ahlam1399
03-06-2019, 03:06 AM
Nio Inc.â??s American depositary shares tanked in the extended session Tuesday after the Shanghai-based electric-car maker reported a wider-than-expected quarterly loss, highlighted a delivery slowdown this year and raised more concerns about Chinaâ??s economy.
Nio
NIO, +3.89% (http://www.marketwatch.com/investing/stock/nio)
آ*said it lost 3.5 billion renminbi ($511.5 million) in the fourth quarter, or 49 cents a share. Revenue reached 3.4 billion renminbi ($499.7 million) in the quarter, compared with 1.5 billion renminbi in the third quarter. Nio did not provide year-ago numbers.
Analysts polled by FactSet expected a quarterly loss of 32 cents a share on sales of $493 million.
Related: Tesla stock slides to 4-month low as analysts question recent decisions, fret about cash burn (http://www.marketwatch.com/story/tesla-stock-slides-another-4-as-analysts-question-recent-decisions-fret-about-cash-burn-2019-03-05)
Fourth-quarter deliveries of Nioâ??s ES8, an SUV launched last year in the Chinese market, reached 7,980 vehicles, the company said.
See also: Citronâ??s Andrew Left sells out of Chinaâ??s Tesla rival Nio (http://www.marketwatch.com/story/citrons-andrew-left-sells-out-of-chinas-tesla-rival-nio-2019-02-26)
Deliveries of the ES8 in January and February were 1,805 and 811 vehicles, respectively, reflecting â??a greater-than-anticipated slowdown in monthly deliveries,â?* Nio said.
The company pinned the slowdown on accelerated deliveries at the end of 2018 ahead of electric-vehicle-subsidy cuts in China this year, seasonal slowdowns around the Jan. 1 and Lunar New Year holidays, and â??the current slowdown of macro-economic conditions in China, particularly in the automotive sector,â?* it said.
Read more: Nio CEO touts its electric cars as â??ticket to a new lifestyleâ?? (http://www.marketwatch.com/story/nio-ceo-touts-its-electric-cars-as-ticket-to-a-new-lifestyle-2019-02-24)
Nio ADRs fell about 11% in after-hours trading, after ending the regular session up 3.9%.
The ADRs debuted on the New York Stock Exchange in September (http://www.marketwatch.com/story/5-things-to-know-about-the-ipo-of-nio-aka-the-chinese-tesla-2018-08-15) and a couple of months later the company won a nod from Citron Researchâ??s Andrew Left, (http://www.marketwatch.com/story/nio-stock-rallies-after-famed-short-seller-heaps-praise-over-chinese-tesla-2018-11-19)who praised its management and marketing strategies, including the creation of â??Nio Housesâ?* as places not only for car sales but also as club-style spaces where customers can socialize.
Nio said in December that its ES6, a compact, five-seater SUV, is available to pre-order, with the first deliveries slated for June.
Nioâ??s ADRs have gained 60% this year, compared with gains around 2.5% for the S&P 500 index
SPX, -0.11% (http://www.marketwatch.com/investing/index/spx)
آ*.
Want news about Asia delivered to your inbox? Subscribe to MarketWatch’s free Asia Daily newsletter. Sign up here. (http://www.marketwatch.com/newsletters)
</p>
Source link (http://www.marketwatch.com/news/story.asp?guid=%7B6CDB1B3A-3F92-11E9-B584-A4FAB032CBE3%7D&siteid=rss&rss=1)
More (http://ahlam1399.i234.me:8888/m/2019/03/06/nio-spooks-investors-with-quarterly-miss-delivery-slowdown/)
Nio
NIO, +3.89% (http://www.marketwatch.com/investing/stock/nio)
آ*said it lost 3.5 billion renminbi ($511.5 million) in the fourth quarter, or 49 cents a share. Revenue reached 3.4 billion renminbi ($499.7 million) in the quarter, compared with 1.5 billion renminbi in the third quarter. Nio did not provide year-ago numbers.
Analysts polled by FactSet expected a quarterly loss of 32 cents a share on sales of $493 million.
Related: Tesla stock slides to 4-month low as analysts question recent decisions, fret about cash burn (http://www.marketwatch.com/story/tesla-stock-slides-another-4-as-analysts-question-recent-decisions-fret-about-cash-burn-2019-03-05)
Fourth-quarter deliveries of Nioâ??s ES8, an SUV launched last year in the Chinese market, reached 7,980 vehicles, the company said.
See also: Citronâ??s Andrew Left sells out of Chinaâ??s Tesla rival Nio (http://www.marketwatch.com/story/citrons-andrew-left-sells-out-of-chinas-tesla-rival-nio-2019-02-26)
Deliveries of the ES8 in January and February were 1,805 and 811 vehicles, respectively, reflecting â??a greater-than-anticipated slowdown in monthly deliveries,â?* Nio said.
The company pinned the slowdown on accelerated deliveries at the end of 2018 ahead of electric-vehicle-subsidy cuts in China this year, seasonal slowdowns around the Jan. 1 and Lunar New Year holidays, and â??the current slowdown of macro-economic conditions in China, particularly in the automotive sector,â?* it said.
Read more: Nio CEO touts its electric cars as â??ticket to a new lifestyleâ?? (http://www.marketwatch.com/story/nio-ceo-touts-its-electric-cars-as-ticket-to-a-new-lifestyle-2019-02-24)
Nio ADRs fell about 11% in after-hours trading, after ending the regular session up 3.9%.
The ADRs debuted on the New York Stock Exchange in September (http://www.marketwatch.com/story/5-things-to-know-about-the-ipo-of-nio-aka-the-chinese-tesla-2018-08-15) and a couple of months later the company won a nod from Citron Researchâ??s Andrew Left, (http://www.marketwatch.com/story/nio-stock-rallies-after-famed-short-seller-heaps-praise-over-chinese-tesla-2018-11-19)who praised its management and marketing strategies, including the creation of â??Nio Housesâ?* as places not only for car sales but also as club-style spaces where customers can socialize.
Nio said in December that its ES6, a compact, five-seater SUV, is available to pre-order, with the first deliveries slated for June.
Nioâ??s ADRs have gained 60% this year, compared with gains around 2.5% for the S&P 500 index
SPX, -0.11% (http://www.marketwatch.com/investing/index/spx)
آ*.
Want news about Asia delivered to your inbox? Subscribe to MarketWatch’s free Asia Daily newsletter. Sign up here. (http://www.marketwatch.com/newsletters)
</p>
Source link (http://www.marketwatch.com/news/story.asp?guid=%7B6CDB1B3A-3F92-11E9-B584-A4FAB032CBE3%7D&siteid=rss&rss=1)
More (http://ahlam1399.i234.me:8888/m/2019/03/06/nio-spooks-investors-with-quarterly-miss-delivery-slowdown/)