Nio Inc., the Chinese premium electric vehicle manufacturer, reported its unaudited financial results for the third quarter of 2024, revealing total revenues of RMB 18,673.5 million (approximately US$2.66 billion). This figure represents a 7% increase from the previous quarter. However, the company faced a larger-than-expected net loss, which has been attributed to intense price competition within the Chinese electric vehicle market. Following the earnings announcement, Nio's stock fell by 5% in pre-market trading, contributing to a total decline of 23% over the past three weeks. Additionally, Nio's shareholders' equity has dropped to a long-term low of $1.6 billion as of September 2024, down from $3.6 billion at the beginning of the year. Analysts have raised concerns about the company's cash flow disclosures, indicating potential challenges ahead for Nio as it navigates a competitive landscape dominated by rivals like Tesla.