It is reported that the sources of liquidity available to NIO include cash and cash equivalents of 11.8291 billion yuan, short-term investments of 37.7804 billion yuan, and undrawn credit lines of 30.7579 billion yuan, totaling 80.3674 billion yuan.
On May 11, NIO announced that it will officially land on the Singapore Exchange on May 20. By then, NIO will become the first smart electric vehicle company listed in the three places.
In this Singapore listing, NIO will adopt the method of introduction and listing, which is consistent with the previous listing on the Hong Kong Stock Exchange, and does not involve new share issuance and fund raising. NIO’s Class A shares listed on the SGX are fully convertible with its NYSE-listed American Depositary Shares.
Zhang Xiang, an analyst in the automotive industry, believes that listing in Singapore will broaden NIO’s overseas financing channels, and after being included in the “pre-delisting list”, the new listing channel will hedge against the potential risks of relying only on the US capital market for financing.
In addition to landing on the Hong Kong Stock Exchange and the Singapore Exchange within 3 months, NIO has also made frequent moves at the product and market levels.
As of the end of April 2022, NIO has delivered a total of 197,912 smart electric vehicles. According to NIO, the three models of ET7, ET5 and ES7 planned to be delivered this year are also progressing in an orderly manner.
ET7 has started delivery on March 28, and ET5 will be delivered in the third quarter as planned. The SE7, which is positioned as a medium-to-large five-seat SUV, also ushered in the latest progress. On May 13, NIO ES7 was officially registered in the 356th batch of application catalogues of the Ministry of Industry and Information Technology. It is reported that the NIO ES7 benchmarks the Porsche Cayenne and BMW’s domestic X5.
A research report by Futu Securities shows that Weilai’s product line is relatively simple, and the new product launch is of great significance. At present, NIO’s product line mainly focuses on high-end SUVs. ET7 and ET5 are dislocated from the current NIO SUV products, and the product audience is different. In addition, NIO disclosed that the number of ET7 orders currently in hand is more than the rumored 15,000 units, and the monthly sales of 12,000-15,000 units of competing products are expected to be significantly boosted by the launch of the ET7.
NIO’s new brand, which is positioned in the mass market, has also ushered in substantial progress recently. On May 10, NIO’s new brand production base settled in Hefei, and it is planned to be completed and put into production in 2024. The new brand will compete with Tesla and Volkswagen in the market.
In terms of service and sales network layout, as of May 10, NIO had deployed 918 battery swap stations, 791 overcharge stations, and 4,348 overcharge piles nationwide. There are 693 destination charging stations, 3,976 charging piles, and a total of over 490,000 third-party charging piles. While actively expanding its service network, NIO has also accelerated the layout of its sales network. At present, NIO has 384 sales stores around the world.
At the R&D level, NIO said that in 2022, it will adhere to full-stack self-research and increase investment in underlying technologies and long-term technologies. It is expected that the annual R&D investment will double year-on-year, and the number of R&D personnel will increase to 9,000 by the end of the year. In 2021, the company’s annual R&D expenditure will increase by 84.58% year-on-year, reaching 4.592 billion yuan.
Some analysts pointed out that the current domestic automobile industry chain is greatly affected by the epidemic, logistics, and core shortages, and the production and sales of automobiles are relatively sluggish. NIO chose to announce its cash reserves at this time, which will help boost market confidence. As of today’s close, NIO’s Hong Kong shares rose 5.65% to close at HK$106.60.
Author / Wei Wen