(Nio) Shares of Nio Inc. declined more than 8% on Friday after reporting a net loss of RMB2.143 billion or US$336.4 million in the fourth quarter of 2021, widening by 54.4% from the prior year.
For FY21, Nio’s net loss was reported at RMB4.017 billion or $630.3 million, narrower by 24.3% from the prior year.
Despite the greater loss in the fourth quarter, the electric maker announced a revenue increase of 49.1% year-over-year to RMB9.9 billion or $1.554 billion in the fourth quarter.
Nio’s vehicle sales in the fourth quarter were RMB9.214 billion or $1.446 billion, an increase of 49.3% from the prior year. The vehicle margin was 20.9%, an increase of 17.2% from the prior year and 18.0% in the third quarter.
Overall gross margin in the fourth quarter was 17.2%, unchanged from the prior year’s comparable quarter and a decline from 20.3% in the third quarter.
Nio announced that it delivered 25,034 vehicles in the fourth quarter, representing a jump of 44.3% from the prior year and an increase of 2.3% from the third quarter. The deliveries for 2021 were 91,429, up 109.1% from 2020.
NIO: NYSE is down -8.74%
