NIO Inc. Class A (9866) AI Stock Analysis

• Market Cap: HK$80.25B
• Dividend Yield: N/A
• Average Volume (3M): 9.45M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.37
• Revenue Growth: 22.93%
• EPS Growth: 4.35%
• Country: HK
• Employees: 45,635
• Sector: Consumer Cyclical
• Sector Strength: 68
• Industry: Auto - Manufacturers
• EPS (TTM): -3.28
• Shares Outstanding: 1,946,478,900
• 10 Day Avg. Volume: 6,491,157
• 30 Day Avg. Volume: 9,451,376
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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$34.50
• Price Target Upside: -16.22% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 53 Neutral
• Price Target: HK$39.00 ▼(-5.29% Downside)

NIO Inc.'s overall stock score is driven by strong technical indicators, suggesting a bullish trend, despite financial performance challenges. The company's valuation is weak due to ongoing losses, and the earnings call presents a mixed sentiment with both positive growth prospects and significant operational challenges.

Positive Factors

Market Position

NIO is a pioneer and leading Chinese company in the premium smart electric vehicle market.

Product Development

Major product cycle refresh with seven new models in FY25 to lift sales.

Technology Innovation

NIO has advanced battery swapping technology, and it is the first in industry to roll out battery as a service (BaaS) package for its customers.

Negative Factors

Financial Performance

Net losses widened, with SG&A expenses increasing >40% y/y to clear old inventory.

Guidance

Weaker than expected 1Q25 guidance/4Q24 results could weigh on share price performance in the near-term.

Market Competition

New model sales could be slower than expected due to intense market competition from the company’s affordable brands.

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 Inc. primarily generates revenue through the sale of electric vehicles, including various models of SUVs and sedans. Additionally, the company offers value-added services such as battery swapping, power solutions, and an expanding network of charging stations, which further contribute to its revenue streams. NIO also provides a subscription-based Battery-as-a-Service (BaaS) model, allowing users to lease batteries separately from vehicle ownership, thus enhancing affordability and customer flexibility. Significant partnerships with technology and automotive companies help NIO enhance its product offerings and expand its market presence, further driving sales and revenue.

NIO Inc. Class A Financial Statement Overview

Summary

NIO Inc. shows strong revenue growth but struggles with profitability and cash flow management. Persistent negative net income, declining gross profit margins, high debt levels, and negative cash flows highlight operational inefficiencies and financial risks.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	65.73B	55.62B	49.27B	36.14B	16.26B
Gross Profit	6.49B	3.05B	5.14B	6.82B	1.87B
EBITDA	-18.50B	-15.15B	-10.05B	-985.36M	-3.33B
Net Income	-22.66B	-21.15B	-14.56B	-10.57B	-5.30B
Balance Sheet
Total Assets	107.60B	117.38B	96.26B	82.88B	54.64B
Cash, Cash Equivalents and Short-Term Investments	33.47B	49.75B	39.06B	52.39B	39.51B
Total Debt	33.77B	50.38B	23.71B	20.10B	9.43B
Total Liabilities	94.10B	91.65B	68.62B	44.82B	27.47B
Stockholders Equity	5.97B	25.55B	23.87B	34.71B	27.17B
Cash Flow
Free Cash Flow	-16.99B	-15.72B	-10.84B	-2.11B	823.21M
Operating Cash Flow	-7.85B	-1.38B	-3.87B	1.97B	1.95B
Investing Cash Flow	-4.96B	-10.89B	10.39B	-39.76B	-5.07B
Financing Cash Flow	1.77B	27.66B	-1.62B	18.13B	41.36B

NIO Inc. Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 41.18
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 41.18 is above the 20-day moving average (MA) of 37.79, above the 50-day MA of 33.00, and above the 200-day MA of 33.39, indicating a bullish trend. The MACD of 2.10 indicates Negative momentum. The RSI at 75.63 is Negative, neither overbought nor oversold. The STOCH value of 94.18 is Negative, 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
Sector *	57 Neutral	HK$25.94B	4.53	-4.73%	5.53%	-0.79%	-51.25%
9866	53 Neutral	HK$80.25B	―	-239.29%	―	22.93%	4.35%
GELYF	―	$26.40B	12.36	17.07%	1.64%	―	―
GNZUF	―	$9.07B	31.53	-0.98%	1.60%	―	―
GWLLF	―	$26.37B	11.20	15.09%	2.97%	―	―
L87	―	€20.61B	21.16	12.25%	―	―	―
9868	54 Neutral	HK$146.72B	―	-13.27%	―	65.91%	48.38%

NIO Inc. Class A Corporate Events

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.

NIO Inc. Successfully Passes Resolution at 2025 Annual General Meeting

NIO Inc. announced that the proposed resolution from their annual general meeting notice dated May 23, 2025, was successfully passed during the meeting on June 25, 2025. This development reflects the company’s ongoing governance processes and may influence its strategic direction and stakeholder engagement.

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.

NIO Inc. Schedules AGM to Discuss Auditor Reappointment

NIO Inc. has announced its upcoming Annual General Meeting (AGM) scheduled for June 25, 2025, in Shanghai, China. The primary agenda is to re-appoint PricewaterhouseCoopers Zhong Tian LLP as the company’s auditor for the upcoming year. This meeting is significant for stakeholders as it involves voting on key resolutions that could impact the company’s governance and financial oversight.

The most recent analyst rating on (HK:9866) stock is a Buy with a HK$62.50 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. to Announce Q1 2025 Financial Results

NIO Inc. has announced a board meeting scheduled for June 3, 2025, to approve and publish its unaudited financial results for the first quarter of 2025. The company will also host an earnings conference call on the same day to discuss these results, which will be accessible via a live webcast on their investor relations website.

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.

NIO Inc. Sets Record Date for Annual General Meeting

NIO Inc. has announced the record date for its upcoming annual general meeting of shareholders, set for May 23, 2025. This meeting will allow holders of Class A and Class C ordinary shares to vote as a single class, with specific instructions provided for those holding shares through various depository services. The announcement underscores the company’s structured approach to shareholder engagement and governance, reflecting its commitment to maintaining transparency and inclusivity in its corporate operations.