Lates News

Morningstar's senior stock analyst Vincent Sun described NIO Group's first quarter profit margin and cost control performance as disappointing in a report. While revenue increased by 21% year-on-year, the company failed to meet performance guidance expectations due to increased competition, inventory clearance, and changes in the vehicle mix. The company stated that soft sales dragged down its profit margin, with a 10% automotive profit margin lower than Morningstar's expectations. If management can achieve performance guidance, NIO Group will have significant upside potential, but the brokerage remains cautious about the company's ability to increase sales and narrow losses. Morningstar has lowered its fair value estimate for NIO from $5.60 to $5.