Electric Vehicle Maker Reports 112% Q1 Revenue Surge, Raises Q2 Guidance
The electric vehicle maker posted RMB25.53 billion in first-quarter revenue, up 112.2% year-on-year, with adjusted EPS of RMB0.02 versus analysts’ forecast of a RMB0.34 loss and gross margin rising to 19.0%. It guided second-quarter revenue of RMB32.78–34.44 billion and deliveries of 110,000–115,000 units, implying 53–60% annual growth.
1. First-Quarter Financial Results
The company generated RMB25.53 billion in revenue for the quarter, marking a 112.2% increase year-on-year. Adjusted earnings per share reached RMB0.02, reversing prior losses, while gross margin expanded to 19.0% driven by improved efficiency and a richer product mix.
2. Vehicle Deliveries and Product Mix
Deliveries totaled 83,465 smart electric vehicles, up 98.3% from the prior year but down 33.1% sequentially. The flagship NIO brand accounted for 58,543 units, ONVO delivered 13,339 vehicles, and the new Firefly model contributed 11,583 units.
3. Second-Quarter Guidance
For the second quarter, the company forecasts revenue between RMB32.78 billion and RMB34.44 billion, exceeding analyst expectations of RMB31.83 billion. It also projects 110,000–115,000 vehicle deliveries, implying 53–60% year-on-year growth and reflecting its intensive new product launch cycle.