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蔚来股价飙升，中国电动车企第四季度首次盈利 2026-03-11
Nio's shares soared after the Chinese electric carmaker posted a profit in the fourth quarter of last year for the first time, with the adjusted operating profit beating its expectations.Nio ended up 14.1 percent at HKD43.50 (USD5.56) in Hong Kong on March 11, after reaching HKD45.66 at one point, the highest level since Nov. 26. Its New York-listed stock surged 15.4 percent to USD5.70 on March 10, bringing its market capitalization to about USD14.4 billion.
Net profit was CNY282.7 million (USD40.4 million) in the three months ending Dec. 31, versus a net loss of CNY7.1 billion (USD 1billion) a year earlier, the Shanghai-based firm said in a financial report released on March 10. Revenue surged 76 percent to CNY34.7 billion (USD5 billion).
Nio's adjusted operating profit was CNY1.3 billion (USD178.9 million). The company had predicted the figure to come in at between USD100 million and USD172 million in an earnings forecast last month.
"In the fourth quarter of 2025, the company delivered 124,807 smart electric vehicles, representing a year-over-year increase of 71.7 percent, with quarterly deliveries of our Nio, Onvo, and Firefly brands each reaching record highs," said Chairman and Chief Executive William Li.
"For the full year of 2025, total deliveries across the three brands reached 326,028 units, up 46.9 percent year over year, reflecting our accelerating growth trajectory," Li pointed out.
Nio's deliveries will likely nearly double to between 80,000 and 83,000 units this quarter from a year ago, Li added. In addition, the company expects revenue to jump 103 percent to 109 percent to between CNY24.5 billion and CNY25.2 billion.
The Chinese passenger car market will likely slightly decline this year, but pure EVs will still maintain a rapid growth thanks to advancements in infrastructure and technology, Li said at an earnings conference call. Nio is very confident its annual sales will jump 40 percent to 50 percent, he added.
In addition, Nio announced a share incentive plan for Li, which will grant him up to 248 million restricted shares, with the stock valued at about USD1.4 billion based on the latest price. To fully receive the stimulus, he needs to help the firm see its market cap exceed USD120 billion and annual net profit top USD6 billion.
Source: Yicai Global
