NIO projects Q4 2025 adjusted operating profit (non-GAAP) of RMB 700 million to 1.2 billion (approximately USD 100 million to 172 million). On February 6th, NIO’s Hong Kong stock opened with a surge of over 5%, following a 5.86% rise in its U.S. stock at the previous close. The catalyst for the enthusiastic response from the capital market was the significant news released by NIO on the evening of February 5th: the company achieved its first-ever quarterly profit in the fourth quarter of 2025, marking a historic turning point in its 11-year history. According to NIO’s profit forecast, the adjusted operating profit (non-GAAP) for Q4 2025 is expected to reach 700 million to 1.2 billion RMB (approximately 100 million to 172 million USD). Even measured by the stricter GAAP standards, the operating profit for that quarter is also projected to be between 200 million and 700 million RMB. This achievement stands in sharp contrast to the adjusted operating loss of 5.54 billion RMB in Q4 2024, representing a turnaround of over 6 billion RMB within a year. NIO emphasized in its announcement that three core drivers are behind this quarter’s profitability: Sustained sales growth in the fourth quarter; A favorable product mix leading to optimized vehicle margins; The company’s ongoing comprehensive cost-reduction measures and effective improvements in operational efficiency. NIO Releases Q4 2025 Earnings Guidance Looking at the sales figures behind these impressive financial results: Official data shows that for the full year 2025, NIO cumulatively delivered approximately 326,000 new vehicles, a year-on-year increase of 46.9%, reaching a record high. Specifically, fourth-quarter deliveries amounted to 124,800 vehicles, a 71.7% increase year-on-year, contributing over 38% to the annual total. By brand, the main NIO brand delivered 178,800 vehicles, the ONVO brand delivered 107,800 vehicles, and the third brand, Firefly, delivered 39,400 vehicles. It is worth noting that the single-month delivery figure for December 2025 reached 48,100 vehicles, a 54.6% increase year-on-year. This included 31,900 vehicles from the NIO brand, 9,154 from ONVO, and 7,084 from Firefly, with all three brands setting new historical records. Looking ahead to NIO’s performance targets for 2026, CEO William Li stated during the Q3 2025 earnings call that NIO aims to achieve full-year profitability in 2026. To this end, NIO has formulated an intensive product and infrastructure plan for this year. Regarding products, three new large SUVs—the ES9, ES7 (for the NIO brand), and the ONVO L80—are scheduled for launch in the second and third quarters of 2026. In terms of infrastructure, NIO plans to build at least 1,000 new battery swap stations throughout the year, bringing the total number to over 4,000 by year-end. Concurrently, the company will establish multi-brand integrated “SKY” stores in 210 cities to promote the penetration of its three brands. For global expansion, the plan for 2026 is to enter 40 countries.