NIO Inc. Files Its Annual Report on Form 20-F
The company has negative cash flows from operation and only recently started to generate revenues and has not been profitable, all of which may continue in the future.
1) In 2019, total revenues were CNY 7.82 billion, a YoY increase of 58.04%.
2) It incurred net losses of CNY 5.02, 9.64 and 11.30 billion in 2017, 2018 and 2019.
3) In addition, it had negative cash flows from operating activities of CNY 4.57, 7.91 and 8.72 billion in recent three years respectively.
4) The firm has made significant up-front investments in R&D, service network, and sales and marketing to rapidly develop and expand its business.
Associated Companies: XiaoPeng