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First adjusted operating profit for NIO (NYSE: NIO) in Q4 2025

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

NIO Inc. issues a profit alert for the fourth quarter of 2025, saying it expects adjusted profit from operations (non-GAAP) of RMB700 million to RMB1,200 million, marking its first-ever quarterly adjusted operating profit.

The company previously reported an adjusted loss from operations (non-GAAP) of RMB5,543.6 million in the fourth quarter of 2024, so this guidance signals a major turnaround. Management attributes the expected improvement to stronger vehicle sales, better vehicle margins from a favorable product mix, and ongoing cost reduction and efficiency efforts.

On a GAAP basis, NIO expects profit from operations of about RMB200 million to RMB700 million for the quarter. These figures are based on preliminary, unaudited management accounts and may change once full Q4 and full-year 2025 results are finalized.

Positive

  • First quarterly adjusted operating profit: NIO expects adjusted profit from operations (non-GAAP) of RMB700–1,200 million in Q4 2025, versus an adjusted operating loss of RMB5,543.6 million in Q4 2024, indicating a significant improvement in operating performance.
  • Return to GAAP operating profitability: The company anticipates GAAP profit from operations between RMB200 million and RMB700 million for Q4 2025, showing profitability even without non-GAAP adjustments.
  • Operational drivers appear broad-based: Management attributes the improvement to sustained sales growth, improved vehicle margins from a favorable product mix, and comprehensive cost-reduction and efficiency initiatives, suggesting multiple levers behind the turnaround.

Negative

  • None.

Insights

NIO flags its first quarterly operating profit, driven by higher sales, better mix, and cost cuts.

NIO Inc. indicates a sharp operational turnaround for Q4 2025. It expects adjusted profit from operations (non-GAAP) of RMB700 million to RMB1,200 million, compared with an adjusted operating loss of RMB5,543.6 million in Q4 2024. This is the first time it forecasts a quarterly adjusted operating profit.

Management links the improvement to sustained sales growth, optimized vehicle margins from a favorable product mix, and comprehensive cost-reduction and efficiency measures. On a GAAP basis, NIO also expects profit from operations of RMB200 million to RMB700 million for Q4 2025, showing that profitability is not solely a non-GAAP construct.

The ranges are based on unaudited internal accounts and may change once the Q4 and full-year 2025 results are finalized. Subsequent filings with the finalized figures will show whether margins and cost efficiencies are sustainable beyond the fourth quarter of 2025.

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of February 2026

 

Commission File Number: 001-38638

 

 

 

NIO Inc.

(Registrant’s Name)

 

 

 

Building 19, No. 1355, Caobao Road, Minhang District
Shanghai, People’s Republic of China

(Address of Principal Executive Offices)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F x         Form 40-F ¨

 

 

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
     
99.1   Press Release — NIO Inc. Announces Profit Alert for the Fourth Quarter of 2025
99.2   Announcement with The Stock Exchange of Hong Kong Limited — Profit Alert in Relation to Fourth Quarter 2025

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  NIO Inc.
       
  By : /s/ Yu Qu
  Name : Yu Qu
  Title : Chief Financial Officer

 

Date: February 5, 2026

 

 

 

Exhibit 99.1

 

NIO Inc. Announces Profit Alert for the Fourth Quarter of 2025

 

Shanghai, February 5, 2026 -- (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the global smart electric vehicle market, today announced a profit alert for the fourth quarter of 2025.

 

The board of directors of the Company (the “Board”) wishes to inform shareholders and potential investors that, based on a preliminary assessment of the Company’s unaudited consolidated management accounts and the information currently available to the Board, the Company is expected to achieve an adjusted profit from operations (non-GAAP) in the range of approximately RMB700 million (approximately US$100 million)i to RMB1,200 million (approximately US$172 million) for the fourth quarter of 2025, which is defined as profit from operations excluding share-based compensation expenses, representing the first time the Company has recorded an adjusted profit from operations (non-GAAP) on a quarterly basis. In comparison, the Company recorded an adjusted loss from operations (non-GAAP) of RMB5,543.6 million in the fourth quarter of 2024.

 

The expected adjusted profit from operations (non-GAAP) for the fourth quarter of 2025 was primarily attributable to (i) the Company’s sustained growth in sales volume in the fourth quarter of 2025; (ii) the optimization of vehicle margin driven by a favorable product mix; and (iii) the Company’s ongoing comprehensive cost reduction efforts and continued improvement in operational efficiency.

 

In addition, under the GAAP measures, the Company is expected to record a profit from operations of approximately RMB200 million (approximately US$29 million) to RMB700 million (approximately US$100 million) for the fourth quarter of 2025.

 

As of the date of this press release, the Company is in the process of preparing and finalizing the financial results for the three months and full year ended December 31, 2025 (the “Q4 and FY2025 Results”). The information contained in this press release is only based on a preliminary review of the unaudited consolidated management accounts and the information currently available to the Board, and is not based on any figures or information which have been audited or reviewed by the Company’s independent auditor or the audit committee of the Board. The above data may therefore differ from the figures to be disclosed in the audited or unaudited consolidated financial statements in respect of the Q4 and FY2025 Results. Accordingly, the above figures are strictly for information only and not for any other purposes.

 

Shareholders and potential investors are advised not to place undue reliance on the information disclosed herein and to exercise caution when dealing in the securities of the Company. Any shareholder or potential investor who is in doubt is advised to seek advice from professional advisors.

 

Non-GAAP Disclosure

 

The Company uses non-GAAP measures, such as adjusted profit (loss) from operations (non-GAAP), in evaluating its operating results and for financial and operational decision-making purposes. The Company defines adjusted profit (loss) from operations (non-GAAP) as profit (loss) from operations excluding share-based compensation expenses. By excluding the impact of share-based compensation expenses, which is non-cash in nature, the Company believes that adjusted profit (loss) from operations (non-GAAP) helps identify underlying trends in its business and enhances the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measure allows for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

 

 

 

 

The non-GAAP financial measure is not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measure has limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider it in isolation, or as a substitute for, profit from operations prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

 

The Company mitigates these limitations by reconciling the non-GAAP financial measure to the most comparable U.S. GAAP performance measure, which should be considered when evaluating the Company’s performance.

 

About NIO Inc.

 

NIO Inc. is a pioneer and a leading company in the global smart electric vehicle market. Founded in November 2014, NIO aspires to shape a sustainable and brighter future with the mission of “Blue Sky Coming”. NIO envisions itself as a user enterprise where innovative technology meets experience excellence. NIO designs, develops, manufactures and sells smart electric vehicles, driving innovations in next-generation core technologies. NIO distinguishes itself through continuous technological breakthroughs and innovations, exceptional products and services, and a community for shared growth. NIO provides premium smart electric vehicles under the NIO brand, family-oriented smart electric vehicles through the ONVO brand, and small smart high-end electric cars with the FIREFLY brand.

 

Safe Harbor Statement

 

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements, circulars or other publications made on the websites of each of The Stock Exchange of Hong Kong Limited (the “SEHK”) and the Singapore Exchange Securities Trading Limited (the “SGX-ST”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture vehicles of sufficient quality and appeal to customers on schedule and on a large scale; its ability to ensure and expand manufacturing capacities including establishing and maintaining partnerships with third parties; its ability to provide convenient and comprehensive power solutions to its customers; the viability, growth potential and prospects of the battery swapping, BaaS, and NIO Assisted and Intelligent Driving and its subscription services; its ability to improve the technologies or develop alternative technologies in meeting evolving market demand and industry development; NIO’s ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of its vehicles; its ability to control costs associated with its operations; its ability to build its current and future brands; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the SEC and the announcements and filings on the websites of each of the SEHK and SGX-ST. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

2

 

 

For more information, please visit: http://ir.nio.com

 

Investor Relations
ir@nio.com

 

Media Relations
global.press@nio.com

 

i All translations from RMB to USD for the three months ended December 31, 2025 were made at the rate of RMB6.9931 to US$1.00, the noon buying rate in effect on December 31, 2025 in the H.10 statistical release of the Federal Reserve Board.

 

3

FAQ

What profit does NIO (NIO) expect for Q4 2025?

NIO expects an adjusted profit from operations (non-GAAP) of RMB700 million to RMB1,200 million for Q4 2025. This measure excludes share-based compensation and reflects management’s preliminary view based on unaudited internal accounts for the quarter ended December 31, 2025.

How does NIO’s expected Q4 2025 result compare with Q4 2024?

For Q4 2024, NIO recorded an adjusted loss from operations (non-GAAP) of RMB5,543.6 million. For Q4 2025, it now expects an adjusted operating profit of RMB700 million to RMB1,200 million, signaling a substantial year-on-year improvement in operating performance and profitability.

What GAAP operating profit range does NIO guide for Q4 2025?

Under GAAP, NIO expects profit from operations of approximately RMB200 million to RMB700 million for Q4 2025. This indicates the company anticipates being profitable on a GAAP operating basis, not just on a non-GAAP adjusted measure that excludes share-based compensation expenses.

What factors are driving NIO’s expected profit in Q4 2025?

NIO attributes its expected Q4 2025 profit mainly to sustained growth in sales volume, improved vehicle margins from a favorable product mix, and comprehensive cost-reduction efforts. The company also cites continued improvement in operational efficiency as a key contributor to the anticipated profitability.

Is NIO’s Q4 2025 profit guidance based on audited financials?

No. NIO’s Q4 2025 profit guidance is based on preliminary unaudited consolidated management accounts and information currently available to the board. The company notes that final audited or unaudited financial statements for Q4 and full-year 2025 may differ from the figures in this profit alert.

How does NIO define adjusted profit from operations (non-GAAP)?

NIO defines adjusted profit (loss) from operations (non-GAAP) as profit (loss) from operations excluding share-based compensation expenses. Management believes this non-GAAP measure, which removes a non-cash item, helps highlight underlying business trends but emphasizes it should be considered alongside GAAP profit from operations.

Why does NIO caution investors regarding this Q4 2025 profit alert?

NIO cautions that the profit alert is based on preliminary unaudited data and may change when full Q4 and 2025 results are finalized. It advises shareholders and potential investors not to place undue reliance on these figures and to exercise caution when dealing in the company’s securities.
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