NIO net loss increased 295% YoY in Q1 2022
Nio published its financial report in the first quarter of 2022. The company was on track during this quarter and was not too influenced by COVID-19. NIO has also released several future plans related to this financial report.
On June 9, 2022, NIO (NIO: NYSE) released its financial report for the first quarter of 2022. During this quarter, the net loss was CNY 1.78 billion, up 295.3% from a year to year. The market expectation was 2.02 billion yuan. Total revenue was 10 billion yuan, a year-on-year increase of 24.2%. Its gross profit margin was 14.6%, compared to 19.5% in the same period last year. Its net loss attributable to its shareholders was CNY 1.83 billion, down 62.6% year-on-year.
As this financial report is also the first financial data of NIO, after its official listing in Singapore on May 20 this year, its financial data has been the subject of great attention and expectation from the public. According to this financial report, NIO achieved vehicle sales revenue of 9.24 billion yuan, up 24.8 percent year-on-year. Vehicle gross profit margin was 18.1% in the quarter. For comparison with previous quarters, Q1 2021 was 21.2%. This decrease is attributable to changes in product line ratios which resulted in lower average selling prices.
Meanwhile, NIO predicted that its vehicle deliveries in the second quarter of 2022 would be between 23,000 and 25,000, indicating an increase of approximately 5.0% to 14.2% year over year. . Its total revenue was CNY 9 billion to CNY 10 billion, indicating a year-on-year increase of 10.6% to 19.4%. As of June, the supply chain and production of vehicles is almost back to normal. Deliveries, especially for such important markets as Shanghai, were in line with their forecasts. NIO will also accelerate the production and delivery of its vehicles.
There are sayings that NIO is in talks to cooperate with AMD. Whether or not NIO cooperates with AMD could be a chance to reach a higher level of activity. NIO is also working on researching and creating a new product. The new product will use the battery created by NIO itself. And it is scheduled to release later in 2024.