NIO Inc (NIO) Q1 2023 Earnings Report

Revenue Performance:
- Total Revenue: RMB 10.68 billion (YoY: +7.7%, QoQ: -33.5%)
- Vehicle Sales: RMB 9.20 billion (YoY: -0.2%, QoQ: -37.5%)

Profitability Metrics:
- Gross Profit: RMB 162.29 million (Gross Margin: 1.5%)
- Operating Income: -RMB 5.11 billion (Operating Margin: -47.9%)
- Net Income: -RMB 4.74 billion (Net Margin: -44.4%)

Operational Expenses:
- R&D Expenses: RMB 3.08 billion (YoY: +74.6%)
- SG&A Expenses: RMB 2.44 billion (YoY: +21.4%)

Cash Position:
- Cash, Cash Equivalents & Short-term Investments: RMB 37.8 billion as of March 31, 2023.
Liquidity Ratios:
- Current Ratio: 1.28
- Quick Ratio: 1.12

Mixed figures indicate operational struggles, particularly a sharp decrease in vehicle margins attributed to changing product mix and increased promotional activities. Management emphasized the need for a revitalized focus on R&D and effective cost management to stabilize the balance sheet and ensure positive cash flow in the upcoming quarters.