NIO (NIO) Company Report

Analyst Coverage

Research analysts who have asked questions during NIO earnings calls.

Paul Gong

UBS

10 questions for NIO

Also covers: LI, WRD, ZK

Tim Hsiao

Morgan Stanley

10 questions for NIO

Also covers: HSAI, LI, WRD +2 more

Ming Hsun Lee

Bank of America

9 questions for NIO

Also covers: LI, PONY, WRD +2 more

Yuqian Ding

HSBC

9 questions for NIO

Also covers: LI

Bin Wang

Deutsche Bank

7 questions for NIO

Also covers: ECX, LI, PONY +2 more

Jing Chang

CICC

6 questions for NIO

Also covers: LI

Tina Hou

Goldman Sachs Group, Inc.

6 questions for NIO

Also covers: HSAI, LI, RAAS +3 more

Nick Lai

JPMorgan Chase & Co.

4 questions for NIO

Also covers: XPEV

Ben Wang

Deutsche Bank

3 questions for NIO

Also covers: PONY

Jeff

B. Riley

2 questions for NIO

Also covers: CTMX

Jeff Chung

Citigroup

2 questions for NIO

Also covers: HSAI

Jim Chang

China International Capital Corporation Limited

2 questions for NIO

Xue Deng

CICC

2 questions for NIO

Y.C. Lai

JPMorgan Chase & Co.

2 questions for NIO

Also covers: XPEV

Nixon Lee

Bank of America

1 question for NIO

Latest news

Recent press releases and 8-K filings for NIO.

NIO Reports First Quarterly Profit in Q4 2025 and Outlines 2026 Growth Targets

NIO

Earnings

Guidance Update

New Projects/Investments

NIO reported its first-ever quarterly profit in Q4 2025, with total revenues reaching RMB 34.7 billion, marking a 75.9% year-over-year increase, and achieving a gross margin of 17.5%.
The company projects 40%-50% year-over-year sales volume growth and aims for full-year non-GAAP operating profit breakeven in 2026.
NIO plans to launch three new models in 2026, including the new ES9 in Q2, and will introduce 2026 versions of ET5, ET5T, ES6, and EC6 in Q2.
Its smart driving chip subsidiary, Shenji, secured CNY 2.257 billion in its first equity financing round, valuing it at over CNY 8 billion, and its second 5-nanometer automotive-grade chip is entering mass production.
The Power Swap network achieved 100 million cumulative swaps by February 6, 2026, and currently includes 3,815 Power Swap stations and over 28,000 Power Chargers globally.

2 days ago

Transcript

NIO Reports First Quarterly Profit in Q4 2025 and Provides Strong 2026 Guidance

NIO

Earnings

Guidance Update

Product Launch

NIO achieved its first-ever quarterly profit in Q4 2025, with a net profit of CNY 0.3 billion and non-GAAP operating profit of RMB1.25 billion, alongside positive free cash flow for two consecutive quarters and positive operating cash flow for the full year 2025.
The company reported strong Q4 2025 deliveries of 124,807 smart EVs, a 71.7% year-over-year increase, and guided for Q1 2026 deliveries between 80,000 and 83,000 vehicles, representing 90.1% to 97.2% year-over-year growth.
NIO maintains its 40%-50% annual volume growth target for 2026 and aims to achieve full-year non-GAAP operating profit breakeven.
Vehicle margin improved to 18.1% in Q4 2025, and overall gross margin reached 17.5%, supported by significant year-over-year decreases in R&D and SG&A expenses.
Strategic product launches are planned for 2026, including three new large models, and the smart driving chip company, Shenji, secured RMB2.257 billion in equity financing.

2 days ago

Transcript

NIO Reports First Quarterly Profit and Strong Q4 2025 Results

NIO

Earnings

Guidance Update

Product Launch

NIO achieved its first-ever quarterly profit in Q4 2025, reporting a GAAP operating profit of RMB 810 million and net profit of RMB 0.3 billion.
The company demonstrated strong growth in Q4 2025, delivering 124,807 smart EVs, a 71.7% year-over-year increase, and achieving total revenues of RMB 34.7 billion, up 75.9% year-over-year. For the full year 2025, deliveries totaled 326,028 vehicles, marking a 46.9% year-over-year increase.
Margins saw significant improvement in Q4 2025, with the vehicle margin reaching 18.1% and the overall gross margin increasing to 17.5%.
For Q1 2026, NIO expects total deliveries to be between 80,000 and 83,000 vehicles, and maintains a full year 2026 volume growth target of 40%-50%.
NIO's smart driving chip subsidiary, GeniTech, secured CNY 2.257 billion in its first round of equity financing, valuing the company at over CNY 8 billion. The company also plans to launch three new models in 2026.

2 days ago

Transcript

NIO Inc. Reports Strong Q4 and Full Year 2025 Results, Issues Q1 2026 Guidance

NIO

Earnings

Guidance Update

New Projects/Investments

NIO Inc. reported total revenues of RMB34,650.2 million (US$4,954.9 million) and 124,807 vehicle deliveries for the fourth quarter of 2025. For the full year 2025, total revenues reached RMB87,487.5 million (US$12,510.5 million) with 326,028 vehicle deliveries.
The company achieved a gross margin of 17.5% and a vehicle margin of 18.1% in Q4 2025, resulting in an adjusted profit from operations (non-GAAP) of RMB1,251.3 million (US$178.9 million) and a net profit of RMB282.7 million (US$40.4 million) for the quarter.
For the first quarter of 2026, NIO expects vehicle deliveries to be between 80,000 and 83,000 units, and total revenues are projected to be between RMB24,482 million (US$3,501 million) and RMB25,176 million (US$3,600 million).
NIO is increasing its controlling equity interest in NIO China to 92.9% for no more than RMB1.002 billion, and investors are investing RMB2.257 billion in Shenji, NIO's intelligent-driving chip subsidiary, where NIO will retain a 62.7% controlling interest.

2 days ago

6-K

NIO Inc. Reports Fourth Quarter and Full Year 2025 Financial Results

NIO

Earnings

Guidance Update

Revenue Acceleration/Inflection

NIO Inc. reported total revenues of RMB34,650.2 million (US$4,954.9 million) for the fourth quarter of 2025, achieving its first quarterly adjusted profit from operations (non-GAAP) of RMB1,251.3 million (US$178.9 million).
Vehicle deliveries reached 124,807 units in Q4 2025, contributing to full-year 2025 deliveries of 326,028 units and total revenues of RMB87,487.5 million (US$12,510.5 million).
The vehicle margin improved to 18.1% in Q4 2025, compared to 13.1% in Q4 2024 and 14.7% in Q3 2025.
For the first quarter of 2026, NIO expects vehicle deliveries between 80,000 and 83,000 units and total revenues between RMB24,482 million (US$3,501 million) and RMB25,176 million (US$3,600 million).

2 days ago

Press Release

NIO Inc. Adopts 2026 Share Incentive Plan and Grants Performance-Based Share Awards to CEO

NIO

Executive Compensation

NIO Inc. adopted its 2026 Share Incentive Plan on March 6, 2026, which will remain in effect for a term of twelve years.
The plan authorizes the issuance of a maximum aggregate of 248,454,460 Class A ordinary shares, representing 10% of the company's total outstanding shares as of February 28, 2026.
Under this plan, Mr. Bin Li, the Chairman and CEO, was granted 248,454,460 restricted share units (RSUs), divided into ten equal tranches.
The vesting of these RSUs is contingent upon NIO Inc. achieving specific performance targets, including market capitalization thresholds (up to US$120 billion) and net profit thresholds (up to US$6.0 billion), in addition to Mr. Li's continued service.
Mr. Li has irrevocably agreed not to sell, transfer, or dispose of any Class A ordinary shares issued under the 2026 Plan during a 5-year period following the vesting of the restricted share units.

2 days ago

6-K

NIO Inc. Provides February 2026 Delivery Update

NIO

Revenue Acceleration/Inflection

NIO Inc. delivered 20,797 vehicles in February 2026, representing a 57.6% increase year-over-year.
Year-to-date deliveries for 2026 reached 47,979 vehicles, an increase of 77.3% year-over-year.
Cumulative deliveries for the company totaled 1,045,571 vehicles as of February 28, 2026.
February 2026 deliveries included 15,159 vehicles from the NIO brand, 2,981 from the ONVO brand, and 2,657 from the FIREFLY brand.

Mar 2, 2026, 11:05 AM

6-K

NIO Inc. Announces February 2026 Delivery Results

NIO

Revenue Acceleration/Inflection

NIO delivered 20,797 vehicles in February 2026, representing a 57.6% increase year-over-year.
Year-to-date deliveries for 2026 reached 47,979 vehicles, an increase of 77.3% year-over-year.
The company's cumulative deliveries totaled 1,045,571 as of February 28, 2026.
On February 6, 2026, NIO achieved a significant milestone of 100 million cumulative battery swaps, demonstrating the large-scale validation of its battery swapping model.

Mar 1, 2026, 7:30 AM

Press Release

NIO Subsidiary Secures RMB2.257 Billion Investment

NIO

New Projects/Investments

NIO Inc.'s subsidiary, GeniTech Co., Ltd. (Shenji), has entered into definitive agreements with certain investors in China. Shenji is primarily responsible for NIO's intelligent-driving chip related business.
The Shenji Investors will invest an aggregate of RMB2.257 billion in cash to subscribe for Shenji's newly issued shares.
Upon completion of the Investment Transaction, a subsidiary of NIO will continue to hold a controlling equity interest of 62.7% in Shenji, and NIO will continue to consolidate its financial results.

Feb 26, 2026, 11:03 AM

6-K

NIO Subsidiary GeniTech Secures RMB2.257 Billion Investment

NIO

New Projects/Investments

NIO Inc.'s subsidiary, GeniTech Co., Ltd. (Shenji), which is responsible for NIO's intelligent-driving chip related business, has entered into definitive agreements with certain investors in China.
These Shenji Investors will invest an aggregate of RMB2.257 billion in cash to subscribe for Shenji's newly issued shares.
Upon completion of the transaction, a NIO subsidiary will continue to hold a controlling equity interest of 62.7% in Shenji, and NIO will continue to consolidate its financial results.

Feb 26, 2026, 9:30 AM

Press Release