NIO(09866)2025-03-21 09:37Financial Performance - In Q4 2024, the total revenue reached RMB 19.703 billion (USD 2.699 billion), representing a 15.2% increase year-over-year and a 5.5% increase quarter-over-quarter[13]. - For the full year 2024, total revenue was RMB 65.732 billion (USD 9.005 billion), an 18.2% increase from the previous year[16]. - In Q4 2024, vehicle sales amounted to RMB 17.4756 billion (USD 2.3941 billion), up 13.2% year-over-year and 4.7% quarter-over-quarter[25]. - In 2024, total revenue reached RMB 65.7316 billion (USD 9.0052 billion), representing an 18.2% increase from the previous year[25]. - Total revenue for 2023 was RMB 55,617,933, an increase of 12.5% compared to RMB 49,257,270 in 2022[56]. Vehicle Deliveries - The total vehicle deliveries in Q4 2024 amounted to 72,689 units, a 45.2% increase compared to Q4 2023 and a 17.5% increase compared to Q3 2024[11]. - In January 2025, the company delivered 13,863 vehicles, and in February 2025, it delivered 13,192 vehicles, totaling 27,055 vehicles delivered in 2025, with cumulative deliveries reaching 698,619 vehicles[19]. - Vehicle deliveries are expected to be between 41,000 and 43,000 units in Q1 2025, representing an increase of approximately 36.4% to 43.1% year-over-year[36]. Profitability and Losses - The gross profit for Q4 2024 was RMB 2.309 billion (USD 316 million), an 80.5% increase year-over-year[13]. - The operating loss for Q4 2024 was RMB 6.033 billion (USD 826 million), a decrease of 8.9% compared to Q4 2023[13]. - The net loss for Q4 2024 was RMB 7.112 billion (USD 974 million), an increase of 32.5% year-over-year[13]. - The adjusted net loss for the full year 2024 was RMB 20.473 billion (USD 2.805 billion), an increase of 11.6% compared to the previous year[17]. - Total net loss for 2024 was RMB 22.4017 billion (3.069 billion), compared to RMB 20.7198 billion in 2023[32]. Cash and Assets - The cash and cash equivalents, restricted cash, short-term investments, and long-term deposits as of December 31, 2024, totaled RMB 41.9 billion (USD 5.7 billion)[13]. - NIO Group reported cash and cash equivalents of RMB 32,935,111 thousand as of December 31, 2023, down from RMB 19,328,920 thousand in 2024[49]. - NIO's total assets amounted to RMB 117,383,202 thousand as of December 31, 2023, decreasing to RMB 107,604,612 thousand in 2024[49]. Research and Development - R&D expenses for Q4 2024 were RMB 3.6358 billion (498.1 million), a decrease of 8.5% year-over-year and an increase of 9.6% from Q3 2024[30]. - Research and development expenses for Q4 2023 were RMB 3,972,127, compared to RMB 3,318,740 in Q3 2023, reflecting an increase of approximately 19.7%[53]. - Research and development expenses for 2023 were RMB 13,431,399, accounting for 24.1% of total revenue[56]. Strategic Initiatives - The company plans to enhance profitability in 2025 by focusing on cost reduction through technological advancements and operational efficiency[23]. - The new Firefly brand models are set to launch in April, playing a crucial role in the company's future international market expansion[23]. - The company aims to enhance its manufacturing capacity and expand its market presence through strategic partnerships and technological innovations[41]. - NIO is focused on developing new energy solutions, including battery swapping and subscription services, to meet evolving market demands[41]. Market Outlook - Total revenue for Q1 2025 is projected to be between RMB 12.367 billion (1.762 billion), reflecting a year-over-year growth of approximately 24.8% to 29.8%[36]. - The company plans to continue investing in new product development and market expansion strategies to enhance future performance[56]. - NIO aims to improve its operational efficiency and reduce costs in the upcoming fiscal year[56].