While the date hasn’t yet been solidified, shareholders of Nio (NYSE:NIO) stock should keep their eyes peeled for additional details concerning Nio Day 2024. Over the weekend, the Chinese electric vehicle (EV) company announced that the event would be held in Guangzhou, Guangdong province following a voting process. Guangzhou beat out Hangzhou and Xiamen.
Nio Day is Nio’s most important annual event, according to CnEVPost. Previous Nio Days have resulted in the release of new EV models and technologies. For example, the company unveiled its ET9 sedan during Nio Day 2023.
Guangzhou is one of China’s Tier 1 cities and boasts 65 battery swap stations. It’s also where competitor XPeng (NYSE:XPEV) is headquartered.
NIO Stock: Nio Day 2024 to Be Held in Guangzhou
The details surrounding the event are scarce, leaving Nio in a position to surprise shareholders. A positive surprise is desperately needed, as NIO stock is down by about 45% so far this year.
At the same time, there’s another Nio event on the horizon. On July 27, the company will hold its Nio IN 2024 Innovation Day. During the event, Nio will officially launch its SkyOS vehicle operating system after unveiling the system during last year’s IN event.
“SkyOS is Nio’s full domain operating system, which builds a “1+4+N” technology cluster covering vehicle control, intelligent driving, cockpit, mobile connectivity and many other areas, it said at the time,” wrote CnEVPost.
Additionally, Nio is also expected to launch its second-generation Nio phone based on a teaser video. Last week, the device received China Compulsory Certificate (CCC) certification, checking off another box for a rollout.
While Nio hasn’t yet confirmed the date for its second-quarter earnings, shareholders should expect to receive an update soon. During the quarter, it delivered 57,373 vehicles, representing yearly growth of 143.9%.
Nio’s delivery growth is great, although with any other company, profitability matters. That’s an area where Nio has struggled. For the second quarter, Nio is expected to remain unprofitable with a GAAP EPS loss of 28 cents compared to a loss of 51 cents a year ago. Wall Street believes that 2027 will be different with analysts forecasting a GAAP EPS of 24 cents.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
