NIO vehicle deliveries up 322% YoY. Here is why NIO stock is up and down today. – Idaho Reporter

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NIO vehicle deliveries up 322% YoY. Here is why NIO stock is up and down today.

Source:ir.nio.com

Early Tuesday morning, August 11, was set as a date for NIO Inc quarterly report. And NIO delivered big time. On the positive news NIO stock price is up almost 10% in pre-market session.

Here are some numbers so all NIO shareholders can start salivate:

  • Vehicle sales were US$493.4 million in Q2 of 2020, representing an increase of 146.5% from the second quarter of 2019 and an increase of 177.6% from the first quarter of 2020.
  • Vehicle marginii was 9.7%, compared with negative 24.1% in the second quarter of 2019 and negative 7.4% in the first quarter of 2020.
  • Total revenues were RMB3,718.9 million (US$526.4 million) in the second quarter of 2020, representing an increase of 146.5% from the second quarter of 2019 and an increase of 171.1% from the first quarter of 2020.
  • Gross profit in the second quarter of 2020 was RMB313.1 million (US$44.3 million), representing an increase of RMB817.3 million from a gross loss of RMB504.2 million in the second quarter of 2019 and an increase of RMB480.6 million from a gross loss of RMB167.5 million in the first quarter of 2020.
  • Gross margin was 8.4%, compared with negative 33.4% in the second quarter of 2019 and negative 12.2% in the first quarter of 2020.
  • Loss from operations was RMB1,160.0 million (US$164.2 million) in the second quarter of 2020, representing a decrease of 64.0% from the second quarter of 2019 and a decrease of 26.1% from the first quarter of 2020. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB1,114.7 million (US$157.8 million) in the second quarter of 2020, representing a decrease of 64.4 % from the second quarter of 2019 and a decrease of 27.5% from the first quarter of 2020.
  • Net loss was US$166.5 million
  • Net loss attributable to NIO’s ordinary shareholders was RMB1,207.8 million (US$171.0 million) in the second quarter of 2020, representing a decrease of 63.6% from the second quarter of 2019 and a decrease of 29.9% from the first 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 RMB1,131.0 million (US$160.1 million).
  • Basic and diluted net loss per American Depositary Share (ADS) were both RMB1.15 (US$0.16) in the second 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 RMB1.08 (US$0.15).
  • Cash and cash equivalents, restricted cash and short-term investment were RMB11.2 billion (US$1.6 billion) as of June 30, 2020.
  • Deliveries of the ES8 and ES6 were 3,533 vehicles in July 2020, representing a robust 322.1% year-over-year growth

“We achieved a record-high quarterly deliveries of 10,331 ES8 and ES6 vehicles in total in the second quarter of 2020 and expect to deliver 11,000 to 11,500 vehicles in the third quarter as the momentum continues,” said William Bin Li, founder, chairman and CEO of NIO. “The current constraints on the productions will be lifted in the near future and we are confident that our production capacity can meet the accelerated demand of our models.”

NIO shares gained almost 6% on Monday and are trending on Tuesday with more then 8% jump during pre-market session.

But soon after the market got the news the stock price went down. Usually this means sell on news, but in this case it means:”OK, this is all great but NIO is a Chinese company so I am not sure what to do if Trump goes nuts over Chinese car producer good results, so I am going to sell, just in case”

At 11:00 AM EDT NIO shares are down almost 7% with a $13.26 price tag. Still, in my eyes, NIO stock seems a a great long term investment.

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