NIO's first quarter financial report shows negative shareholder equity

The first quarter financial report released by NIO shows that its shareholders' equity is negative, which means that the company's assets are not enough to cover its liabilities. This is the second time NIO has faced a similar dilemma since 2019. The financial report shows that NIO's total assets in the first quarter were 98.164 billion, liabilities were 90.849 billion, plus mezzanine equity of 7.586 billion, and shareholders' equity was -272 million.