NIO Inc. - CGS-CIMB Research 2022-09-08: Strong Electric Vehicle Delivery In 3Q/4Q On New Models

• NIO Inc. (SGX:NIO)’s 2Q22 revenue grew 22% y-o-y to RMB10.2bn, at the upper range of the company’s guidance, driven by 14% electric vehicles (EV) delivery growth and better product mix (vehicle ASP +6% y-o-y).
  • - Read this at SGinvestors.io -
  • SG&A (Selling, General, and Administrative) expenses rose 79% y-o-y (+15% q-o-q) to RMB4.19bn due to higher personnel costs, marketing and promotional expenses and R&D expenses ahead of the launches of the electric SUV (eSUV) ES7.
• NIO's 1H22 net loss (non-GAAP) was RMB4.43bn; we deem this in line with our FY22F forecast of RMB6.35bn net loss, as we expect strong EV deliveries in 4Q22F, thanks to robust ES7 and ET5 deliveries.
• - Read this at SGinvestors.io -
• NIO has guided for EV shipments in 3Q22F of between 31k and 33k (+27%-35% y-o-y, or +24-32% q-o-q), in line with our shipment forecast, thanks to the premium eSUV ES7 deliveries that started in Aug.
  • Read more at SGinvestors.io.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.

Read also CGS-CIMB's most recent report:
2023-12-06 NIO Inc - Profitability To Further Improve In FY24.

Previous report by CGS-CIMB:
2023-09-08 NIO Inc - EV Deliveries Set To Accelerate In 3Q/4Q23.

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