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NIO Inc. First quarter profit: turnover down, profit up

NIO Inc. Class A (HK:9866) has released an update.

NIO Inc., a leader in the premium smart electric vehicle industry, revealed a decline in vehicle deliveries and sales in the first quarter of 2024, with 30,053 vehicles delivered, marking a decline compared to both the previous quarter and the same quarter last year. Despite the decline in deliveries and sales revenues, the company’s gross profit rose significantly, with an impressive year-on-year increase of 200.5%. Investors are advised to consider the risks associated with the company’s weighted voting structure when making investment decisions.

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