NIO Achieves First-Ever Quarterly Profit in Q4 2025

[Financial Milestone] NIO achieved its first-ever single-quarter profit in Q4 2025, with adjusted operating profit expected to reach RMB 700 million to RMB 1.2 billion.

Core Drivers: Premium Models and Cost Reduction Fuel Profitability

The all-new ES8 exceeded monthly deliveries of 22,000 units, with a gross margin above 20%, becoming the primary profit contributor; new models like the Onvo L90 optimized the product portfolio and enhanced overall gross margins.

Strategic Foundation: In-House Chip Development and Operational Efficiency Gains

The self-developed 5nm chip—Shenji NX9031—reduced per-vehicle costs by over RMB 10,000, while platform-based design cut supply chain expenses; R&D and sales expense ratios declined year-over-year, and the absence of new vehicle launches in Q4 further controlled costs.

Industry Impact: Narrowing Losses Validate the Premium BEV Strategy

Compared to a loss of RMB 5.544 billion in Q4 2024 and RMB 2.776 billion in Q3 2025, NIO has confirmed its profitability inflection point. In 2026, it plans to launch three new models—including the ES9 and L80—with a target monthly sales volume of 50,000 units.