On Friday (7th), the three major Hong Kong stock indexes opened higher. On the market, new car-making forces all fell, with NIO-SW (HK:9866) falling 7.65%, Li Auto-W (HK:2015) falling 2.09%, and Xpeng Motors-W (HK:9868) falling 0.31%.

On the news front, NIO announced its first quarter financial report for 2024 last night, with revenue of 9.909 billion yuan during the reporting period, a year-on-year decrease of 7.2%; net loss of 5.185 billion yuan, a year-on-year increase of 9.4%; its automobile gross profit margin was 9.2%, 5.1% in the same period of 2023, and 11.9% in the fourth quarter of last year. In the first quarter of this year, the price war in the auto market intensified, and factors such as price cuts and promotions also led to a decline in NIO's gross profit margin.

The delivery guidance shows that NIO's second-quarter deliveries are expected to reach 54,000 to 56,000 vehicles, a year-on-year increase of 129.6% to 138.1%; the second-quarter revenue is expected to reach 16.59 billion yuan to 17.14 billion yuan, a year-on-year increase of 89.1% to 95.3%. Behind the "soaring" second-quarter delivery guidance is NIO's gradually recovering new car deliveries. Data shows that in May this year, NIO delivered 20,500 new cars, a year-on-year increase of 233.8% and a month-on-month increase of 31.5%.