AutoBeta(AutoBeta.net)11/22 Report--

On November 19th, according to the official announcement of NIO, it has completed the issuance of American Depositary shares (ADS) on the market, selling a total of 53.29 million ADS, raising US $2 billion, deducting about US $26 million in commission and selling fees, and the net fund-raising will be used to further strengthen its balance sheet and general corporate purposes.

It is understood that NIO is currently in a period of expanding production capacity. In order to further increase production capacity and prepare for the introduction of new products such as ET7, Chairman Li Bin said at a conference call on the third quarterly report of Lai Automobile on November 10 that Jianghuai NIO advanced manufacturing base in Hefei had been upgraded in stages as planned. In addition, the construction of the second production base in Hefei Xinqiao Intelligent Electric vehicle Industrial Park is also under way as planned and will be officially put into production in the third quarter of next year.

According to the Q3 financial report released by Xilai Automobile, its total revenue in the third quarter was 9.805 billion yuan, with a net loss of 835.3 million yuan, a decrease of 20.2% compared with the same period last year and an increase of 42.3% compared with the previous quarter. As of September 30, 2021, cash and cash equivalents, restricted cash, time deposits and short-term investments are 47 billion yuan.

In addition, the gross profit margin of NIO also showed a downward trend, from 21.2% in the first quarter to 20.3% in the second quarter and only 18% in the third quarter. In response to this, NIO said that the month-on-month decline in vehicle gross profit margin is mainly due to the deduction of car sales income caused by the increase in financial subsidies for car purchases. Due to the acceleration of product iterative upgrading, the cycle of amortization and depreciation of existing products is shorter than that of the original plan, resulting in an increase in the cost of amortization of bicycles. For the fourth quarter revenue, Ulai said it expects the total delivery volume to be 23500 to 25500 vehicles in the fourth quarter of 2021, with revenue of 93.8 to 10.106 billion yuan. It is not difficult to see from its net loss that NIO is still not profitable at present.

In terms of delivery volume, the delivery volume of Xilai Automobile in October was only 3667, falling out of the top three of the new car-building forces. Throughout the third quarter, Xilai delivered a total of 24439 vehicles, an increase of 100.2% over the same period last year and 11.6% month-on-month growth. As for the decline in sales in October, NIO said that it was mainly due to the phased transformation of the production line of Jianghuai advanced manufacturing base in Hefei in October, and production has gradually resumed since late October. "

As we all know, car building is a very expensive thing, not only in intelligent technology research, sales and service channel construction, factory production line transformation and so on. All need a continuous sum of money to input.

With the trend of increasing sales of new energy vehicles in recent years, the importance of abundant capital reserves for new energy vehicle enterprises is self-evident. According to the China Automobile Association, the production and sales of new energy vehicles in October were 397000 and 383000 respectively, up 133.2% and 139.4% from January to October, respectively, up 180.7% and 176.6% from January to October. In addition, due to the lack of core and other factors, many battery manufacturers only accept an one-time full payment, which also leads to many new car-building forces facing huge cash flow pressure and have to actively raise funds.

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