NIO Inc. (NYSE:NIO) Q1 2024 Earnings Conference Call June 6, 2024 8:00 AM ET

Company Participants

Rui Chen - Head of IR
William Li - Founder, Chairman & CEO
Steven Feng - CFO
Stanley Qu - SVP, Finance

Conference Call Participants

Tim Hsiao - Morgan Stanley
Ming-Hsun Lee - Bank of America
Ben Wang - Deutsche Bank
Paul Gong - UBS
Yuqian Ding - HSBC
Cheng Jing - CICC
Tina Hou - Goldman Sachs

Operator

Hello, ladies and gentlemen. Thank you for standing by for NIO Incorporated’s First Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. Today's conference call is being recorded.

I will now turn the call over to your host, Mr. Rui Chen, Head of Investor Relations of the company. Please go ahead, Rui.

Rui Chen

Good morning, and good evening, everyone. Welcome to NIO's first quarter 2024 earnings conference call. The company's financial and operating results were published in the press release earlier today, and are posted at the company's IR website. On today's call, we have Mr. William Li, Founder, Chairman of the Board and Chief Executive Officer; Mr. Steven Feng, Chief Financial Officer; and Ms. Stanley Qu, Senior Vice President 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 non-GAAP -- GAAP financial information, as well as unaudited non-GAAP financial measures. Please refer to news 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

Hello, everyone. Thank you for joining NIO's 2024 Q1 earnings call. In Q1, NIO delivered 30,053 premium smart EV. In Q2, thanks to the launch of all model year products unleash of sales capabilities together with a more flexible sales policy. NIO's deliveries started to pick up month by month. In April, NIO delivered 15,620 vehicles and in May, 20,544 vehicles. Our market share in the premium BEV segment continued to grow, with year-over-year growth far above the segment average.