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NIO's revenue for the first quarter amounted to RMB 12.035 billion, marking a 21.46% year-on-year increase. However, the net loss attributable to shareholders of the listed company widened by 31.06%, reaching RMB 6.891 billion. The company's current ratio slipped to 0.84 times, while the asset-liability ratio soared to 92.55%, reflecting a negative shareholder equity value. Despite these financial challenges, NIO's founder, Li Bin, remains optimistic, asserting that the company has navigated its lowest point and aims to achieve profitability by the fourth quarter. Li Bin also projected vehicle deliveries to range between 72,000 and 75,000 units in the second quarter. The financial report garnered a muted response from the U.S. and Hong Kong stock markets, with share prices experiencing a modest uptick.
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