Nio's Substantial Growth Shows Its Aggressive Expansion Is On Track
Nio's Substantial Growth Shows Its Aggressive Expansion Is On Track
Last week, Nio Inc (NYSE:NIO) reported its second quarter results as it continues its aggressive expansion. But despite both quarterly and annual improvements, Nio still posted a loss and missed Wall Street revenue estimates. CEO William Bin Li proudly noted that Nio achieved a record-breaking delivery of 57,373 premium smart EVs, securing over 40% of the market share in the premium battery EV segment that is also facing intensified competition.
上週，蔚來公司（紐約證券交易所代碼：NIO）公佈了第二季度業績，該公司繼續積極擴張。但是，儘管季度和年度均有所改善，但蔚來仍出現虧損，未達到華爾街的收入預期。首席執行官William Bin Li自豪地指出，蔚來汽車實現了創紀錄的57,373輛高端智能電動汽車的交付量，在同樣面臨激烈競爭的高端電池電動汽車細分市場中佔有40％以上的市場份額。
One of its rivals, Tesla Inc (NASDAQ:TSLA) reported soaring sales in China in August. More precisely, China Passenger Car Association reported that Tesla hit 2024-year highs in domestic sales in China last month, rising 37% from July. With China sales seemingly roaring back in August, Tesla is also a reflection of rebounding demand in China's competitive EV market. But in August, Tesla still only held 8.3% of China's EV market.
其競爭對手之一特斯拉公司（納斯達克股票代碼：TSLA）報告稱，8月份在中國的銷售額猛增。更確切地說，中國乘用車協會報告稱，特斯拉上個月在中國的國內銷量創下了2024年來的最高水平，較7月份增長了37％。隨着8月份中國的銷量似乎激增，特斯拉也反映了中國競爭激烈的電動汽車市場需求的反彈。但是在8月，特斯拉仍然僅佔中國電動汽車市場的8.3％。
Second quarter highlights
第二季度亮點
For the quarter ended on June 30th, Nio had already revealed its deliveries grew almost 144% on a YoY basis and consequently, revenue grew 98.9% YoY to $2.40 billion but were below Wall Street estimates that averaged $2.44 billion due to the damage inflicted by lower average selling prices that were the result of changes in vehicle product mix and user rights adjustments that were made since last June. But gross margin expanded to 9.7%, improving significantly from 1% posted for 2023's comparable quarter as Nio finally ramped up its production and deliveries, with vehicle margin almost doubling from last year's comparable quarter to 12.2%.
蔚來已經透露，在截至6月30日的季度中，其交付量同比增長了近144％，因此，收入同比增長98.9％，達到24.0億美元，但低於華爾街估計的平均24.4億美元，這是自去年6月以來汽車產品組合的變化和用戶權限調整導致的平均銷售價格下降所造成的損失。但是，由於蔚來最終提高了產量和交付量，毛利率增長至9.7％，較2023年同期公佈的1％大幅提高，汽車利潤率比去年同期幾乎翻了一番，達到12.2％。
However, despite strong growth, Nio still ended up with an adjusted loss of 2.21 yuan or $0.30 per share.
但是，儘管增長強勁，但蔚來調整後的虧損仍爲2.21元人民幣或每股0.30美元。
A strong Q3 outlook
強勁的第三季度前景
Nio expects to deliver 61,000 to 63,000 vehicles during the current quarter, which represents a YoY rise of 10.0% to 13.7%. It guided for revenue in the range between $2.63 and 2.70 billion.
蔚來預計本季度將交付61,000至63,000輛汽車，同比增長10.0％至13.7％。它指導收入在2.63美元至27美元之間。
Nio continues to accelerate.
蔚來汽車繼續加速。
During the second quarter, Nio showed a significant more than double increase in revenues and vehicle deliveries, along with a noteworthy margin rise per vehicle. For the fourth quarter, Nio's management set a target of 15% for the vehicle margin. Operating expenses remain problematic as loss from operations narrowed only 3% despite a 76.1% sequential rise in revenues. It's no secret that building out the sales infrastructure is an expensive endeavor, but Nio promised more progress is to come later this year. On Friday, JP Morgan shifted its stance and upgraded the stock, seeing a financial turnaround for Nio upon the latest results. In addition, things are bound to get even more interested when Nio launches its new lower-priced brand Onvo whose first EV is set to challenge Tesla Model Y or more precisely, Tesla's best-selling EV.
在第二季度，蔚來汽車的收入和車輛交付量大幅增長了兩倍多，每輛車的利潤率也顯著提高。蔚來管理層在第四季度將汽車利潤率設定爲15％的目標。運營支出仍然存在問題，儘管收入連續增長76.1％，但運營虧損僅縮小了3％。建設銷售基礎設施是一項昂貴的工作，這已經不是什麼祕密了，但蔚來承諾將在今年晚些時候取得更多進展。週五，摩根大通改變了立場，上調了該股，根據最新業績，蔚來汽車的財務狀況出現了轉機。此外，當蔚來推出其價格較低的新品牌Onvo時，人們肯定會變得更加感興趣，Onvo的首款電動汽車將挑戰特斯拉Model Y，或者更確切地說，是特斯拉最暢銷的電動汽車。
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