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NIO Stock Plunges 20% after Publishing Financial Report

From:Internet Info Agency 2019-09-25 09:59:21

(Internet Info Agency, September 25) NIO (NYSE: NIO) shares fell 20.22% to USD 2.17, intraday plunged more than 28%, hit an all-time low of USD 1.97.

NIO yesterday revealed its 2019 Q2 financial report as of June 30, the report shows that NIO's total revenue in the Q2 was RMB 1.506 billion yuan (about USD 219.7 million), down 7.5% from the previous month. The net loss was RMB 3,285.8 million yuan (approximately USD 478.6 million), an increase of 25.2% month-on-month and an increase of 83.1% year-on-year. In non-GAAP, the net loss was RMB 3,193.6 million yuan (USD 465.2 million), an increase of 27.5% from the previous month and an increase of 84.5% from the same period last year.

In the first half of fiscal year 2019, NIO loss amount has reached RMB 5.937 billion yuan (a loss of RMB 2.652 billion yuan in Q1 and RMB 3.285 billion yuan in Q2). During the three years from 2016 to 2018, the losses of NIO were RMB 3.518 billion yuan, RMB 7.562 billion yuan, and RMB 23.328 billion yuan. The total loss in three and a half years reached RMB 40.345 billion yuan.

Subsequently, NIO issued a notice saying that the company canceled the Q2 earnings call scheduled for 8:00 am EST. NIO responded that the earnings call is generally a supplement to the quarterly report. They believe that the quarterly report has fully covered the current information to be disclosed. If there is any other major event occurs, the company will disclose it again through the announcement.

Editor:Liao Haiwei