NIO Inc. Class A (9866) AI Stock Analysis

• Market Cap: HK$129.59B
• Dividend Yield: N/A
• Average Volume (3M): 11.11M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.32
• Revenue Growth: 9.20%
• EPS Growth: -5.48%
• Country: HK
• Employees: 45,635
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Manufacturers
• EPS (TTM): -2.02
• Shares Outstanding: 2,315,675,300
• 10 Day Avg. Volume: 9,875,126
• 30 Day Avg. Volume: 11,109,198
• PEG Ratio: 0.26
• Price to Book (P/B): 11.25
• Price to Sales (P/S): 1.02
• P/FCF Ratio: -3.95
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$59.75
• Price Target Upside: 8.64% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15

• Rating: 48 Neutral
• Price Target: HK$49.00 ▼(-10.91% Downside)

NIO Inc.'s overall stock score reflects strong sales growth and technological advancements, but is heavily weighed down by financial challenges, including negative profitability and cash flow issues. The technical analysis shows mixed signals, and the valuation is poor due to ongoing losses.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for NIO's products, suggesting effective market penetration and a solid business model.

International Expansion

Expanding internationally diversifies revenue streams and reduces dependency on the domestic market, enhancing long-term growth prospects.

Strategic Partnerships

Strengthened partnerships, like with SunCar, enhance NIO's service offerings, improving customer experience and competitive positioning.

Negative Factors

Profitability Challenges

Ongoing profitability issues indicate operational inefficiencies, which could hinder long-term financial sustainability and growth.

Rising Debt Levels

Increasing debt levels can strain cash flow and limit financial flexibility, posing risks to NIO's long-term financial health.

Cash Flow Challenges

Negative cash flow indicates liquidity issues, impacting NIO's ability to invest in growth and meet financial obligations.

NIO Inc. Class A Business Overview & Revenue Model

Company Description

NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five, six, and seven-seater electric SUVs, as well as smart electric sedans. The company is also involved in the provision of energy and service packages to its users; design and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. In addition, it offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Charger, a fast-charging solution; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service, where it offers vehicle pick up, charging, and swapping services. Further, the company provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers; statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; courtesy vehicle services; roadside assistance; data packages; and auto financing and financial leasing services. Additionally, it offers NIO Certified, a used vehicle inspection, evaluation, acquisition, and sales service. The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was incorporated in 2014 and is headquartered in Shanghai, China.

How the Company Makes Money

NIO generates revenue through multiple key streams, primarily from the sale of its electric vehicles. The company sells its various models directly to consumers, which is a significant portion of its revenue. Additionally, NIO has established a unique battery-as-a-service (BaaS) model that allows customers to buy vehicles without owning the battery, providing flexibility and reducing the initial purchase cost. This service generates recurring revenue through battery leasing fees. The company also benefits from sales of related services, including vehicle maintenance and software updates, as well as partnerships with various organizations for technology development and infrastructure support. Moreover, NIO has engaged in strategic collaborations with other automakers and tech companies to enhance its product offerings and expand its market presence.

NIO Inc. Class A Financial Statement Overview

Summary

NIO Inc. shows strong revenue growth but struggles with profitability and cash flow management. The declining gross profit margins and negative net income highlight operational inefficiencies. High debt levels and reduced equity position indicate financial risks, while negative cash flows present liquidity concerns.

Income Statement

NIO Inc.'s income statement shows a consistent growth in total revenue over the years, with a noticeable increase from 49.3 billion in 2022 to 65.7 billion in 2024. However, the company has been unable to convert this revenue growth into profitability, as indicated by the persistent negative net income and declining gross profit margins, which fell from 10.4% in 2021 to 9.9% in 2024. The EBIT and EBITDA margins remain negative, reflecting ongoing operational challenges.

Balance Sheet

The balance sheet highlights a stable asset base, but with rising total debt levels, which increased from 20 billion in 2021 to 33.7 billion in 2024, leading to a high debt-to-equity ratio. The stockholders' equity decreased significantly from 25.5 billion in 2023 to 5.9 billion in 2024, indicating financial strain. The equity ratio shows weakness, suggesting a reliance on debt financing.

Cash Flow

The cash flow analysis reveals negative operating cash flow, worsening from -1.38 billion in 2023 to -7.85 billion in 2024, and a negative free cash flow trajectory, which indicates cash flow challenges. The company has been unable to generate sufficient cash from operations to cover capital expenditures, posing liquidity risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	69.42B	65.73B	55.62B	49.27B	36.14B	16.26B
Gross Profit	7.13B	6.49B	3.05B	5.14B	6.82B	1.87B
EBITDA	-21.25B	-18.50B	-15.15B	-10.05B	-985.36M	-3.33B
Net Income	-24.31B	-22.66B	-21.15B	-14.56B	-10.57B	-5.61B
Balance Sheet
Total Assets	100.05B	107.60B	117.38B	96.26B	82.88B	54.64B
Cash, Cash Equivalents and Short-Term Investments	17.80B	33.47B	49.75B	39.06B	52.39B	42.38B
Total Debt	29.10B	33.77B	50.38B	23.71B	20.10B	9.52B
Total Liabilities	93.43B	94.10B	91.65B	68.62B	44.82B	27.47B
Stockholders Equity	-1.21B	5.97B	25.55B	23.87B	34.71B	27.17B
Cash Flow
Free Cash Flow	0.00	-16.99B	-15.72B	-10.84B	-2.11B	823.21M
Operating Cash Flow	0.00	-7.85B	-1.38B	-3.87B	1.97B	1.95B
Investing Cash Flow	0.00	-4.96B	-10.89B	10.39B	-39.76B	-5.07B
Financing Cash Flow	0.00	1.77B	27.66B	-1.62B	18.13B	41.36B

NIO Inc. Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 55.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9866, the sentiment is Positive. The current price of 55 is below the 20-day moving average (MA) of 55.73, above the 50-day MA of 51.83, and above the 200-day MA of 37.07, indicating a neutral trend. The MACD of 0.30 indicates Positive momentum. The RSI at 52.84 is Neutral, neither overbought nor oversold. The STOCH value of 75.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9866.

NIO Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0175	―	HK$197.52B	11.91	17.07%	1.73%	―	―
2333	―	$194.24B	11.17	13.04%	3.14%	7.93%	-12.94%
Sector *	―	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
2015	―	€171.48B	20.71	12.34%	―	7.09%	-21.36%
2238	―	$72.13B	-9.97	-3.15%	1.64%	-8.79%	-212.16%
9868	―	HK$158.49B	-34.06	-13.27%	―	65.91%	48.38%
9866	―	HK$129.59B	-4.23	-328.79%	―	9.20%	-5.48%

NIO Inc. Class A Corporate Events

NIO Day 2025: Unveiling Innovations in Electric Vehicles

NIO Inc. recently held its NIO Day 2025 event in Hangzhou, China, marking the first time the event took place in autumn. The event, themed ‘Grow with the Light,’ showcased NIO’s latest products and innovations, including the launch of the ET9 Horizon Edition and the All-New ES8, which highlight NIO’s commitment to technological advancement and luxury in the electric vehicle market. The ET9 Horizon Edition, with its unique two-tone design, and the All-New ES8, a premium large three-row SUV, represent NIO’s ongoing innovation in the electric vehicle sector. The event also emphasized NIO’s dedication to community support, with proceeds from the user marketplace being donated to charity.

The most recent analyst rating on (HK:9866) stock is a Hold with a HK$52.00 price target. To see the full list of analyst forecasts on NIO Inc. Class A stock, see the HK:9866 Stock Forecast page.

NIO Inc. Completes $1.16 Billion Equity Offering to Fuel Innovation and Growth

NIO Inc. has announced the completion of a US$1.16 billion equity offering, involving the sale of Class A ordinary shares and American depositary shares (ADSs). The proceeds from this offering will be used to invest in research and development of core technologies for smart electric vehicles, develop future technology platforms, expand its battery swapping and charging network, and strengthen its balance sheet. This move is expected to bolster NIO’s position in the smart electric vehicle industry and support its growth and innovation strategies.

The most recent analyst rating on (HK:9866) stock is a Hold with a HK$52.00 price target. To see the full list of analyst forecasts on NIO Inc. Class A stock, see the HK:9866 Stock Forecast page.

NIO Inc. Announces Major Share Offering Amid Regulatory Risks

NIO Inc. announced a primary offering of 181,818,190 Class A ordinary shares, divided between American Depositary Shares (ADSs) and ordinary shares, to be allocated based on investor interest. The company faces regulatory risks due to its structure involving VIEs in China, which could impact its operations if Chinese authorities challenge the enforceability of these arrangements.

NIO Inc. Announces US$1 Billion Equity Offering to Bolster Growth

NIO Inc. has announced the pricing of its US$1 billion equity offering, which includes American depositary shares and Class A ordinary shares. The proceeds will be used to invest in the research and development of core technologies for smart electric vehicles, expand its battery swapping and charging network, and strengthen its balance sheet. This move is expected to bolster NIO’s position in the smart electric vehicle industry and support its growth initiatives.

NIO Inc. Reinforces Regulatory Compliance with SEC Filing

NIO Inc., a prominent player in the electric vehicle industry, is headquartered in Shanghai, China. The company is known for its innovative approach to electric mobility, focusing on designing and manufacturing premium smart electric vehicles. NIO’s market focus includes both domestic and international markets, aiming to redefine the user experience in the automotive sector. The recent announcement from NIO Inc. highlights the company’s ongoing regulatory compliance and transparency with the U.S. Securities and Exchange Commission. This filing underscores NIO’s commitment to maintaining its presence in the U.S. financial markets, which may reassure investors and stakeholders about its operational stability and adherence to international standards.

NIO Inc. Announces Major Equity Offering to Boost Technological Advancements

NIO Inc. announced a proposed equity offering of up to 181,818,190 Class A ordinary shares, including American depositary shares. The proceeds from this offering are intended to be used for research and development of core technologies, expansion of battery swapping and charging networks, and general corporate purposes. This move aims to strengthen NIO’s market position and enhance its technological capabilities, potentially impacting its operations and stakeholder interests.

NIO Inc. Achieves Record-High Vehicle Deliveries in August 2025

NIO Inc. announced a record-high monthly delivery of 31,305 vehicles in August 2025, marking a 55.2% increase year-over-year. The company’s cumulative deliveries reached 838,036 vehicles as of August 31, 2025. This achievement reflects NIO’s strong market positioning and growth in the smart electric vehicle sector, with significant contributions from its NIO, ONVO, and FIREFLY brands.

The most recent analyst rating on (HK:9866) stock is a Hold with a HK$53.00 price target. To see the full list of analyst forecasts on NIO Inc. Class A stock, see the HK:9866 Stock Forecast page.

NIO Inc. Schedules Board Meeting to Announce Q2 2025 Financial Results

NIO Inc. has announced that its board of directors will hold a meeting on September 2, 2025, to approve and release the company’s unaudited financial results for the second quarter of 2025. The results will be published on the Hong Kong Stock Exchange website and the company’s investor relations site, followed by an earnings conference call hosted by the company’s management.

The most recent analyst rating on (HK:9866) stock is a Hold with a HK$39.00 price target. To see the full list of analyst forecasts on NIO Inc. Class A stock, see the HK:9866 Stock Forecast page.

NIO Inc. Reports Strong July 2025 Deliveries and Launches New SUV

NIO Inc. announced its delivery results for July 2025, reporting a total of 21,017 vehicles delivered, contributing to a year-to-date total of 135,167 vehicles, marking a 25.2% increase year-over-year. The company also launched its ONVO L90, a large-space flagship SUV designed to meet the evolving needs of large three-row SUV users, enhancing its product lineup and potentially strengthening its market position.

The most recent analyst rating on (HK:9866) stock is a Buy with a HK$68.10 price target. To see the full list of analyst forecasts on NIO Inc. Class A stock, see the HK:9866 Stock Forecast page.