Artificial Intelligence
NIO Inc. Reports Unaudited Second Quarter 2020 Financial Results
Quarterly Total Revenues reached RMB3,718.9 million (US$526.4 million) i
Quarterly Deliveries of the ES8 and the ES6 were 10,331 vehicles
Quarterly Vehicle Margin reached 9.7%
Quarterly Gross Margin reached 8.4%
SHANGHAI, China, Aug. 11, 2020 (GLOBE NEWSWIRE) — NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today announced its unaudited financial results for the second quarter ended June 30, 2020.
Operating Highlights for the Second Quarter of 2020
- Deliveries of vehicles were 10,331 in the second quarter of 2020, including 8,068 ES6s and 2,263 ES8s, compared with 3,553 vehicles delivered in the second quarter of 2019 and 3,838 vehicles delivered in the first quarter of 2020.
Key Operating Results
2020 Q2 | 2020 Q1 | 2019 Q4 | 2019 Q3 | |
Deliveries | 10,331 | 3,838 | 8,224 | 4,799 |
2019 Q2 | 2019 Q1 | 2018 Q4 | 2018 Q3 | |
Deliveries | 3,553 | 3,989 | 7,980 | 3,268 |
Financial Highlights for the Second Quarter of 2020
- Vehicle sales were RMB3,486.1 million (US$493.4 million) in the second quarter of 2020, representing an increase of 146.5% from the second quarter of 2019 and an increase of 177.6% from the first quarter of 2020.
- Vehicle marginii was 9.7%, compared with negative 24.1% in the second quarter of 2019 and negative 7.4% in the first quarter of 2020.
- Total revenues were RMB3,718.9 million (US$526.4 million) in the second quarter of 2020, representing an increase of 146.5% from the second quarter of 2019 and an increase of 171.1% from the first quarter of 2020.
- Gross profit in the second quarter of 2020 was RMB313.1 million (US$44.3 million), representing an increase of RMB817.3 million from a gross loss of RMB504.2 million in the second quarter of 2019 and an increase of RMB480.6 million from a gross loss of RMB167.5 million in the first quarter of 2020.
- Gross margin was 8.4%, compared with negative 33.4% in the second quarter of 2019 and negative 12.2% in the first quarter of 2020.
- Loss from operations was RMB1,160.0 million (US$164.2 million) in the second quarter of 2020, representing a decrease of 64.0% from the second quarter of 2019 and a decrease of 26.1% from the first quarter of 2020. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB1,114.7 million (US$157.8 million) in the second quarter of 2020, representing a decrease of 64.4 % from the second quarter of 2019 and a decrease of 27.5% from the first quarter of 2020.
- Net loss was RMB1,176.7 million (US$166.5 million) in the second quarter of 2020, representing a decrease of 64.2% from the second quarter of 2019 and a decrease of 30.4% from the first quarter of 2020. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB1,131.4 million (US$160.1 million) in the second quarter of 2020, representing a decrease of 64.6% from the second quarter of 2019 and a decrease of 31.8% from the first quarter of 2020.
- Net loss attributable to NIO’s ordinary shareholders was RMB1,207.8 million (US$171.0 million) in the second quarter of 2020, representing a decrease of 63.6% from the second quarter of 2019 and a decrease of 29.9% from the first quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO’s ordinary shareholders (non-GAAP) was RMB1,131.0 million (US$160.1 million).
- Basic and diluted net loss per American Depositary Share (ADS)iii were both RMB1.15 (US$0.16) in the second quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per ADS (non-GAAP) were both RMB1.08 (US$0.15).
- Cash and cash equivalents, restricted cash and short-term investment were RMB11.2 billion (US$1.6 billion) as of June 30, 2020.
Key Financial Results
(in RMB million, except for per ordinary share data and percentage) |
||||||||||
2020 Q2 | 2020 Q1 | 2019 Q2 | % Changeiv | |||||||
QoQ | YoY | |||||||||
Vehicle Sales | 3,486.1 | 1,255.6 | 1,414.5 | 177.6% | 146.5% | |||||
Vehicle Margin | 9.7% | -7.4% | -24.1% | 1,710bp | 3,380bp | |||||
Total Revenues | 3,718.9 | 1,372.0 | 1,508.6 | 171.1% | 146.5% | |||||
Gross Profit/(Loss) | 313.1 | (167.5) | (504.2) | N/A | N/A | |||||
Gross Margin | 8.4% | -12.2% | -33.4% | 2,060bp | 4,180bp | |||||
Loss from Operations | (1,160.0) | (1,570.3) | (3,226.1) | -26.1% | -64.0% | |||||
Adjusted Loss from Operations (non-GAAP) | (1,114.7) | (1,537.9) | (3,133.9) | -27.5% | -64.4% | |||||
Net Loss | (1,176.7) | (1,691.8) | (3,285.8) | -30.4% | -64.2% | |||||
Adjusted Net Loss (non-GAAP) | (1,131.4) | (1,659.4) | (3,193.6) | -31.8% | -64.6% | |||||
Net Loss Attributable to Ordinary Shareholders | (1,207.8) | (1,722.8) | (3,313.7) | -29.9% | -63.6% | |||||
Net Loss per Ordinary Share-Basic and Diluted | (1.15) | (1.66) | (3.23) | -30.7% | -64.4% | |||||
Adjusted Net Loss per Ordinary Share-Basic and Diluted (non-GAAP) | (1.08) | (1.60) | (3.11) | -32.5% | -65.3% | |||||
Recent Developments
Deliveries in July 2020
- Deliveries of the ES8 and ES6 were 3,533 vehicles in July 2020, representing a robust 322.1% year-over-year growth. The deliveries consisted of 2,610 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 923 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV. As of July 31, 2020, cumulative deliveries of the ES8 and the ES6 reached 49,615 vehicles, of which 17,702 were delivered in 2020.
EC6
- NIO launched the EC6 on July 24, 2020 at the Chengdu Motor Show. The 5-seater premium smart electric coupe SUV starts at a pre-subsidy price of RMB 368,000, and is now available to order via the NIO app with delivery to start in September 2020.
The new model inherits NIO family design language with a touch of its stylish and sporty coupe silhouette. The EC6 boasts an excellent lightweight architecture and a drag coefficient of only 0.26Cd. Its superior dimensions and 2.9-meter long wheelbase offer a generous cabin space.
The EC6 excels in performance. Featuring a 160 kW PM motor in the front and a 240 kW induction motor in the rear, the electric drive system of the EC6 realizes 544 PS in max power and 725 N·m in peak torque. Enabled by its intelligent electric all-wheel-drive system, the EC6 accelerates from 0 to100 km/h in a snap of 4.5 seconds. Equipped with the optional 100 kWh battery pack, it can reach an NEDC range of up to 615 km.
Outstanding in both design and performance, the NIO EC6 presents itself as a highly competitive model for a younger and broader user base, and an excellent addition to our existing product lineup of ES8, the 6-seater and 7-seater flagship premium smart electric SUV, and ES6, the 5-seater high-performance premium smart electric SUV.
Substantial Completion of Cash Injections into NIO China
- On June 29, 2020, the Company announced that the strategic investors have substantially completed the cash injection obligations for the first two installments of their investments in NIO China. As of today, NIO (Anhui) Holding Co., Ltd., or NIO Anhui, the legal entity of NIO China wholly owned by the Company prior to the investments, has received from the investors the RMB5 billion cash investments for the first two installments in full.
As previously disclosed by the Company, from April to June 2020, for investments into NIO Anhui, the Company entered into an investment agreement, as amended and supplemented by supplemental investment agreements and a shareholders agreement, as amended and supplemented by supplemental shareholders agreements with Hefei City Construction and Investment Holding (Group) Co., Ltd., CMG-SDIC Capital Co., Ltd. and Anhui Provincial Emerging Industry Investment Co., Ltd., and, as applicable, their respective designated funds, Jianheng New Energy Fund, Advanced Manufacturing Industry Investment Fund, Anhui Provincial Sanzhong Yichuang Industry Development Fund Co., Ltd. and New Energy Automobile Fund.
NIO has also injected its cash investment of RMB1.278 billion for the first installment and RMB1.278 billion for the second installment and is fulfilling its other obligations, including injecting the Asset Consideration into NIO Anhui, in accordance with the definitive agreements.
Completion of Offering of American Depositary Shares
- In June 2020, NIO completed the offering of 72,000,000 American depositary shares, each representing one Class A ordinary share of the Company, at a price of US$5.95 per ADS, and an additional overallotment of 10,800,000 American depositary shares.
NIO plans to use the net proceeds from the ADS Offering mainly to fund its cash investments in NIO China, as well as other working capital needs. The Company expects NIO China to use the cash investments for research and development of products, services and technology, development of our manufacturing facilities and roll-out of our supply chain, operation and development of our sales and service network and general business support purpose.
CEO and CFO Comments
“We achieved a record-high quarterly deliveries of 10,331 ES8 and ES6 vehicles in total in the second quarter of 2020 and expect to deliver 11,000 to 11,500 vehicles in the third quarter as the momentum continues,” said William Bin Li, founder, chairman and chief executive officer of NIO. “The current constraints on the productions will be lifted in the near future and we are confident that our production capacity can meet the accelerated demand of our models.”
“Beyond the strong order growth, we are proud to reach a milestone quarter with respect to the key financial metrics of the Company, highlighted with the historically high vehicle gross margin of 9.7%, lowest-ever operating losses and more importantly, a positive cash flow from operations for the first time in our history. We will continue to focus on improving operating efficiency across the company. Meanwhile, we stay committed to investing in the technologies and services to provide our users with the best products and experience in the future and to strengthening our leadership in the smart EV sector,” concluded Mr. Li.
“With the strong deliveries in the second quarter 2020, our vehicle margin significantly exceeded our target of over 5%, attributed to the increasing scale, higher average revenue per vehicle, reduced material costs and improved manufacturing efficiency,” added Wei Feng, NIO’s chief financial officer. “Additionally, we have demonstrated our capabilities to generate positive cash flow from operations, through the continuous improvement of our operational efficiency and our significantly optimized cash flow management. We will continue to enhance our efficiencies across the company in the rest of 2020 and beyond.”
Financial Results for the Second Quarter of 2020
Revenues
- Total revenues were RMB3,718.9 million (US$526.4 million) in the second quarter of 2020, representing an increase of 146.5% from the second quarter of 2019 and an increase of 171.1% from the first quarter of 2020.
- Vehicle sales were RMB3,486.1 million (US$493.4 million) in the second quarter of 2020, representing an increase of 146.5% from the second quarter of 2019 and an increase of 177.6% from the first quarter of 2020. The increase in vehicle sales of the second quarter of 2020, compared to the second quarter of 2019, was mainly contributed by the sales of the ES6 which began deliveries in late June 2019. The increase in vehicle sales of the second quarter of 2020, compared to the first quarter of 2020, was due to the increase of vehicle deliveries recovered from the COVID-19 outbreak in China.
- Other sales in the second quarter of 2020 were RMB232.8 million (US$33.0 million), representing an increase of 147.7% from the second quarter of 2019 and an increase of 100.0% from the first quarter of 2020. The increase in other sales of the second quarter of 2020, compared to the second quarter of 2019, was mainly attributed to increased revenues derived from the home chargers installed, service package and energy package subscribed, and accessories sold, which were in line with the increased vehicle sales in the second quarter of 2020.
Cost of Sales and Gross Margin
- Cost of sales in the second quarter of 2020 was RMB3,405.8 million (US$482.1 million), representing an increase of 69.2% from the second quarter of 2019 and an increase of 121.2% from the first quarter of 2020. The increase in cost of sales compared to the second quarter of 2019 was mainly driven by the increase of delivery volume of the ES6 and the ES8 in the second quarter of 2020.
- Gross profit in the second quarter of 2020 was RMB313.1 million (US$44.3 million), representing an increase of RMB817.3 million from a gross loss of RMB504.2 million in the second quarter of 2019 and an increase of RMB480.6 million from a gross loss of RMB167.5 million in the first quarter of 2020. The increase of gross profit compared to the second quarter of 2019 was mainly contributed by increased vehicle sales, and incurrence of the one-off cost in relation to the Company’s voluntary battery recall in the second quarter of 2019.
- Gross margin in the second quarter of 2020 was 8.4%, compared with negative 33.4% in the second quarter of 2019 and negative 12.2% in the first quarter of 2020. The increase of gross margin compared to the second quarter of 2019 was mainly driven by the increase of vehicle margin in the second quarter of 2020.
- Vehicle margin in the second quarter of 2020 was 9.7%, compared with negative 24.1% in the second quarter of 2019 and negative 7.4% in the first quarter of 2020. The increase of vehicle margin compared to the second quarter of 2019 and the first quarter of 2020 was mainly driven by the decrease in purchase price of certain materials and lower unit manufacturing cost attributed from increased production volume of the ES6 and the ES8 in the second quarter of 2020. Besides above, the increase of vehicle margin in the second quarter of 2020 compared to the second quarter of 2019 was also attributable to the impact of the one-off cost in relation to the Company’s voluntary battery recall in the second quarter of 2019.
Operating Expenses
- Research and development expenses in the second quarter of 2020 were RMB545.2 million (US$77.2 million), representing a decrease of 58.1% from the second quarter of 2019 and an increase of 4.4% from the first quarter of 2020. Excluding share-based compensation expenses (non-GAAP), research and development expenses were RMB533.5 million (US$75.5 million), representing a decrease of 58.4% from the second quarter of 2019 and an increase of 3.7% from the first quarter of 2020. The decrease in research and development expenses over the second quarter of 2019 was primarily attributable to the incurrence of expenses relating to rigorous testing activities of ES6 in the second quarter of 2019 before its mass production. Research and development expenses remained relatively stable compared with the first quarter of 2020, which mainly consisted of costs incurred for recurring projects, while mass investment stage has not yet reached for new projects.
- Selling, general and administrative expenses in the second quarter of 2020 were RMB936.8 million (US$132.6 million), representing a decrease of 34.1% from the second quarter of 2019 and an increase of 10.4% from the first quarter of 2020. Excluding share-based compensation expenses (non-GAAP), selling, general and administrative expenses were RMB904.5 million (US$128.0 million), representing a decrease of 33.1% from the second quarter of 2019 and an increase of 9.7% from the first quarter of 2020. The decrease in selling, general and administrative expenses over the second quarter of 2019 was primarily driven by the Company’s overall cost-saving efforts and the improved operating efficiency in marketing and other supporting functions. The increase in selling, general and administrative expenses over the first quarter of 2020 was primarily attributed to increased marketing and promotional activities and costs recovered from the COVID-19 outbreak in the first quarter of 2020.
Loss from Operations
- Loss from operations was RMB1,160.0 million (US$164.2 million) in the second quarter of 2020, representing a decrease of 64.0% from the second quarter of 2019 and a decrease of 26.1% from the first quarter of 2020. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB1,114.7 million (US$157.8 million) in the second quarter of 2020, representing a decrease of 64.4% from the second quarter of 2019 and a decrease of 27.5% from the first quarter of 2020.
Share-based Compensation Expenses
- Share-based compensation expenses in the second quarter of 2020 were RMB45.3 million (US$6.4 million), representing a decrease of 50.9% from the second quarter of 2019 and an increase of 39.8% from the first quarter of 2020. The decrease in share-based compensation expenses over the second quarter of 2019 was primarily due to less options granted driven by the decline in the number of employees, and the impact of part of the share-based compensation expenses being recognized by using the accelerated method, under which the expenses decrease gradually over the vesting period. The increase in share-based compensation expenses over the first quarter of 2020 was primarily attributed to the incremental options granted in the second quarter of 2020.
Net Loss and Earnings Per Share
- Net loss was RMB1,176.7 million (US$166.5 million) in the second quarter of 2020, representing a decrease of 64.2% from the second quarter of 2019 and a decrease of 30.4% from the first quarter of 2020. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB1,131.4 million (US$160.1 million) in the second quarter of 2020, representing a decrease of 64.6% from the second quarter of 2019 and a decrease of 31.8% from the first quarter of 2020.
- Net loss attributable to NIO’s ordinary shareholders was RMB1,207.8 million (US$171.0 million) in the second quarter of 2020, representing a decrease of 63.6% from the second quarter of 2019 and a decrease of 29.9% from the first quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO’s ordinary shareholders (non-GAAP) was RMB1,131.0 million (US$160.1 million).
- Basic and diluted net loss per ADS were both RMB1.15 (US$0.16) in the second quarter of 2020. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per ADS (non-GAAP) were both RMB1.08 (US$0.15).
Balance Sheets
- Balance of cash and cash equivalents, restricted cash and short-term investment was RMB11.2 billion (US$1.6 billion) as of June 30, 2020. The Company operates with continuous loss and negative equity. The Company’s continuous operation depends on the successful implementation of the management’s plans which considers the improvements in its operating cash flows and the consummation of the investments in NIO China from strategic investors. Based on its evaluation which considers the progress of the investments in NIO China, the Company believes that its existing working capital, the funds from the investments in NIO China and available loan facilities will be sufficient to support the Company’s continuous operations and developments in the next twelve months.
Business Outlook
For the third quarter of 2020, the Company expects:
- Deliveries of the vehicles to be between 11,000 and 11,500 vehicles, representing an increase of approximately 129.2% to 139.6% from the same quarter of 2019, and an increase of approximately 6.5% to 11.3% from the second quarter of 2020.
- Total revenues to be between RMB4,047.5 million (US$572.9 million) and RMB4,212.3 million (US$596.2 million), representing an increase of approximately 120.4% to 129.3% from the same quarter of 2019, and an increase of approximately 8.8% to 13.3% from the second quarter of 2020.
This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.
Conference Call
The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 11, 2020 (8:00 PM Beijing/Hong Kong Time on August 11, 2020) to discuss financial results and answer questions from investors and analysts. Listeners may register in advance of the conference using the link provided below and dial in 10 minutes prior to the call, using participant dial-in numbers, Direct Event passcode and unique registrant ID which would be provided upon registering.
http://apac.directeventreg.com/registration/event/8596325
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.nio.com.
A replay of the conference call will be accessible by phone approximately two hours after the conclusion of the live call at the following numbers, until August 19, 2020 09:59 AM ET:
United States: | +1-646-254-3697 |
International: | +61-2-8199-0299 |
Hong Kong: | +852-3051-2780 |
Conference ID: | 8596325 |
About NIO Inc.
NIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO designs, jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next generation technologies in connectivity, autonomous driving and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive, convenient and innovative charging solutions and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began the first deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium smart electric coupe SUV, in December 2019 and plans to commence deliveries in 2020.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, quotations from management in this announcement, as well as NIO’s strategic and operational plans, contain forward-looking statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture a car of sufficient quality and appeal to customers on schedule and on a large scale; its ability to grow manufacturing in collaboration with partners; its ability to provide convenient charging solutions to its customers; its ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of the ES8 and ES6; its ability to control costs associated with its operations; its ability to build the NIO brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the SEC. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Non-GAAP Disclosure
The Company uses non-GAAP measures, such as adjusted cost of sales (non-GAAP), adjusted research and development expenses (non-GAAP), adjusted selling, general and administrative expenses (non-GAAP), adjusted loss from operations (non-GAAP), adjusted net loss (non-GAAP), adjusted net loss attributable to ordinary shareholders (non-GAAP), adjusted basic and diluted net loss per share (non-GAAP) and adjusted basic and diluted net loss per ADS (non-GAAP), in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.
The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.
For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.
Exchange Rate
This announcement contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.0651 to US$1.00, the noon buying rate in effect on June 30, 2020 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.
Statement Regarding Preliminary Unaudited Financial Information
The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company’s year-end audit, which could result in significant differences from this preliminary unaudited financial information.
For more information, please visit: http://ir.nio.com.
Contacts:
NIO Inc.
Investor Relations
Tel: +86-21-6908-2018
Email: [email protected]
Source: NIO
NIO INC.
Unaudited Consolidated Balance Sheets
Amounts expressed in Renminbi (“RMB”), unless otherwise stated |
(in thousands, except for share and per share data) |
December 31, 2019 | June 30, 2020 | June 30, 2020 | ||||||
(audited) | (unaudited) | (unaudited) | ||||||
(US$) | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | 862,839 | 10,494,509 | 1,485,401 | |||||
Restricted cash | 82,507 | 441,413 | 62,478 | |||||
Short-term investment | 111,000 | 231,590 | 32,779 | |||||
Trade receivable | 1,352,093 | 1,377,230 | 194,934 | |||||
Amounts due from related parties | 50,783 | 50,635 | 7,167 | |||||
Inventory | 889,528 | 1,023,986 | 144,936 | |||||
Prepayments and other current assets | 1,579,258 | 1,469,523 | 207,997 | |||||
Total current assets | 4,928,008 | 15,088,886 | 2,135,692 | |||||
Non-current assets: | ||||||||
Long-term restricted cash | 44,523 | 45,084 | 6,381 | |||||
Property, plant and equipment, net | 5,533,064 | 5,178,352 | 732,948 | |||||
Intangible assets, net | 1,522 | 1,104 | 156 | |||||
Land use rights, net | 208,815 | 206,392 | 29,213 | |||||
Long-term investments | 115,325 | 155,225 | 21,971 | |||||
Right-of-use assets – operating lease | 1,997,672 | 1,500,764 | 212,419 | |||||
Other non-current assets | 1,753,100 | 974,869 | 137,984 | |||||
Total non-current assets | 9,654,021 | 8,061,790 | 1,141,072 | |||||
Total assets | 14,582,029 | 23,150,676 | 3,276,764 | |||||
LIABILITIES | ||||||||
Current liabilities: | ||||||||
Short-term borrowings | 885,620 | 3,955,613 | 559,881 | |||||
Trade payable | 3,111,699 | 3,917,525 | 554,489 | |||||
Amounts due to related parties | 309,729 | 485,994 | 68,788 | |||||
Taxes payable | 43,986 | 76,913 | 10,886 | |||||
Current portion of operating lease liabilities | 608,747 | 658,918 | 93,263 | |||||
Current portion of long-term borrowings | 322,436 | 420,038 | 59,453 | |||||
Accruals and other liabilities | 4,216,641 | 3,534,072 | 500,215 | |||||
Total current liabilities | 9,498,858 | 13,049,073 | 1,846,975 | |||||
Non-current liabilities: | ||||||||
Long-term borrowings | 7,154,798 | 7,052,650 | 998,238 | |||||
Non-current operating lease liabilities | 1,598,372 | 1,134,327 | 160,553 | |||||
Other non-current liabilities | 1,151,813 | 1,391,651 | 196,975 | |||||
Total non-current liabilities | 9,904,983 | 9,578,628 | 1,355,766 | |||||
Total liabilities | 19,403,841 | 22,627,701 | 3,202,741 | |||||
NIO INC.
Unaudited Consolidated Balance Sheets
Amounts expressed in Renminbi (“RMB”), unless otherwise stated |
(in thousands, except for share and per share data) |
December 31, 2019 | June 30, 2020 | June 30, 2020 | ||||||
(audited) | (unaudited) | (unaudited) | ||||||
(US$) | ||||||||
MEZZANINE EQUITY | ||||||||
Redeemable non-controlling interests | 1,455,787 | 6,311,668 | 893,359 | |||||
Total mezzanine equity | 1,455,787 | 6,311,668 | 893,359 | |||||
SHAREHOLDERS’ DEFICIT | ||||||||
Ordinary shares | 1,827 | 1,992 | 282 | |||||
Additional paid in capital | 40,227,856 | 43,726,092 | 6,189,026 | |||||
Accumulated other comprehensive loss | (203,048 | ) | (306,113 | ) | (43,327 | ) | ||
Accumulated deficit | (46,326,321 | ) | (49,216,851 | ) | (6,966,193 | ) | ||
Total NIO Inc. shareholders’ deficit | (6,299,686 | ) | (5,794,880 | ) | (820,212 | ) | ||
Non-controlling interests | 22,087 | 6,187 | 876 | |||||
Total shareholders’ deficit | (6,277,599 | ) | (5,788,693 | ) | (819,336 | ) | ||
Total liabilities, mezzanine equity and shareholders’ deficit | 14,582,029 | 23,150,676 | 3,276,764 | |||||
NIO INC.
Unaudited Consolidated Statements of Comprehensive Loss
Amounts expressed in Renminbi (“RMB”), unless otherwise stated |
(in thousands, except for share and per share data) |
Three Months Ended | |||||||||||
June 30, 2019 | March 31, 2020 | June 30, 2020 | June 30, 2020 | ||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||
(US$) | |||||||||||
Revenues: | |||||||||||
Vehicle sales | 1,414,533 | 1,255,597 | 3,486,089 | 493,424 | |||||||
Other sales | 94,037 | 116,355 | 232,841 | 32,957 | |||||||
Total revenues | 1,508,570 | 1,371,952 | 3,718,930 | 526,381 | |||||||
Cost of sales: | |||||||||||
Vehicle sales | (1,755,017 | ) | (1,348,749 | ) | (3,148,621 | ) | (445,658 | ) | |||
Other sales | (257,737 | ) | (190,682 | ) | (257,168 | ) | (36,400 | ) | |||
Total cost of sales | (2,012,754 | ) | (1,539,431 | ) | (3,405,789 | ) | (482,058 | ) | |||
Gross (loss)/profit | (504,184 | ) | (167,479 | ) | 313,141 | 44,323 | |||||
Operating expenses: | |||||||||||
Research and development | (1,300,531 | ) | (522,359 | ) | (545,185 | ) | (77,166 | ) | |||
Selling, general and administrative | (1,421,392 | ) | (848,346 | ) | (936,788 | ) | (132,594 | ) | |||
Other operating (loss)/income, net | — | (32,084 | ) | 8,829 | 1,250 | ||||||
Total operating expenses | (2,721,923 | ) | (1,402,789 | ) | (1,473,144 | ) | (208,510 | ) | |||
Loss from operations | (3,226,107 | ) | (1,570,268 | ) | (1,160,003 | ) | (164,187 | ) | |||
Interest income | 46,519 | 17,649 | 20,584 | 2,913 | |||||||
Interest expenses | (96,884 | ) | (110,496 | ) | (112,917 | ) | (15,982 | ) | |||
Share of losses of equity investees, net of tax | (28,214 | ) | (14,015 | ) | (4,408 | ) | (624 | ) | |||
Other income/(loss), net | 22,600 | (13,204 | ) | 82,107 | 11,621 | ||||||
Loss before income tax expense | (3,282,086 | ) | (1,690,334 | ) | (1,174,637 | ) | (166,259 | ) | |||
Income tax expense | (3,679 | ) | (1,474 | ) | (2,017 | ) | (285 | ) | |||
Net loss | (3,285,765 | ) | (1,691,808 | ) | (1,176,654 | ) | (166,544 | ) | |||
Accretion on redeemable non-controlling interests to redemption value | (31,561 | ) | (31,561 | ) | (31,561 | ) | (4,467 | ) | |||
Net loss attributable to non-controlling interests | 3,670 | 532 | 368 | 52 | |||||||
Net loss attributable to ordinary shareholders of NIO Inc. | (3,313,656 | ) | (1,722,837 | ) | (1,207,847 | ) | (170,959 | ) | |||
Net loss | (3,285,765 | ) | (1,691,808 | ) | (1,176,654 | ) | (166,544 | ) | |||
Other comprehensive (loss)/income | |||||||||||
Foreign currency translation adjustment, net of nil tax | (70,139 | ) | (109,542 | ) | 6,477 | 917 | |||||
Total other comprehensive (loss)/income | (70,139 | ) | (109,542 | ) | 6,477 | 917 | |||||
Total comprehensive loss | (3,355,904 | ) | (1,801,350 | ) | (1,170,177 | ) | (165,627 | ) |
Accretion on redeemable non-controlling interests to redemption value | (31,561 | ) | (31,561 | ) | (31,561 | ) | (4,467 | ) | |||
Net loss attributable to non-controlling interests | 3,670 | 532 | 368 | 52 | |||||||
Comprehensive loss attributable to ordinary shareholders of NIO Inc. | (3,383,795 | ) | (1,832,379 | ) | (1,201,370 | ) | (170,042 | ) |
Weighted average number of ordinary shares used in computing net loss per share | ||||||||
Basic and diluted | 1,026,505,444 | 1,037,488,350 | 1,054,638,822 | 1,054,638,822 | ||||
Net loss per share attributable to ordinary shareholders | ||||||||
Basic and diluted | (3.23 | ) | (1.66 | ) | (1.15 | ) | (0.16 | ) |
Weighted average number of ADS used in computing net loss per share | ||||||||
Basic and diluted | 1,026,505,444 | 1,037,488,350 | 1,054,638,822 | 1,054,638,822 | ||||
Net loss per ADS attributable to ordinary shareholders | ||||||||
Basic and diluted | (3.23 | ) | (1.66 | ) | (1.15 | ) | (0.16 | ) |
NIO INC.
Unaudited Reconciliation of GAAP and Non-GAAP Results
Amounts expressed in Renminbi (“RMB”), unless otherwise stated |
(in thousands, except for share and per share data) |
Three Months Ended June 30, 2020 | ||||||||||||||||
GAAP Result |
% of Total |
Non-GAAP Adjustment |
% of Total |
Non-GAAP Result |
% of Total |
|||||||||||
Revenues | Revenues | Revenues | ||||||||||||||
Share-based compensation included in cost of sales and operating expenses is as follows: | ||||||||||||||||
Cost of sales | (3,405,789 | ) | -91.6 | % | 1,296 | 0.0 | % | (3,404,493 | ) | -91.6 | % | |||||
Research and development expenses | (545,185 | ) | -14.7 | % | 11,659 | 0.3 | % | (533,526 | ) | -14.4 | % | |||||
Selling, general and administrative expenses | (936,788 | ) | -25.2 | % | 32,333 | 0.9 | % | (904,455 | ) | -24.3 | % | |||||
Total | (4,887,762 | ) | -131.5 | % | 45,288 | 1.2 | % | (4,842,474 | ) | -130.3 | % | |||||
Loss from operations | (1,160,003 | ) | -31.2 | % | 45,288 | 1.2 | % | (1,114,715 | ) | -30.0 | % | |||||
Net loss | (1,176,654 | ) | -31.6 | % | 45,288 | 1.2 | % | (1,131,366 | ) | -30.4 | % | |||||
Accretion on redeemable non-controlling interests to redemption value | (31,561 | ) | -0.8 | % | 31,561 | 0.8 | % | — | 0.0 | % | ||||||
Net loss attributable to ordinary shareholders of NIO Inc. | (1,207,847 | ) | -32.5 | % | 76,849 | 2.1 | % | (1,130,998 | ) | -30.4 | % | |||||
Net loss per share attributable to ordinary shareholders, basic and diluted (RMB) | (1.15 | ) | 0.07 | (1.08 | ) | |||||||||||
Net loss per ADS attributable to ordinary shareholders, basic and diluted (RMB) | (1.15 | ) | 0.07 | (1.08 | ) | |||||||||||
Net loss per ADS attributable to ordinary shareholders, basic and diluted (USD) | (0.16 | ) | 0.01 | (0.15 | ) | |||||||||||
Three Months Ended March 31, 2020 | ||||||||||||||||
GAAP Result |
% of Total |
Non-GAAP Adjustment |
% of Total |
Non-GAAP Result |
% of Total |
|||||||||||
Revenues | Revenues | Revenues | ||||||||||||||
Share-based compensation included in cost of sales and operating expenses is as follows: | ||||||||||||||||
Cost of sales | (1,539,431 | ) | -112.2 | % | 908 | 0.1 | % | (1,538,523 | ) | -112.1 | % | |||||
Research and development expenses | (522,359 | ) | -38.1 | % | 7,939 | 0.6 | % | (514,420 | ) | -37.5 | % | |||||
Selling, general and administrative expenses | (848,346 | ) | -61.8 | % | 23,520 | 1.7 | % | (824,826 | ) | -60.1 | % | |||||
Total | (2,910,136 | ) | -212.1 | % | 32,367 | 2.4 | % | (2,877,769 | ) | -209.7 | % | |||||
Loss from operations | (1,570,268 | ) | -114.5 | % | 32,367 | 2.4 | % | (1,537,901 | ) | -112.1 | % | |||||
Net loss | (1,691,808 | ) | -123.4 | % | 32,367 | 2.4 | % | (1,659,441 | ) | -121.0 | % | |||||
Accretion on redeemable non-controlling interests to redemption value | (31,561 | ) | -2.3 | % | 31,561 | 2.3 | % | — | 0.0 | % | ||||||
Net loss attributable to ordinary shareholders of NIO Inc. | (1,722,837 | ) | -125.6 | % | 63,928 | 4.7 | % | (1,658,909 | ) | -120.9 | % | |||||
Net loss per share attributable to ordinary shareholders, basic and diluted (RMB) | (1.66 | ) | 0.06 | (1.60 | ) | |||||||||||
Net loss per ADS attributable to ordinary shareholders, basic and diluted (RMB) | (1.66 | ) | 0.06 | (1.60 | ) | |||||||||||
Three Months Ended June 30, 2019 | ||||||||||||||||
GAAP Result |
% of Total |
Non-GAAP Adjustment |
% of Total |
Non-GAAP Result |
% of Total |
|||||||||||
Revenues | Revenues | Revenues | ||||||||||||||
Share-based compensation included in cost of sales and operating expenses is as follows: | ||||||||||||||||
Cost of sales | (2,012,754 | ) | -133.4 | % | 3,362 | 0.2 | % | (2,009,392 | ) | -133.2 | % | |||||
Research and development expenses | (1,300,531 | ) | -86.2 | % | 18,784 | 1.2 | % | (1,281,747 | ) | -85.0 | % | |||||
Selling, general and administrative expenses | (1,421,392 | ) | -94.2 | % | 70,064 | 4.6 | % | (1,351,328 | ) | -89.6 | % | |||||
Total | (4,734,677 | ) | -313.8 | % | 92,210 | 6.0 | % | (4,642,467 | ) | -307.8 | % | |||||
Loss from operations | (3,226,107 | ) | -213.8 | % | 92,210 | 6.0 | % | (3,133,897 | ) | -207.8 | % | |||||
Net loss | (3,285,765 | ) | -217.8 | % | 92,210 | 6.0 | % | (3,193,555 | ) | -211.8 | % | |||||
Accretion on redeemable non-controlling interests to redemption value | (31,561 | ) | -2.1 | % | 31,561 | 2.1 | % | — | 0.0 | % | ||||||
Net loss attributable to ordinary shareholders of NIO Inc. | (3,313,656 | ) | -219.7 | % | 123,771 | 8.2 | % | (3,189,885 | ) | -211.5 | % | |||||
Net loss per share attributable to ordinary shareholders, basic and diluted (RMB) | (3.23 | ) | 0.12 | (3.11 | ) | |||||||||||
Net loss per ADS attributable to ordinary shareholders, basic and diluted (RMB) | (3.23 | ) | 0.12 | (3.11 | ) | |||||||||||
i All translations from RMB to USD for the Second quarter of 2020 were made at the rate of RMB7.0651 to US$1.00, the noon buying rate in effect on June 30, 2020 in the H.10 statistical release of the Federal Reserve Board.
ii Vehicle margin is the margin of vehicle sales, which is calculated based on revenues and cost of sales derived from vehicle sales only.
iii Each ADS represents one ordinary share.
iv Except for gross margin and vehicle margin, where absolute changes instead of percentage changes are calculated.
Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
For media inquiries, please contact [email protected]
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Artificial Intelligence
Malaysia Data Center Market to Witness $3.97 Billion Investment Opportunities by 2029, Get Insights on 34 Existing Data Centers and 33 Upcoming Facilities across Malaysia – Arizton
CHICAGO, April 18, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Malaysia data center market is growing at a CAGR of 13.92% during the forecast period.
To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Malaysia Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 3.97 Billion (2029)
Market Size (Area)
883 Thousand Sq. Feet (2029)
Market Size (Power Capacity)
163 MW (2029)
CAGR Investment (2023-2029)
13.92 %
Colocation Market Size (Revenue)
USD 1.23 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
Over the next few years, Malaysia is poised to witness significant growth in data center investments, driven by the influx of operators like AirTrunk, Equinix, Princeton Digital Group, and other leading companies. Key hubs like Cyberjaya, Kuala Lumpur, and Johor Bahru are expected to see heightened activity, hosting most of the country’s data centers.
The wholesale colocation sector is projected to experience a revenue surge fueled by major cloud players like Microsoft, Google, and AWS. These companies have unveiled plans to establish dedicated cloud regions within Malaysia, with expected timelines for deployment within the next one to two years. This trend underscores Malaysia’s growing importance as a regional hub for data infrastructure and cloud services.
Malaysia is among the top expensive markets globally for developing data centers. Malaysia’s data center construction cost in 2023 stood at about $8.5-$10 million per MW, making it the costliest market in the APAC region after Singapore and Jakarta.
Investment Opportunities in the Malaysia Data Center Market
In November 2023, ST Telemedia Global Data Centres announced its plans to develop a new data center campus in Johor. The construction of the first building is likely to begin soon and become operational by 2025. The company formed a joint venture with Basis Bay to develop a new data center campus with two buildings, Cyberjaya DC.2 and STT Kuala Lumpur 1 in Cyberjaya, Selangor.In October 2023, EDGNEX Data Centres by DAMAC announced its plans to enter the APAC market for the first time; the company is considering a facility in Cyberjaya, Selangor. The expected investment can cross the $52 million mark.In October 2023, Infinaxis Data Centre Holdings, the joint venture between Gaw Capital Partners and A3 Capital, announced the construction of its first data center facility in Cyberjaya. The facility will have 10 data halls and will likely be operational by Q2 2025.In September 2023, EdgeConneX announced its plans to expand its footprint in Malaysia with the development of three data centers sites across Bukit Jalil, Kuala Lumpur, and Cyberjaya. The company plans to develop data centers in partnership with Cyberview.To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Market Trends
According to IRENA, in 2022, hydroenergy accounted for around 69% of the renewable energy capacity in Malaysia, followed by solar energy, which contributed about 21%, along with a 10% contribution by bioenergy.Malaysia aims to achieve the target of net-zero carbon emissions by 2050. To make this goal a reality, WWF-Malaysia is partnering with Boston Consulting Group to develop an independent joint study on the country’s optimal net zero pathway.The government of Malaysia has established a green tariff scheme to support its carbon-neutrality target. Under the scheme, subscribers can get electricity from solar or hydro sources instead of fossil fuel sources.Mergers, acquisitions, joint ventures, and partnerships are key strategies employed by operators to expand their portfolios and global footprint. For example:
In December 2023, Chindata Group merged with BCPE Chivalry Merger Sub, a wholly owned subsidiary of BCPE Chivalry Bidco, completing its transition to a private company from a public one.November 2023 saw ST Telemedia Global Data Centres, in a joint venture with Basis Bay, announcing plans to develop a new data center campus with two buildings in Cyberjaya, Selangor.A3 Capital and Gaw Capital Partners formed a joint venture in February 2023 to establish Infinaxis Data Centre Holdings to develop and operate data centers across Malaysia and Southeast Asia.MN Holdings, an engineering services and solutions company, signed a Memorandum of Understanding (MoU) in April 2023 with Shanghai DC-Science, outlining an investment of approximately $600 million to develop a data center site at the Sedenak Tech Park, Johor.Why Should You Buy This Research?
Market size is available regarding investment, area, power capacity, and Malaysia colocation market revenue.An assessment of the data center investment in Malaysia by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing Malaysia data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in MalaysiaFacilities Covered (Existing): 34Facilities Identified (Upcoming): 33Coverage: 9 LocationsExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in MalaysiaColocation Market Revenue & Forecast (2023-2029)Wholesale vs. Retail Colocation Revenue (2023-2029)Retail Colocation PricingWholesale Colocation PricingThe Malaysia data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.A transparent research methodology and the analysis of the demand and supply aspects of the industry.Buy this Research @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Post-Purchase Benefit
1hr of free analyst discussion10% off on customizationThe Report Includes the Investment in the Following Areas:
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsSwitches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC and CRAHChillersCooling Tower and Dry CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & Commissioning ServicesBuilding & Engineering DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IV GeographySelangorJohorOther StatesVendor Landscape
IT Infrastructure Providers
Cisco SystemsDell TechnologiesFujitsuHewlett Packard EnterpriseHuawei TechnologiesIBMInspurLenovoNetAppData Center Construction Contractors & Sub-Contractors
Advance Power EngineeringAsima ArchitectsAVO TechnologyB-Global TechCTC-GlobalCSF GroupCyclect GroupDSCO GroupGamudaGCM TechnologiesHSS EngineersISGKienta Engineering ConstructionLSK EngineeringMES GroupM+W Group (Exyte)MN HoldingsNakanoNTT FACILITIESPowerware SystemsS5 EngineeringShaw ArchitectSunway Construction GroupUnique CentralSupport Infrastructure Providers
ABBCaterpillarCumminsEatonFuji ElectricHITEC Power ProtectionKOHLER PowerLegrandMitsubishi ElectricNarada Power SourcePiller Power SystemsRittalRolls-RoyceSchneider ElectricSiemensSocomecSTULZTraneVertivData Center Investors
Bridge Data CentresEdge CentresGDS ServicesIRIX (PP TELECOMMUNICATION)Keppel Data CentresNTT DATAOpen DCTM OneVantage Data CentersYTL Data Center HoldingsNew Entrants
AirTrunkAmazon Web Services (AWS)EdgeConneXEquinixFutureData (Cyclect Group + TSG Group)Googlei-BerhadInfinaxis Data Centre HoldingsMN Holdings + Shanghai DC-ScienceMicrosoftNEXTDCPrinceton Digital GroupRegal OrionSingtelST Telemedia Global Data CentresYondrTo Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Key Questions Answered in the Report:
What factors are driving the Malaysian data center industry?
How big is the Malaysia data center market?
How many MW of power capacity will be added across Malaysia during 2024 to 2029?
What is the growth rate of the Malaysia data center market?
Which states are included in the Malaysia data center market report?
Get the Detailed TOC @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
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We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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Artificial Intelligence
VIVOTEK Launches Successful Make Tomorrow Easier, Today! Vision During ISC West 2024
TAIPEI, April 18, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading IP security solution provider, announces that last week’s 2024 ISC West trade show in Las Vegas was a tremendous success as it unveiled the 2024 theme Make Tomorrow Easier, Today! to partners, attendees, and the media. Make Analytics Easier, Make Cloud Easier, Make Search Easier, and Make Integration Easier were the core essential components of the 2024 theme, and both the booth staff and visitors were very busy discussing its vision throughout the show. This also demonstrates that VIVOTEK’s AI security solutions and cloud-based service VORTEX attracted interests by many customers for their rich versatility in applications.
From the outset, it was clear that this year’s ISC West was going to surpass previous editions. There were more engagements, and these engagements lasted longer than the past as attendees and the media were hyper-focused on VORTEX, its new camera solutions, AI integration, re-launch of VIVOTEK Premium Partner Program, additional technology solutions, and the roll-out of the 2024 theme.
AI has quickly become a priority in the security industry, and it was a focal point of VIVOTEK’s strategy during the show as well. During its many sales and marketing meetings at ISC West, discussions primarily revolved around how to integrate AI into the product lines and software platforms, much to the gratification of its partners who are seeing a quickly growing need for this technology to satisfy their customers’ needs.
As many of its customers may know by now, VIVOTEK recently entered into an integration partnership with Kisi, a modern cloud-based access control solution based in Brooklyn, New York. This partnership aims to secure physical spaces dedicated to providing a seamless and efficient user experience, making Kisi ideally suited as a VIVOTEK partner. During ISC West, VIVOTEK provided Kisi with a station in the booth to perform demonstrations, which proved to be very popular during the show.
Throughout the event, VORTEX remained a central focal point and rapidly gained popularity among partners since its launch. This was evident throughout the show as the VORTEX station was continuously used for strategic demonstrations. As for the theme, attendees commended on how much they liked this year’s booth layout, how the message of “Making Tomorrow Easier, Today” was delivered in every stations, how accessible the staff was in meeting with them, and how much they enjoyed the partner reception party.
VIVOTEK’s commitment to innovation and customer-centric solutions shone brightly at ISC West, as evident in the overwhelmingly positive feedbacks it received from partners, end users, media, and even other exhibit manufacturers. VIVOTEK extends heartfelt thanks to everyone who contributed to making this year’s ISC West a tremendous success. We look forward to making next year’s ISC West even better!
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