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3/1, 11:06 PM (Source: TeleTrader)
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NIO-2.61%

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NIO: Total revenues soar 133.2% YoY to $1.02B in Q4

NIO Inc. revealed on Monday that its revenues surged 133.2% year on year to reach 6.64 billion yuan ($1.02 billion) in the fourth quarter of fiscal 2020.

Net loss was 1.39 billion yuan ($212.8 million) in the three-month period ending with December 31, 2020, 51.5% lower than in the corresponding period the year prior, while gross profit stood at 1.14 billion yuan ($175.0 million), compared to a gross loss of 253.8 million yuan ($39.25 million) from the fourth trimester in 2019. Diluted net loss per American Depositary Share (ADS) was 1.05 yuan ($0.16), falling 62.6% year over year. The Chinese automaker delivered 17,353 vehicles in the fourth quarter, 111% more on a yearly basis.

NIO's full-year total revenue amounted to 16.26 billion yuan ($2.49 billion) in 2020, soaring 107.8% from the previous year. Net loss dropped 53% to 5.3 billion yuan ($812.9 million), while gross profit was 1.87 billion yuan ($287.1 million), in comparison to a gross loss of 1.2 billion yuan ($190 million) from 2019. Diluted net loss per American Depositary Share (ADS) decreased 57.2% to 4.74 yuan ($0.73) in the entire 2020.

The company's shares were 3.70% lower in after-hours trade following the release of the report.

Breaking the News / MS