Nio's vehicle margin was negatively impacted by 6.7 percentage points in the fourth quarter due to accelerated depreciation of production facilities and the loss of purchase commitments for older models.

Nio's net loss for the fourth quarter was RMB 5.79 billion, up 169.9 percent year-on-year and up 40.8 percent from the third quarter.

Excluding stock-based compensation expense, it reported an adjusted net loss (non-GAAP) of RMB 5.07 billion in the fourth quarter, up 190.0 percent year-on-year and up 44.8 percent from the third quarter.

Nio reported an average net loss per ADS of RMB 3.55 in the fourth quarter, compared to RMB 1.36 in the same quarter last year and RMB 2.53 in the third quarter.

Its adjusted net loss per ADS was RMB 3.07, compared to RMB 1.07 in the same period last year and RMB 2.11 in the third quarter.

Research and development expenses in the fourth quarter were RMB 39.8 billion, an increase of 117.7 percent from the fourth quarter of 2021 and an increase of 35.2 percent from the third quarter.

As of December 31, 2022, Nio's cash and cash equivalents, restricted cash, short-term investments and long-term time deposits were RMB 45.5 billion.

Nio guided for first-quarter deliveries of between 31,000 and 33,000 units, implying year-on-year growth of about 20.3 percent to 28.1 percent.

Considering it delivered a total of 20,663 vehicles in January and February, the guidance implies March deliveries are expected to be between 10,337 and 12,337.

Its revenue guidance for the first quarter is between RMB 10.93 billion and RMB 11.54 billion, implying year-on-year growth of about 10.2 percent to 16.5 percent.

NIO delivers 12,157 vehicles in Feb, up 43% from Jan