In 2025, NIO-SW (09866) achieved a total income of 87.4875 billion yuan, an increase of 33.1% year-on-year.

NIO-SW (09866) announced that in the fourth quarter of 2025, the automotive sales revenue was 31.6062 billion yuan ($45.196 billion), an increase of 80.9% from the fourth quarter of 2024 and 64.6% from the third quarter of 2025. The total revenue was 34.6502 billion yuan ($49.549 billion), an increase of 75.9% from the fourth quarter of 2024 and 59.0% from the third quarter of 2025. The gross profit was 6.0741 billion yuan ($8.686 billion), an increase of 163.1% from the fourth quarter of 2024 and 100.8% from the third quarter of 2025. For the full year of 2025, the automotive sales revenue was 76.8839 billion yuan ($109.942 billion), an increase of 32.0% from the previous year. The total revenue was 87.4875 billion yuan ($125.105 billion), an increase of 33.1% from the previous year. The gross profit was 11.9157 billion yuan ($17.039 billion), an increase of 83.5% from the previous year. The gross profit margin for the full year of 2025 was 13.6%, compared to 9.9% in the previous year. "In the fourth quarter of 2025, the company delivered a total of 124,807 smart electric vehicles, an increase of 71.7% year-on-year. The quarterly delivery volume of the NIO, Le Donda, and Firefly brands all reached historical highs," said NIO founder, chairman, and CEO, Li Bin. "For the full year of 2025, the three brands delivered a total of 326,028 vehicles, an increase of 46.9% year-on-year, achieving high-speed growth. We expect the total delivery volume for the first quarter of 2026 to be between 80,000 and 83,000 vehicles, an increase of 90.1% to 97.2% year-on-year." "In 2025, the comprehensive competitiveness of the three major brand products has been highly recognized in their respective segmented markets. The new ES8 by NIO continued to show strong delivery performance, breaking the record for monthly delivery of vehicles priced above 400,000 yuan; Le Donda L90 also performed exceptionally well, becoming the best-selling pure electric large SUV in 2025; Firefly has maintained a leading position in the high-end small car market since its launch. At the same time, the company's independently developed core technology for smart electric vehicles has been put into production successively, bringing significant technological cost reduction effectiveness while enhancing product competitiveness. In 2026, we will continue to invest resolutely and continuously in twelve core technologies, launch new vehicle models, enhance the energy commercial operation capability of the charging and swapping network, and further optimize and upgrade the sales and service network," Li Bin added. "In the fourth quarter of 2025, the company's vehicle gross margin was 18.1%, while other sales gross margin was 11.9%, mainly benefiting from the significant increase in sales volume and revenue, optimization of product structure, and cost reduction measures. The company achieved operating profit (non-GAAP) of 1.2513 billion yuan for the first time in a quarter in the fourth quarter of 2025, a major breakthrough in operational results," said NIO CFO, Qu Yu. "In 2026, the company will continue to enhance operational efficiency and cost optimization to provide more stable and robust operating performance for users, partners, and shareholders."