NIO Reports Profitability for Two Consecutive Quarters

[Financial Performance] NIO achieved an operating profit of RMB 66.8 million in Q1 2026, marking its second consecutive quarter of profitability.

Core Developments: Multi-Brand Strategy Drives Dual Growth in Deliveries and Revenue

New vehicle deliveries reached 83,465 units, up 98.3% year-over-year, with the core brand contributing 58,543 units, while ONVO and Firefly delivered 13,339 units and 11,583 units, respectively. Total revenue amounted to RMB 25.53 billion, a 112.2% year-over-year increase, exceeding the high end of guidance.

Key Metrics: Gross Margin and Cash Flow Show Significant Improvement

Vehicle gross margin reached 18.8%, with an overall gross margin of 19.0%; total gross profit was RMB 4.86 billion, surging 428.4% year-over-year. As of the end of Q1, cash reserves rose to RMB 48.2 billion, and the company recorded positive operating cash flow for the third consecutive quarter.

Industry Impact: Standing Out Amid Market Downturn Boosts Investor Confidence

Amid a year-over-year decline in new energy vehicle production and sales and an industry-wide average price reduction of 13.7%, NIO emerged as one of the few automakers to achieve profitability, driving its pre-market share price up by more than 6% on the U.S. stock exchange.