$NIO (+6.4%) Q2 Earnings Highlights:

🔹 Adj EPS: -$0.30 (Est. -$0.31) 🟢

🔹 Revenue: $2.4B (Est. $2.44B) 😐; UP +98.9% YoY

Q3 Guidance: 

🔹 Revenue: $2.63B - $2.71B (Est. $2.54B) 🟢

🔹 Vehicle Deliveries: 61,000 - 63,000 units; UP +10% to +13.7% YoY

Q2 Financial Highlights: 

🔹 Gross Profit: $232.4M; UP +1,841.0% YoY

🔹 Gross Margin: 9.7% (UP from 1.0% YoY)

🔹 Vehicle Margin: 12.2% (UP from 6.2% YoY)

🔹 Net Loss: $694.4M; DOWN -16.7% YoY

🔹 AdjNet Loss (Non-GAAP): $624.1M; DOWN -16.7% YoY

🔹 Cash and Cash Equivalents: $5.7B

Q2 Vehicle sales:

🔹 Vehicle Sales: $2.16B; UP +118.2% YoY

🔹 Vehicle Deliveries: 57,373 units; UP +143.9% YoY

🔸 Premium Smart Electric SUVs: 32,562 units

🔸 Premium Smart Electric Sedans: 24,811 units

Operating Metrics: 

🔸 Vehicle Margin: 12.2% (UP from 6.2% YoY and 9.2% QoQ)

🔸 Gross Margin: 9.7% (UP from 1.0% YoY and 4.9% QoQ)

Recent Developments: 

🔸 Record Deliveries: 57,373 vehicles in Q2 2024; NIO holds over 40% market share in China's premium BEV segment priced above RMB 300,000

🔸 Power Up Counties Plan: Expansion of charging and swapping network in China

🔸 Launch of ONVO Brand: Opened 105 stores and launched the L60 model

CEO William Bin Li's Commentary: 

🔸 "In the second quarter of 2024, NIO achieved a record-breaking delivery of 57,373 premium smart electric vehicles, securing over 40% of the market share in the battery electric vehicle segment priced above RMB 300,000 in China. NIO's core competitive advantages in technology, product, service, and community are earning increasing recognition from users, driving the continued strong vehicle sales performance. The total delivery volume for the third quarter is expected to set another record, further solidifying and expanding market share."