NIO Inc. (NYSE:NIO) Q3 2023 Earnings Conference Call December 5, 2023 7:00 AM ET
Company Participants
William Li - Founder, Chairman and Chief Executive Officer
Steven Feng - Chief Financial Officer
Stanley Qu - Senior Vice President of Finance
Conference Call Participants
Tim Hsiao - Morgan Stanley
Nick Lai - JPMorgan
Yuqian Ding - HSBC
Ming-Hsun Lee - Bank of America
Paul Gong - UBS
Cheng Jing - CICC
Jason Getz - Mizuho Securities USA
Operator
Hello, ladies and gentlemen, thank you for standing by for NIO Incorporated Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today's conference call is being recorded.
I will now turn the call over to your host, Mr. [Indiscernible] Head of Investor Relations of the Company. Please go ahead, [Indiscernible].
Unidentified Company Representative
Good morning and good evening, everyone. Welcome to NIO's third quarter 2023 earnings conference call.
The company's financial and operating results were published in the press release earlier today and are posted on the company's IR website.
On today's call, we have Mr. William Li, Founder, Chairman and the CEO; Mr. Steven Feng, our CFO; and Mr. Stanley Qu, Senior VP of Finance.
Before we continue, please be kindly reminded that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties, as such, the company's actual results may be materially different from the views expressed today.
Further information regarding risks and uncertainties is included in certain filings of the company with the U.S. Securities and Exchange Commission, the Stock Exchange of Hong Kong Limited, and the Singapore Exchange Securities Trading Limited. The Company does not assume any obligation to update any forward-looking statements except as required under applicable law.
Please also note that NIO's earnings press release and this conference call include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. Please refer to NIO's press release, which contains a reconciliation of the unaudited non-GAAP measures to comparable GAAP measures.
With that, I will now turn the call over to our CEO, Mr. William Li. William, please go ahead.
William Li
[Foreign Language]
Unidentified Company Representative
Hello everyone. Thank you for joining NIO’s 2023 Q3 earnings call.
William Li
[Foreign Language]
Unidentified Company Representative
In the third quarter of 2023 by making the most of a complete product line-up on the NT2 platform, the improvement of over our self-capacity and capability as well as the continuous expansion of self, service and power networks, NIO delivered a total of 55,432 premium smart electric vehicles, up 75.4% year-over-year. The retail stat from Cathart [Ph] showed that in Q3 NIO ranked first in China’s EV segment with an average construction price of over RMB300,000 with market share above 45% in the segment.