NIO Inc. (“NIO” or the “Company”), a pioneer in China’s premium smart electric vehicle market, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020.
Operating Highlights for the Fourth Quarter and Full Year 2020
- Deliveries of vehicles were 17,353 in the fourth quarter of 2020, including 4,873 ES8s, 7,574 ES6s and 4,906 EC6s, compared with 8,224 in the fourth quarter of 2019 and 12,206 vehicles delivered in the third quarter of 2020.
- Deliveries of vehicles were 43,728 in 2020, compared with 20,565 vehicles delivered in 2019.
| Key Operating Results | ||||
| 2020 Q4 | 2020 Q3 | 2020 Q2 | 2020 Q1 | |
| Deliveries | 17,353 | 12,206 | 10,331 | 3,838 |
| 2019 Q4 | 2019 Q3 | 2019 Q2 | 2019 Q1 | |
| Deliveries | 8,224 | 4,799 | 3,553 | 3,989 |
| Financial Highlights for the Fourth Quarter of 2020 |
- Vehicle sales were RMB6,174.0 million (US$946.2 million) in the fourth quarter of 2020, representing an increase of 130.0% from the fourth quarter of 2019 and an increase of 44.7% from the third quarter of 2020.
- Vehicle marginii was 17.2% in the fourth quarter of 2020, compared with negative 6.0% in the fourth quarter of 2019 and 14.5% in the third quarter of 2020.
- Total revenues were RMB6,641.1 million (US$1,017.8 million) in the fourth quarter of 2020, representing an increase of 133.2% from the fourth quarter of 2019 and an increase of 46.7% from the third quarter of 2020.
- Gross profit was RMB1,141.9 million (US$175.0 million) in the fourth quarter of 2020, representing an increase of RMB1,395.7 million from a gross loss of RMB253.8 million in the fourth quarter of 2019 and an increase of RMB556.1 million from the third quarter of 2020.
- Gross margin was 17.2% in the fourth quarter of 2020, compared with negative 8.9% in the fourth quarter of 2019 and 12.9% in the third quarter of 2020.
- Loss from operations was RMB931.4 million (US$142.7 million) in the fourth quarter of 2020, representing a decrease of 67.0% from the fourth quarter of 2019 and a decrease of 1.5% from the third quarter of 2020. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB871.2 million (US$133.5 million) in the fourth quarter of 2020, representing a decrease of 68.6% from the fourth quarter of 2019 and a decrease of 2.9% from the third quarter of 2020.
- Net loss was RMB1,388.6 million (US$212.8 million) in the fourth quarter of 2020, representing a decrease of 51.5% from the fourth quarter of 2019 and an increase of 32.6% from the third quarter of 2020. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB 1,328.4 million (US$203.6 million) in the fourth quarter of 2020, representing a decrease of 52.8% from the fourth quarter of 2019 and an increase of 33.1% from the third quarter of 2020.
- Net loss attributable to NIO’s ordinary shareholders was RMB1,492.2 million (US$228.7 million) in the fourth quarter of 2020, representing a decrease of 48.4% from the fourth quarter of 2019 and an increase of 25.6% from the third 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 RMB1,326.2 million (US$203.2 million).
- Basic and diluted net loss per American Depositary Share (ADS)iii were both RMB1.05 (US$0.16) in the fourth 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 RMB0.93 (US$0.14).
- Cash and cash equivalents, restricted cash and short-term investment were RMB42.5 billion (US$6.5 billion) as of December 31, 2020.
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SOURCE: NIO
