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Tuesday, March 5, 2019

=Nio Inc.(NIO) reported earnings on Tue 5 March 19 (a/h)

American depositary shares of Nio Inc.(NIO) fell more than 8% in the extended session Tuesday after the Shanghai-based electric-car maker posted a wider-than-expected fourth-quarter loss and said deliveries of its flagship electric SUV slowed more than it expected. Nio said it lost 3.5 billion renminbi ($511.5 million) in the 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. Quarterly deliveries of Nio's ES8, an SUV launched last year in the Chinese market, reached 7,980 vehicles, the company said. Deliveries of the ES8 in January and February were 1,805 and 811 vehicles, reflecting "a greater than anticipated slowdown in monthly deliveries," thanks mostly to accelerated deliveries at the end of last year ahead of EV subsidy cuts in China this year, seasonal slowdowns around the January 1 and Lunar New Year holidays, and "the current slowdown of macro-economic conditions in China, particularly in the automotive sector," the company said. Nio ADRs had ended the regular session down 3.9%.

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