FX.co ★ 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.

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.