NIO Achieves First-Ever Quarterly Profit in Q4 2025 Amid Record Deliveries and Strategic Shift

[Financial Milestone] NIO reported its first-ever quarterly profit in Q4 2025, with an operating profit of RMB 1.251 billion.

Core Development: 124,800 Deliveries and Optimized Product Mix Drive Profitability

In the fourth quarter of 2025, NIO delivered 124,800 vehicles, a year-over-year increase of 71.7%, setting a new record high. The premium model ES8 accounted for 32% of quarterly deliveries (previously only 2%–5%), significantly boosting gross margins. Revenue for the period reached RMB 34.65 billion, up 59.0% quarter-over-quarter.

Key Metrics: Cash Reserves at RMB 45.9 Billion, Market Cap Rebounds Above HK$100 Billion

According to the financial report, NIO’s cash reserves surged by nearly RMB 10 billion quarter-over-quarter to RMB 45.9 billion. The following day, its Hong Kong-listed shares rose more than 16%, pushing market capitalization back above HK$100 billion, reflecting strong investor confidence.

Strategic Shift: Transitioning from Scale Expansion to Structural Profitability

Profitability stems from higher sales volume, an increased share of high-margin models, and stringent cost controls—marking NIO’s entry into a virtuous cycle balancing scale and profitability.