Nio reports Q4 EPS adjusted RMB0.29, consensus RMB0.05

Reports Q4 revenue RMB34.65B, consensus RMB33.25B. “In Q4 of 2025, the company delivered 124,807 smart electric vehicles, representing a year-over-year increase of 71.7%, with quarterly deliveries of our NIO (NIO), ONVO and FIREFLY brands each reaching record highs,” said CEO William Bin Li. “For the full year of 2025, total deliveries across the three brands reached 326,028 units, up 46.9% year over year, reflecting our accelerating growth trajectory. We expect total deliveries in Q1 of 2026 to be between 80,000 and 83,000 units, representing a year-over-year increase of 90.1% to 97.2%…Looking ahead to 2026, we will continue to invest decisively in our twelve full-stack core technologies, launch new models, enhance the commercial and operational capabilities of our battery swapping and charging network, and continue upgrading our sales and service network”. “In Q4 of 2025, our vehicle margin reached 18.1%, and other sales margin reached 11.9%. These improvements were primarily driven by the strong delivery and revenue growth, an optimized product mix, and cost reduction and efficiency enhancement initiatives. We achieved non-GAAP operating profit of RMB1,251.3 million for the first time on a quarterly basis in Q4 of 2025, marking a major milestone in our operating performance,” said CFO Stanley Yu Qu.