Nio Inc (NIO): seguimiento de la acción

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#16

Resultados NIO

SHANGHAI, China, Nov. 17, 2020 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today announced its unaudited financial results for the quarter ended September 30, 2020.

Operating Highlights for the Third Quarter of 2020

  • Deliveries of vehicles were 12,206 in the third quarter of 2020, including 8,660 ES6s, 3,530 ES8s and 16 EC6s, compared with 4,799 vehicles delivered in the third quarter of 2019 and 10,331 vehicles delivered in the second quarter of 2020.

Key Operating Results


Financial Highlights for the Third Quarter of 2020

  • Vehicle sales were RMB4,266.8 million (US$628.4 million) in the third quarter of 2020, representing an increase of 146.1% from the third quarter of 2019 and an increase of 22.4% from the second quarter of 2020.
  • Vehicle marginii was 14.5% in the third quarter of 2020, compared with negative 6.8% in the third quarter of 2019 and 9.7% in the second quarter of 2020.
  • Total revenues were RMB4,526.0 million (US$666.6 million) in the third quarter of 2020, representing an increase of 146.4% from the third quarter of 2019 and an increase of 21.7% from the second quarter of 2020.
  • Gross profit was RMB585.8 million (US$86.3 million) in the third quarter of 2020, representing an increase of RMB807.4 million from a gross loss of RMB221.6 million in the third quarter of 2019 and an increase of RMB272.7 million from the second quarter of 2020.
  • Gross margin was 12.9% in the third quarter of 2020, compared with negative 12.1% in the third quarter of 2019 and 8.4% in the second quarter of 2020.
  • Loss from operations was RMB946.0 million (US$139.3 million) in the third quarter of 2020, representing a decrease of 60.7% from the third quarter of 2019 and a decrease of 18.4% from the second quarter of 2020. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB896.7 million (US$132.1 million) in the third quarter of 2020, representing a decrease of 61.7 % from the third quarter of 2019 and a decrease of 19.6% from the second quarter of 2020.
  • Net loss was RMB1,047.0 million (US$154.2 million) in the third quarter of 2020, representing a decrease of 58.5% from the third quarter of 2019 and a decrease of 11.0% from the second quarter of 2020. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB997.8 million (US$147.0 million) in the third quarter of 2020, representing a decrease of 59.3% from the third quarter of 2019 and a decrease of 11.8% from the second quarter of 2020.
  • Net loss attributable to NIO’s ordinary shareholders was RMB1,187.9 million (US$175.0 million) in the third quarter of 2020, representing a decrease of 53.5% from the third quarter of 2019 and a decrease of 1.6% from the second quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO’s ordinary shareholders (non-GAAP) was RMB996.0 million (US$146.7 million).
  • Basic and diluted net loss per American Depositary Share (ADS)iii were both RMB0.98 (US$0.14) in the third quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per ADS (non-GAAP) were both RMB0.82 (US$0.12).
  • Cash and cash equivalents, restricted cash and short-term investment were RMB22.2 billion (US$3.3 billion) as of September 30, 2020.
Key Financial Results




Recent Developments

Deliveries in October 2020

  • Deliveries of the ES8, ES6 and EC6 were 5,055 vehicles in October 2020, representing a strong 100.1% year-over-year growth. As of October 31, 2020, cumulative deliveries of the ES8, ES6 and EC6 reached 63,343 vehicles, of which 31,430 were delivered in 2020.

Launch of 100kWh Battery Pack

  • On November 6, 2020, NIO launched the 100kWh battery pack with battery upgrade plans. The 100kWh cell-to-pack battery pack has realized 37% higher energy density than the 70kWh battery. Powered by the 100kWh battery, the NEDC range of NIO EC6 can reach up to 615 kilometers. The outstanding performance of the 100kWh battery is underpinned by technological advancements including thermal propagation prevention design, highly-integrated architecture, all-climate thermal management and bi-directional cloud battery management system.

    If users opt to purchase an ES8, ES6 or EC6 and subscribe for the 100kWh battery pack under the innovative Battery as a Service (the “BaaS”) model, they can purchase the vehicle without the battery pack while paying a monthly subscription fee of RMB1,480. Users of the 70kWh battery pack can choose to either purchase a 100kWh battery pack for permanent upgrades or pay a monthly subscription fee of RMB880 for a flexible upgrade package.

Completion of Registered Follow-on Offering of American Depositary Shares

  • In September 2020, NIO completed the offering of 101,775,000 American depositary shares, each representing one Class A ordinary share of the Company, at a price of US$17.00 per ADS, which included 13,275,000 American depositary shares issued in connection with the underwriters’ full exercise of their overallotment option.

Completion of Increase of Controlling Equity Interests in NIO China

  • In September 2020, NIO completed the increase of its controlling equity interests in NIO China through the partial redemption of certain investor’s equity interests and the subscription for newly increased registered capital. The Company currently holds 86.5% controlling equity interests in NIO Holding Co., Ltd. (formerly named NIO (Anhui) Holding Co., Ltd.) (“NIO Holding”), the legal entity of NIO China.

Completion of Redemption of Equity Interests in XPT from Minority Shareholders

  • In November, NIO, through its wholly owned subsidiary, completed the full redemption of equity interests in XPT (Jiangsu) Automotive Technology Co., Ltd., or XPT, held by each of its minority shareholders. As a result, NIO redeemed a total of 21.09% equity interests in XPT and now indirectly wholly owns XPT. Established in May 2018, XPT mainly designs, develops and manufactures electric motors, battery packs and other smart electric vehicle components.

CEO and CFO Comments

“We achieved a new record-high quarterly deliveries of 12,206 ES8s, ES6s and EC6s in total in the third quarter of 2020, followed by the best-ever monthly deliveries of 5,055 vehicles in October,” said William Bin Li, founder, chairman and chief executive officer of NIO. “In view of the growing market demand for our competitive products, we are motivated to continuously elevate the production capacity to the next level. We expect to deliver 16,500 to 17,000 vehicles in the coming fourth quarter.”

“In the past months, we are pleased to have launched the BaaS and the 100kWh battery pack with proprietary thermal management and significant performance enhancement. Enabled by our unique battery swap technologies, innovative BaaS model and comprehensive power solutions, our users can benefit from lower initial purchase prices of vehicles, flexible battery upgrade options as well as enhanced assurance of battery performance. Additionally, following the release of the NIO OS 2.7.0 via firmware-over-the-air (FOTA) upgrade in October 2020, our users have been able to enjoy the Navigate on Pilot (NoP) feature of NIO Pilot on highways and urban expressways in China. Going forward, we remain committed to deploying more resources into the core technology innovations and delivering the best holistic product and service experiences to our user community in the pursuit of fortifying our long-term competitiveness in the market,” concluded Mr. Li.

“With another quarter of record high deliveries in the third quarter of 2020, plus further improvements in average selling price, material cost and manufacturing efficiency, our vehicle margin increased to 14.5%. Additionally, we achieved positive cash flow from operating activities for the second sequential quarter,” added Steven Wei Feng, NIO’s chief financial officer. “Our order growth momentum continued steadfastly, driven by the expanded brand awareness, growing user base, extended sales network and most importantly, the compelling products and technologies. Meanwhile, our continuous improvement of operational efficiency, cash flow and balance sheet has laid a solid foundation for our future sustainable growth and decisive investments in technologies."

Financial Results for the Third Quarter of 2020

Revenues

  • Total revenues were RMB4,526.0 million (US$666.6 million) in the third quarter of 2020, representing an increase of 146.4% from the third quarter of 2019 and an increase of 21.7% from the second quarter of 2020.        

  • Vehicle sales were RMB4,266.8 million (US$628.4 million) in the third quarter of 2020, representing an increase of 146.1% from the third quarter of 2019 and an increase of 22.4% from the second quarter of 2020. The increase in vehicle sales of the third quarter of 2020, compared to the third quarter of 2019 and the second quarter of 2020, was mainly contributed by the increase in sales of the ES6 and ES8.

  • Other sales were RMB259.2 million (US$38.2 million) in the third quarter of 2020, representing an increase of 150.7% from the third quarter of 2019 and an increase of 11.3% from the second quarter of 2020. The increase in other sales of the third quarter of 2020, compared to the third quarter of 2019, was mainly attributed to increased revenues derived from the home chargers installed, service package and energy package subscribed, and accessories sold, which were in line with the increased vehicle sales in the third quarter of 2020.

Cost of Sales and Gross Margin

  • Cost of sales was RMB3,940.1 million (US$580.3 million) in the third quarter of 2020, representing an increase of 91.4% from the third quarter of 2019 and an increase of 15.7% from the second quarter of 2020. The increase in cost of sales, compared to the third quarter of 2019, was mainly driven by the increase of delivery volume of the ES6 and ES8 in the third quarter of 2020.

  • Gross profit was RMB585.8 million (US$86.3 million) in the third quarter of 2020, representing an increase of RMB807.4 million from a gross loss of RMB221.6 million in the third quarter of 2019 and an increase of RMB272.7 million from the second quarter of 2020. The increase of gross profit, compared to the third quarter of 2019, was mainly contributed by increased vehicle sales and increased vehicle margin.

  • Gross margin in the third quarter of 2020 was 12.9%, compared with negative 12.1% in the third quarter of 2019 and 8.4% in the second quarter of 2020. The increase of gross margin, compared to the third quarter of 2019, was mainly driven by the increase of vehicle margin in the third quarter of 2020.

  • Vehicle margin in the third quarter of 2020 was 14.5%, compared with negative 6.8% in the third quarter of 2019 and 9.7% in the second quarter of 2020. The increase of vehicle margin, compared to the third quarter of 2019 and the second quarter of 2020, was mainly driven by the decrease in purchase price of certain materials and lower unit manufacturing cost attributed from increased production volume of the ES6 and ES8 in the third quarter of 2020.

Operating Expenses

  • Research and development expenses were RMB590.8 million (US$87.0 million) in the third quarter of 2020, representing a decrease of 42.3% from the third quarter of 2019 and an increase of 8.4% from the second quarter of 2020. Excluding share-based compensation expenses (non-GAAP), research and development expenses were RMB577.8 million (US$85.1 million) in the third quarter of 2020, representing a decrease of 42.4% from the third quarter of 2019 and an increase of 8.3% from the second quarter of 2020. The decrease in research and development expenses over the third quarter of 2019 was primarily attributed to the higher design and development costs incurred in the third quarter of 2019 for EC6 and all-new ES8 launched in the fourth quarter of 2019, and the Company’s overall cost-saving efforts and the improved operational efficiency in research and development functions since the fourth quarter of 2019. Research and development expenses remained relatively stable compared with the second quarter of 2020, which mainly consisted of costs incurred for recurring projects.

  • Selling, general and administrative expenses were RMB940.3 million (US$138.5 million) in the third quarter of 2020, representing a decrease of 19.2% from the third quarter of 2019 and an increase of 0.4% from the second quarter of 2020. Excluding share-based compensation expenses (non-GAAP), selling, general and administrative expenses were RMB905.5 million (US$133.4 million) in the third quarter of 2020, representing a decrease of 18.9% from the third quarter of 2019 and an increase of 0.1% from the second quarter of 2020. The decrease in selling, general and administrative expenses over the third quarter of 2019 was primarily driven by the Company’s overall cost-saving efforts and the improved operational efficiency in marketing and other supporting functions. Selling, general and administrative expenses remained relatively stable compared with the second quarter of 2020.

Loss
from Operations

  • Loss from operations was RMB946.0 million (US$139.3 million) in the third quarter of 2020, representing a decrease of 60.7% from the third quarter of 2019 and a decrease of 18.4% from the second quarter of 2020. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB896.7 million (US$132.1 million) in the third quarter of 2020, representing a decrease of 61.7% from the third quarter of 2019 and a decrease of 19.6% from the second quarter of 2020.

Share-based Compensation Expenses

  • Share-based compensation expenses were RMB49.2 million (US$7.3 million) in the third quarter of 2020, representing a decrease of 30.1% from the third quarter of 2019 and an increase of 8.6% from the second quarter of 2020. The decrease in share-based compensation expenses over the third quarter of 2019 was primarily due to less options granted driven by the decline in the number of employees, and the impact of part of the share-based compensation expenses being recognized by using the accelerated method, under which the expenses decrease gradually over the vesting period. The increase in share-based compensation expenses over the second quarter of 2020 was primarily attributed to the incremental options granted in the third quarter of 2020 with relatively higher grant date fair values due to the increased share price.

Net Loss and Earnings Per Share

  • Net loss was RMB1,047.0 million (US$154.2 million) in the third quarter of 2020, representing a decrease of 58.5% from the third quarter of 2019 and a decrease of 11.0% from the second quarter of 2020. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB997.8 million (US$147.0 million) in the third quarter of 2020, representing a decrease of 59.3% from the third quarter of 2019 and a decrease of 11.8% from the second quarter of 2020.
  • Net loss attributable to NIO’s ordinary shareholders was RMB1,187.9 million (US$175.0 million) in the third quarter of 2020, representing a decrease of 53.5% from the third quarter of 2019 and a decrease of 1.6% from the second quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO’s ordinary shareholders (non-GAAP) was RMB996.0 million (US$146.7 million).

  • Basic and diluted net loss per ADS were both RMB0.98 (US$0.14) in the third quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per ADS (non-GAAP) were both RMB0.82 (US$0.12).

Balance Sheets

  • Balance of cash and cash equivalents, restricted cash and short-term investment was RMB22.2 billion (US$3.3 billion) as of September 30, 2020.

  • In the third quarter of 2020, certain convertible notes were exercised by their holders with the aggregate amount of RMB3.1 billion (US$460.9 million).

Business Outlook

For the fourth quarter of 2020, the Company expects:

  • Deliveries of the vehicles to be between 16,500 and 17,000 vehicles, representing an increase of approximately 100.6% to 106.7% from the same quarter of 2019, and an increase of approximately 35.2% to 39.3% from the third quarter of 2020.

  • Total revenues to be between RMB6,258.7 million (US$921.8 million) and RMB6,435.8 million (US$947.9 million), representing an increase of approximately 119.7% to 126.0% from the same quarter of 2019, and an increase of approximately 38.3% to 42.2% from the third quarter of 2020.

This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.

Conference Call

The Company’s management will host an earnings conference call at 7:00 PM U.S. Eastern Time on November 17, 2020 (8:00 AM Beijing/Hong Kong Time on November 18, 2020) to discuss financial results and answer questions from investors and analysts. Listeners may register in advance of the conference using the link provided below and dial in 10 minutes prior to the call, using participant dial-in numbers, Direct Event passcode and unique registrant ID which would be provided upon registering.

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#17

Re: Nio Inc (NIO): seguimiento de la acción

Buenas noches

Lo de Nio en el día de hoy es para flipar. Ha roto ese máximo histórico de los 54$ . Queda muy poco para el cierre, pero lleva más de un 12% de subida en un inicio de semana que promete ser interesante. Yo estoy dentro desde los 44$ de la pasada semana. Ya veremos cuando vendrá la corrección porque tendrá que venir, pero lo importante es tener un buen colchón del precio de entrada.

Saludos
#18

Re: Nio Inc (NIO): seguimiento de la acción

Buenas noches

Pues hubiera sido muy interesante. De momento el que se lleva el laurel de campeón es Xpeng. En tres sesiones ha subido cerca de un 60%. Es para flipar en colores. Siempre ha ido por detrás de Nio y ahora , en dos sesiones, le saca una ventaja de casi 20$. Lo de hoy con estos dos valores es de flipe.

Saludos
#19

Re: Nio Inc (NIO): seguimiento de la acción

Yo estoy dentro solo de Xpev, pero más adelante si puedo compro NIO también...
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#20

Re: Nio Inc (NIO): seguimiento de la acción

Cierre en los 55,51$ ,  un + 12,71%, con un nuevo máximo histórico

 
 Saludos y a por el martes
#21

Re: Nio Inc (NIO): seguimiento de la acción

Buenas noches

Mis felicitaciones Tywin. Hoy le has sacado una buena tajada y eso que Xpeng hace pocas sesiones miraba el cogote de Nio. Así son las cosas.

Saludos y veremos que nos deparan mañana los coches eléctricos. Espero que no haya sorpresa correctiva y sigan las subidas y así animamos el foro, que está algo apagadillo.
#22

Re: Nio Inc (NIO): seguimiento de la acción

Pues si lo de Xpev nunca me lo hubiera imaginado, la he comprado en varios paquetes desde 25 en adelante, el último hoy mismo, que ya le gano más de un 30%...

Pero con estas hay que ir con pies de plomo que como suben, luego bajan...

Aún así hasta pillar a Tesla tinenen mucho recorrido...
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#23

Re: Nio Inc (NIO): seguimiento de la acción

Mucha suerte amigo Tywin.

Mañana martes veremos lo que pasa.

Saludos
#24

Re: Nio Inc (NIO): seguimiento de la acción

Buenos días,

Para no quedarme con cara de tonto hace 2-3 semanas compre NIO a 41,73 y la semana pasada XPeng a 48,50. Ya las llevo con un +33 y +49. 

Cierto es que entré con muy muy poco capital ya que andaba-ando temeroso de una fuerte corrección. 

Decidí dedicar un % de mi cartera a posiciones "especulativas" También entre en Palantir y Futu Holdings. Veremos cómo estamos en unos meses. Lleváis alguna otra empresa de estas que hace un x3 en un mes o que creéis que pueda hacerlo? 

Un saludo. 
#26

Re: Nio Inc (NIO): seguimiento de la acción

La verdad es que cada vez pesan en capitalización estas compañías...pero es que es el futuro...
#27

Re: Nio Inc (NIO): seguimiento de la acción

Buenas noches

El pasado viernes duró poco tiempo la sesión ya que cerró a las 7 de la tarde hora española. El cierre fue de 54$. La próxima semana promete ser interesante.


 11/20/2020 | 11/23/2020 | 11/24/2020 | 11/25/2020 | 11/27/2020 | Date
49.25(c) | 55.38(c) | 53.51(c) | 53.69(c) | 54(c) | Last
209 106 333 | 270 203 004 | 243 669 739 | 204 508 537 | 105 736 150 | Volume
+1.65% | +12.45% | -3.38% | +0.34% | +0.58% | Change

En las últimas 5 sesiones ha subido un 11,64%


Tiene una resistencia importante en la zona de 55,40$. El primer soporte fuerte lo tiene un poco alejado del cierre actual. en el rango de 37,95$

Saludos y a por el lunes
#28

Re: Nio Inc (NIO): seguimiento de la acción

Buenos días

 

Así es el Tesla chino ‘low cost’ que está batiendo todos los récords de ventas



A la marca estadounidense de automóviles eléctricos Tesla le sale un duro competidor que no tardará en ponerlo contra las cuerdas



Musk insinúa que Tesla prevé contratar diseñadores e ingenieros en Europa conforme vayan terminando la construcción de su fábrica en Alemania.


A Tesla le ha salido un durísimo competidor en China. Se trata del fabricante NIO, una marca que se dedica a la elaboración de modelos eléctricos premium que en los últimos meses ha pegado una subida a tener muy en cuenta. Es ya la principal competidora de la firma norteamericana en el gigante asiático.
Hasta hace unos meses, NIO no atravesaba un buen momento, ni mucho menos. Las ventas no remontaban y las pérdidas se acumulaban peligrosamente.

NIO amenaza a Tesla


Pero de un año hacia aquí la empresa ha llevado a cabo una reestructuración y los resultados no han podido ser más satisfactorios. No solo se han recuperado completamente de su crisis, sino que el valor de sus acciones ha superado al de General Motors, otra de las marcas más potentes en China.


Una notable mejoría que se debe a varios factores. Uno de ellos es el lanzamiento de nuevos modelos, lo que ha abierto el target de sus clientes, haciéndolo llegar a conductores que ni siquiera conocían la marca.

La estrategia de NIO lo cambia todo



Por otro lado, NIO cuenta con un servicio de alquiler de baterías, lo que reduce el precio final de los modelos. Además, la firma dispone de una red de estaciones de intercambio de baterías, lo que permite a los clientes no tener que esperar a tener cargado el coche para seguir la marcha.
Y lo más sorprendente: algunos coches cuentan con cargador, lo que permite recargar las baterías de otros coches que se hayan quedado sin y no puedan llegar a un punto de carga.

Respecto a su competencia con Tesla, NIO todavía está lejos de las ventas que registra la firma estadounidense. El mes pasado se matricularon 5.000 unidades, por las 11.000 unidades vendidas de Tesla. No obstante, la cifra de NIO es creciente, y no tardarán en ponerse a la altura de Tesla.

Fuente.- Economía Digital
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#29

Re: Nio Inc (NIO): seguimiento de la acción

Hoy toca gorrazo para NIO y Xpeng. A ver si mañana reaccionan
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