Based on preliminary unaudited management accounts, NIO expects to record an adjusted operating profit (non-GAAP) in the range of RMB700 million to RMB1,200 million (US$100 million to US$172 million) for Q4 2025. This marks a significant turnaround from an adjusted non-GAAP operating loss of RMB5,543.6 million in Q4 2024. The adjusted profit excludes share-based compensation and reflects the company’s first-ever quarterly non-GAAP operating profit since its 2014 founding. Under GAAP measures, NIO anticipates Q4 operating profit between RMB200 million and RMB700 million (US$29 million to US$100 million). Final audited results are expected when the company reports full Q4 and FY2025 results in mid-March.

NIO attributes the swing to profitability to three core factors: sustained growth in vehicle deliveries, an optimized product mix that improved average vehicle margins, and comprehensive cost reduction measures. In Q4 2025, the company reported delivery volume growth of 40.8% year-on-year, contributing to enhanced leverage of fixed costs. Ongoing efficiency initiatives across manufacturing, R&D and supply chain have yielded material savings, while gross margin expanded to 11.25%, up from mid-single digits a year earlier.

In January 2026, NIO delivered 27,182 vehicles, representing a 96% increase versus the prior year and pushing cumulative deliveries past the one-million mark. Alongside China, the company is testing distributor-led sales channels in selected European and Asia-Pacific markets, aiming to diversify revenue streams outside its home market. Management plans continued investment in next-generation battery swapping, intelligent driving software and platform R&D, while monitoring competitive dynamics and subsidy adjustments in China.