NIO Reports Unaudited First Quarter 2024 Financial Results

·   Total revenues were RMB9,908.6 million (US$1,372.3 million) in the first quarter of 2024, representing a decrease of 7.2% from the first quarter of 2023 and a decrease of 42.1% from the fourth quarter of 2023.

·   Vehicle margin was 9.2% in the first quarter of 2024, compared with 5.1% in the first quarter of 2023 and 11.9% in the fourth quarter of 2023.

·   Cash and cash equivalents, restricted cash, short-term investment and long-term time deposits were RMB45.3 billion (US$6.3 billion) as of March 31, 2024.

For the second quarter of 2024, the Company expects:

·   Deliveries of vehicles to be between 54,000 and 56,000 units, representing an increase of approximately 129.6% to 138.1% from the same quarter of 2023.

·   Total revenues to be between RMB16,587 million (US$2,297 million) and RMB17,135 million (US$2,373 million), representing an increase of approximately 89.1% to 95.3% from the same quarter of 2023.