NIO's revenue in 2023 reaches a new high of 55.62 billion yuan, a year-on-year increase of 12.9%

According to news from this site on March 5, NIO released its fourth quarter and full-year financial report for 2023. The financial report shows that NIO’s revenue in the fourth quarter was 17.10 billion yuan, a year-on-year increase of 6.5%; the net loss was 5.3677 billion yuan, a year-on-year loss reduction of 7.2%, and a quarter-on-quarter increase of 17.8%. Not in accordance with U.S. GAAP, the adjusted net loss was 4.8017 billion yuan, a year-on-year decrease of 5.2% and a month-on-month increase of 21.5%.

In the fourth quarter of 2023, Weilai Automobile’s gross profit margin reached 11.9%, which is the second consecutive quarter of double digits increase. At the same time, the company's cash reserves reached 57.3 billion yuan, an increase of 12.1 billion yuan from the previous quarter. In terms of research and development, NIO’s expenditure reached 3.97 billion yuan, remaining above 3 billion yuan for five consecutive quarters. These figures demonstrate NIO’s steady growth and momentum in both finance and innovation.

For the full year of 2023, NIO’s total revenue reached a new high of 55.62 billion yuan, a year-on-year increase of 12.9%; its net loss was 20.7198 billion yuan, an increase of 43.5% compared with 2022. Not in accordance with U.S. GAAP, the adjusted net loss was 18.3507 billion yuan, an increase of 51.1% compared with 2022. The annual R&D expenditure was 13.43 billion yuan, exceeding 10 billion yuan for two consecutive years.

NIO delivered 160,038 vehicles in 2023, a year-on-year increase of 30.7%; in the fourth quarter, it delivered a total of 50,045 vehicles, a year-on-year increase of 25.0%.

Weilai expects first-quarter revenue to be between 10.5 billion yuan and 11.09 billion yuan, slightly lower than market expectations of 15.74 billion yuan; delivery volume is expected to be between 31,000 and 33,000 vehicles, also Slightly lower than market expectations of 44,035 units.

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