NIO Inc. Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-22,658	-21,147	-14,559	-10,572	-5,611
Depreciation & Amortization	7,701	4,907	3,994	2,352	1,546
Loss (Gain) From Sale of Assets	63.62	-4.47	12.81	31.11	127.66
Asset Writedown & Restructuring Costs	55.33	-	35.01	-	25.76
Loss (Gain) From Sale of Investments	438.05	-969.13	-174.85	-105.61	-
Loss (Gain) on Equity Investments	503.19	-64.39	-377.78	-62.51	66.03
Stock-Based Compensation	1,929	2,369	2,296	1,010	187.09
Provision & Write-off of Bad Debts	-3.76	-26.32	48.71	54.33	9.65
Other Operating Activities	510.97	467.82	608.62	6,592	769.89
Change in Accounts Receivable	2,986	453.38	-2,303	-1,718	237.93
Change in Inventory	-1,786	2,895	-6,258	-990.55	-197.83
Change in Accounts Payable	4,717	4,871	11,651	6,260	3,257
Change in Income Taxes	53.32	61.01	-341.59	446.98	130.54
Change in Other Net Operating Assets	-2,358	4,805	1,503	-1,331	1,403
Operating Cash Flow	-7,849	-1,382	-3,866	1,966	1,951
Operating Cash Flow Growth	-	-	-	0.79%	-
Capital Expenditures	-9,142	-14,341	-6,973	-4,079	-1,128
Sale of Property, Plant & Equipment	231.52	73.06	3.62	1.13	163.07
Investment in Securities	3,952	3,382	17,354	-35,737	-4,106
Other Investing Activities	-	-	-	50	-
Investing Cash Flow	-4,958	-10,885	10,385	-39,765	-5,071
Short-Term Debt Issued	-	-	-	-	260
Long-Term Debt Issued	9,219	16,135	6,919	15,673	4,711
Total Debt Issued	9,219	16,135	6,919	15,673	4,971
Short-Term Debt Repaid	-	-	-	-	-285.8
Long-Term Debt Repaid	-10,853	-9,521	-8,578	-2,465	-1,007
Total Debt Repaid	-10,853	-9,521	-8,578	-2,465	-1,293
Net Debt Issued (Repaid)	-1,634	6,614	-1,659	13,208	3,677
Issuance of Common Stock	111.35	21,049	78.73	12,822	34,762
Other Financing Activities	3,295	-0.25	-35.88	-7,901	2,918
Financing Cash Flow	1,772	27,663	-1,616	18,129	41,357
Foreign Exchange Rate Adjustments	161.04	70.25	-121.9	-500.96	-682.04
Net Cash Flow	-10,874	15,466	4,781	-20,171	37,555
Free Cash Flow	-16,991	-15,722	-10,839	-2,112	823.21
Free Cash Flow Margin	-25.85%	-28.27%	-22.00%	-5.85%	5.06%
Free Cash Flow Per Share	-8.27	-9.25	-6.62	-1.34	0.70
Cash Interest Paid	641.9	285.48	274.35	218.83	333.88
Cash Income Tax Paid	65.36	35.98	77.19	6.01	13.17
Levered Free Cash Flow	-16,316	-15,439	-851.93	-1,644	1,379
Unlevered Free Cash Flow	-15,817	-15,187	-643.67	-1,245	1,645
Change in Working Capital	3,612	13,085	4,251	2,668	4,830

Updated Nov 25, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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