Today $NIO-SW (09866.HK)$ In the disclosure of the 2023 third quarter financial report, overall, Nio's third quarter revenue was 19.067 billion yuan, a year-on-year increase of 46.6%, but the loss reached 4.557 billion yuan, a year-on-year expansion of 10%. The overall gross margin has improved to 8%. Overall, the financial report data is still below market expectations. The performance barely reached the lower limit of the previous Q3 guidance, and the Q4 guidance is also quite average. It has been 2 months since Q4, and the guidance shows that Nio's delivery volume in December is only at the level of 1.5-0.016 million. Nio's previous financial reports have been analyzed many times. The situation now is not much different from before. Interested parties can refer to the previous financial report interpretations. This time, let's focus on specific data, and pay attention to the information outside of the financial report in tonight's conference call.
1. Overall financial report situation
1. On the revenue side - hitting the bottom and rebounding, but the growth in Q4 is not very optimistic
Nio Inc's third-quarter revenue was 19.07 billion yuan, an increase of 46.6% year-on-year and 117.4% quarter-on-quarter, finally showing signs of hitting bottom and rebounding.In the third quarter, a total of 55,432 automobiles were delivered, the highest quarterly delivery volume in history. However, unfortunately, according to the guidance, the delivery volume in Q4 is expected to be lower than this. The unit price of the car dropped to 0.314 million, but it rebounded slightly compared to the second quarter, thanks to the increase in the proportion of the new ES6 model.
As I mentioned in the Q2 financial report, Q3 performance was basically low, and the 6K deliveries per month should be a thing of the past. Subsequent monthly deliveries should...