NIO Releases 2025 Financial Report: Fourth Quarter Achieves First Quarterly Profit, Full Year Revenue Reaches Historic High

IT Home, March 10th: Today, NIO released its Q4 2025 and full-year financial reports. In Q4, NIO achieved an operating profit of 1.25 billion yuan, marking the company’s first quarterly profit. Cash reserves in Q4 totaled 45.9 billion yuan, a significant increase of nearly 10 billion yuan compared to the previous quarter.

IT Home notes that NIO disclosed in its financial report that the delivery guidance for Q1 2026 is 80,000 to 83,000 units, a year-over-year increase of 90.1% to 97.2%; revenue guidance is 24.48 billion to 25.18 billion yuan, a year-over-year increase of 103.4% to 109.2%.

NIO delivered 124,807 vehicles in Q4, a year-over-year increase of 71.7% and a quarter-over-quarter increase of 43.3%, setting a new record. Revenue in Q4 reached 34.65 billion yuan, up 75.9% year-over-year and 59.0% quarter-over-quarter, also a record high. Total gross profit for Q4 was 6.07 billion yuan, up 163.1% year-over-year and 100.8% quarter-over-quarter, hitting a new high. The comprehensive gross profit margin in Q4 was 17.5%, an increase of 5.8 percentage points year-over-year and 3.6 percentage points quarter-over-quarter, the highest since 2022. The vehicle gross profit margin in Q4 was 18.1%, up 5.0 percentage points year-over-year and 3.4 percentage points quarter-over-quarter, reaching a three-year high, with significant improvement in vehicle business profitability. Other sales gross margin was 11.9%, an increase of 10.8 percentage points year-over-year and 4.1 percentage points quarter-over-quarter, with other sales businesses remaining profitable for three consecutive quarters, and service and community business contributions steadily growing.

NIO delivered a total of 326,028 new vehicles in 2025, a year-over-year increase of 46.9%, setting a new record. Full-year revenue reached 87.49 billion yuan, up 33.1% year-over-year, also a record high. Total gross profit for the year was 11.92 billion yuan, an increase of 83.5% year-over-year, reaching a new high. The full-year comprehensive gross profit margin was 13.6%, up 3.7 percentage points year-over-year, the highest since 2022. The vehicle gross profit margin for the full year was 14.6%, up 2.3 percentage points year-over-year, also a new high since 2022.

NIO founder, Chairman, and CEO William Li stated that the quarterly profit fully confirms NIO’s core competitiveness in its technological route, products, and business model, as well as the continuous improvement of NIO’s systematic capabilities and operational efficiency, laying a solid foundation for the company’s long-term sustainable development. The company has officially entered its third stage of development, beginning a new cycle of rapid growth.