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Category: NIO Inc (NIO)
Date: 24 August 2020 Stock price of NIO - ADR: $14.12 We take a look at the 2nd quarter 2020 earnings report of NIO (NIO) a Chinese manufacture of premium electric vehicles with ADR's listed on the New York Stock Exchange. The group reported 322% year on year growth in vehicle deliveries for their latest quarter
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Despite the challenges of the COVID-19 global pandemic, we were still able to achieve a strong start to the year "
More About NIO Inc.
NIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO designs, jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next generation technologies in connectivity, autonomous driving and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive, convenient and innovative charging solutions and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began the first deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium smart electric coupe SUV, in December 2019 and plans to commence deliveries in 2020.
Overview of NIO's latest financial results
The data below refers to their 2nd quarter 2020 earnings report:
Deliveries of vehicles were 10,331 in the second quarter of 2020, including 8,068 ES6s and 2,263 ES8s, compared with 3,553 vehicles delivered in the second quarter of 2019 and 3,838 vehicles delivered in the first quarter of 2020.
- Vehicle Sales in US $ : 493.4 million
- Vehicle Margin: 9.7%
- Gross profit: $44.3 million
- Net loss: -$166.5 million
- Net loss per share: -$0.16
Deliveries of vehicles were 10,331 in the second quarter of 2020, including 8,068 ES6s and 2,263 ES8s, compared with 3,553 vehicles delivered in the second quarter of 2019 and 3,838 vehicles delivered in the first quarter of 2020.
Business Outlook
For the third quarter of 2020, the Company expects:
For the third quarter of 2020, the Company expects:
- Deliveries of the vehicles to be between 11,000 and 11,500 vehicles, representing an increase of approximately 129.2% to 139.6% from the same quarter of 2019, and an increase of approximately 6.5% to 11.3% from the second quarter of 2020.
- Total revenues to be between RMB4,047.5 million (US$572.9 million) and RMB4,212.3 million (US$596.2 million), representing an increase of approximately 120.4% to 129.3% from the same quarter of 2019, and an increase of approximately 8.8% to 13.3% from the second quarter of 2020.
NIO Inc (NIO) stock price history
The image below shows the stock price history of NIO Inc (NIO) over the last 2 odd years. And its been a pretty wild ride of NIO stockholders. Over the 2 year period the stock of NIO has provided a return of 114% to its stockholders.
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