturer specializing in smart electric vehicles, disclosed its financial results for the third quarter on Wednesday. The company reported a significant increase in its net loss, which amounted to RMB 5.14 billion (or $732.68 million), compared to RMB 4.63 billion in the same period a year ago. The net loss per American Depositary Share (ADS) was RMB 2.50 (or $0.36), which is slightly better than a loss of RMB 2.67 recorded previously.

When adjusted for certain items, the net loss attributable to ordinary shareholders stood at RMB 4.40 billion (or $627.5 million), also widening from RMB 3.95 billion in the corresponding quarter last year. The adjusted net loss per ADS was RMB 2.14 (or $0.31), down from RMB 2.28.

Total revenue for the quarter reached RMB 18.67 billion (or $2.66 billion), marking a 2.1 percent decrease from the previous year's RMB 19.07 billion.

See also: Start Forex trading with a European level broker!

The company achieved vehicle deliveries totaling 61,855 units. This figure includes 61,023 vehicles from its premium smart electric NIO brand and 832 vehicles from its family-oriented smart electric brand ONVO, representing an 11.6 percent increase from 55,432 vehicles delivered in the previous year.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Open trading account