On March 5, NIO released its financial results for the fourth quarter and full year of 2023. According to the financial report data, in the fourth quarter of 2023, NIO's revenue will be 1710 billion yuan, a year-on-year increase of 65%；The gross profit margin of the whole vehicle was 119%, reaching double digits for two consecutive quarters.
For the full year of 2023, NIO's total revenue will be 556200 million yuan hit a new high, a year-on-year increase of 129%。It is worth mentioning that as of the end of the fourth quarter of 2023, NIO's cash reserves have soared to 57.3 billion yuan, a significant increase of 12.1 billion yuan from the previous quarter.
It is reported that the sufficient cash reserves are mainly due to the two rounds of strategic investment totaling US$3.3 billion in the second half of last year by the Abu Dhabi investment agency CYVN.
NIO judged that the continuous investment of internationally renowned strategic investors and public market investors has supplemented the company's capital "ammunition" on the one hand, and on the other hand, it has fully reflected the long-term strategic investment value and strategic leading position of NIO in the industry, which is widely recognized by global investors.
In the past year, the war has become more and more intense, and some brands have chosen to 'exchange price for volume'. In the face of the industry competition full of gunpowder, NIO has shown strong resilience, and on the premise of ensuring the basic stability of its own first-class system, it has effectively ensured that the gross profit margin of the whole vehicle has reached double digits for two consecutive quarters. A relevant person from Weilai told the **Times reporter that considering the tragic ** war that has lasted since last year, the gold content of this annual report of Weilai is very high, and the high gross profit margin level also reflects that Weilai's technology investment has begun to enter the return period.
According to the financial report information, in 2023, NIO's R&D investment will be 134300 million yuan, exceeding 10 billion yuan for two consecutive years. In the fourth quarter of last year, NIO's R&D investment reached 39700 million yuan, exceeding 3 billion yuan for five consecutive quarters.
It is reported that in the past few years, NIO has invested more than 43 billion yuan in R&D, and as of the end of January 2024, the total number of patents pending and authorized by NIO worldwide has reached 8,500.
In terms of products, reservations for the 2024 NIO model have already started and will be delivered in early March. At the same time, based on the industry's strongest computing power, NIO will launch the full push of NOP+ in the second quarter, including highways, urban areas, battery swaps, etc., and the device-side multi-modal large model NOMI GPT will also be launched soon.
NIO said that with the gradual introduction of second-generation technology platform models to the market and the improvement of NIO's organizational efficiency, NIO is expected to further expand its market scale in 2024.
It is worth paying special attention to the fact that NIO's new brand models for the family mainstream market will be released and delivered this year.
Looking ahead, NIO expects vehicle deliveries in the first quarter of 2024 to be between 31,000 and 33,000 units, an increase of about 63%。Total revenue is expected to be 1049.9 billion yuan to 1108.7 billion yuan.
In addition to the improvement in performance, NIO has also been working with all parties in the industry to promote the battery swap business in recent times. At present, Changan, Geely, JAC, Chery, and China Southern Power Grid Energy Storage Technology have all reached battery swap cooperation with NIO. **The reporter of Times E Company learned from people familiar with the matter that NIO will have a new cooperation in the near future.
Editor-in-charge: Zhang Qianyao.
Proofreading: Wang Chaoquan.