NIO's gross profit margin dropped to single digits in the first quarter: Ledo's monthly sales of 20000 to 30000 vehicles can break even with the delivery of the third brand in the first half of next year. NIO has started to accelerate its product pace, and before the delivery of the second brand, the third brand has gradually become clear. On June 6th, NIO released its first quarter financial report for 2024, achieving a 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, an increase of 9.4% year-on-year; Its gross profit margin for automobiles was 9.2%, 5.1% in the same period of 2023, and 11.9% in the fourth quarter of last year. In terms of delivery volume, NIO delivered 30000 vehicles in the first quarter. Looking ahead to the second quarter of this year, NIO has given a relatively optimistic outlook. According to the delivery guidelines, NIO's delivery volume in the second quarter is expected to reach 54000 to 56000 vehicles, a year-on-year increase of 129.6% to 138.1%; The second quarter revenue is expected to reach 16.59 billion to 17.14 billion yuan, a year-on-year increase of 89.1% to 95.3%.