NIO Inc ADR

NIO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$7.70	Ptgfb	Dvpysyzwb

Nio Has Widening Q3 Losses on Weak Vehicle Margin and Rising Expenses; FVE Decreased to USD 16

Vincent Sun

Nov 11, 2022

Nio’s third-quarter revenue was near the midpoint of the company’s guidance and its first nine months' revenue accounted for 57% of our previous full-year estimate. With enlarged losses on softer vehicle margin and rising operating expense levels, we slightly increase our net loss forecast for 2022-2023. Management indicated the company aims to deliver 20,000 units of vehicles in December, which we believe beats market expectations.

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