NIO Inc. Class A (HK:9866)
:9866
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Earnings Data
Report Date
Sep 09, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.41Last Year’s EPS
-2.02Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong year-over-year operational and financial improvement: nearly doubled deliveries YoY, revenue growth >100% YoY, materially improved vehicle and overall gross margins, positive non-GAAP operating profit and positive operating cash flow, large cash balance, multiple product milestones and substantial progress on in-house chips and smart driving. Offsetting risks include quarter-over-quarter revenue and delivery declines, ongoing GAAP net loss, significant raw material and memory cost pressure (>RMB 10,000 per car), upfront investment needs for swap station expansion, and the need to build brand awareness for newer brands (ONVO). Management provided margin and profitability targets (vehicle margin ~17%-18% for full year, positive non-GAAP operating profit) and outlined mitigation actions. On balance, the strong YoY growth, improved margins, product momentum and cash generation outweigh the near-term headwinds and execution risks highlighted on the call.Company Guidance
Strong YoY Delivery Growth
Total deliveries of 83,465 smart EVs in Q1 2026, up 98.3% year-over-year. Brand breakdown: NIO 58,543; ONVO 13,339; FIREFLY 11,583. April deliveries 29,356, up 22.8% year-over-year.
Revenue and Vehicle Sales Expansion
Total revenues RMB 25.5 billion, up 112.2% year-over-year (down 26.3% quarter-over-quarter). Vehicle sales RMB 22.8 billion, up 129.2% year-over-year (down 27.9% quarter-over-quarter). Other sales RMB 2.7 billion, up 31.2% year-over-year.
Improved Gross and Vehicle Margins
Overall gross margin 19.0% in Q1 2026. Vehicle margin 18.8% (versus 10.2% in Q1 2025 and 18.1% in prior quarter). Other sales margin 20.6%, the highest in four years.
Return to Positive Adjusted Profitability and Cash Generation
Positive non-GAAP operating profit and positive operating cash flow in Q1. Loss from operations narrowed to RMB 0.3 billion (from loss RMB 6.4 billion YoY); adjusted profit from operations (ex. SBC) RMB 66.8 million. Adjusted net profit (ex. SBC) RMB 43.5 million. Ending cash and equivalents (and related balances) RMB 48.2 billion.
Record and Product Milestones
All-new ES8 reached 100,000 deliveries in 215 days (record for vehicles priced >RMB 400,000 in China). ONVO ES8 #1 in its large SUV and >RMB 400,000 passenger vehicle segments for 5 consecutive months. New ES9 completed 10,000 km challenge in 94 hours 19 minutes, setting a BEV record in China.
Active Product Launch Roadmap and Brand Expansion
Intensive multi-brand product launch & delivery cycle underway: ES9 deliveries began May 27, ONVO L90 and L80 launched, FIREFLY refreshed models started Q2 deliveries, NIO L60 debut planned late May. Company expects continued rapid delivery growth and plans ~7 to 5 new/updated products per year.
Smart Driving and In‑House Chip Progress
New NWM model rollout significantly improved smart driving: Urban NOP mileage +92% QoQ and smart driving usage time +116% QoQ. In-house 5nm smart driving chip (mass produced on ET9) with >250,000 chips shipped; company expects >80%-85% of cars to carry in-house chips in H2.
Service Network and Energy Infrastructure Scale
Expanded sales/service footprint: 168 NIO Houses, 389 new spaces, 430 ONVO stores, 408 service centers, 90 delivery centers. 3,916 power swap stations and >28,000 chargers worldwide. Target to build >1,000 power swap stations this year and roll out 5th-generation swap stations at scale in Q3.
Other Sales Profitability Upswing
Other sales margin reached 20.6% in Q1 (record in 4 years). Company targets ~20% other sales margin for full year 2026, citing improved aftersales, accessory and power services profitability.
HK:9866 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HK:9866 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 21, 2026 | HK$44.06 | HK$42.96 | -2.50% |
Mar 10, 2026 | HK$38.26 | HK$38.14 | -0.31% |
Nov 25, 2025 | HK$45.44 | HK$46.82 | +3.04% |
Sep 02, 2025 | HK$52.95 | HK$51.05 | -3.59% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does NIO Inc. Class A (HK:9866) report earnings?
NIO Inc. Class A (HK:9866) is schdueled to report earning on Sep 09, 2026, Before Open (Confirmed).
What is NIO Inc. Class A (HK:9866) earnings time?
NIO Inc. Class A (HK:9866) earnings time is at Sep 09, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of NIO Inc. Class A stock?
The P/E ratio of NIO Inc. Class A is N/A.
What is HK:9866 EPS forecast?
HK:9866 EPS forecast for the fiscal quarter 2026 (Q2) is -0.41.
