NIO reports narrowed net loss for last year

Chinese electric vehicle maker NIO (9866) reported its net loss narrowed about 21 percent to 15.57 billion yuan (HK$17.63 billion yuan) last year, driven by the fourth quarter's first-ever quarterly profit, according to a filing published Tuesday.

Its total revenues increased 33.1 percent to 87.49 billion yuan last year while vehicle sales increased 32 percent to 76.88 billion yuan.

For the full year 2025, combined deliveries across the company's three brands including Nio, Onvo and Firefly, increased 46.9 percent to 326,028 units.

Besides, in the fourth quarter, it swung to a net profit of 122 million.

Its total revenue jumped 75.9 percent to 34.6 billion yuan. Of this, vehicle sales reached 31.6 billion yuan, an increase of 80.86 percent.

The company delivered 124,807 smart electric vehicles in the quarter, a 71.7 percent year-over-year increase, with quarterly deliveries for all three brands hitting record highs.

NIO expects vehicle deliveries of between 80,000 and 83,000 units in the first quarter of 2026, an increase of around 90.1 percent to 97.2 percent from the same quarter of 2025.

It forecasts total revenue between 24.5 billion yuan and  25.18 billion yuan, representing growth of around 103.4 percent to 109.2 percent year over year.