NIO-SW (09866) has released its financial results for the second quarter of 2026, reporting total revenues of RMB 32.137 billion, marking a robust 69.1% year-on-year increase and a 25.9% sequential rise. Vehicle deliveries reached 107,658 units during the quarter, up 49.4% compared to the same period last year and 29.0% higher than the previous quarter.

Automotive sales generated RMB 29.058 billion, growing 80.1% year-on-year and 27.5% quarter-on-quarter. The company's gross profit surged 211.3% year-on-year to RMB 5.906 billion, while its adjusted net profit turned positive at RMB 26.1 million, achieving a turnaround from a loss in the prior-year period.

The increase in automotive sales compared to the second quarter of 2025 was primarily driven by higher delivery volumes and an improved average selling price resulting from a shift in product mix. Sequentially, the growth was predominantly attributed to increased deliveries against the first quarter of 2026. For the first half of 2026, NIO reported total revenues of approximately RMB 57.67 billion, up 85.77% year-on-year, with gross profit of roughly RMB 10.77 billion, representing a 282.16% surge. The net loss attributable to ordinary shareholders of NIO Group narrowed by 89.88% to about RMB 1.22 billion.

During the second quarter, the company delivered 107,658 smart electric vehicles, a 49.4% increase year-on-year, with all three brands—NIO Inc., Onvo, and Firefly—achieving simultaneous growth in both volume and average selling price. Looking ahead, the company anticipates third-quarter deliveries to range between 108,000 and 111,000 vehicles, translating to a growth of 24.0% to 27.5% year-on-year, as stated by William Li, Founder, Chairman, and Chief Executive Officer of NIO.

In the second quarter, the NIO brand secured the top position in China's passenger vehicle market for models priced above RMB 350,000. The NIO ES8 has demonstrated sustained strong market performance, reaching its 140,000th delivery just 335 days after launch, maintaining leadership in both the RMB 400,000-level passenger car segment and the large SUV category. The ES9, a tech-focused executive flagship SUV, continues to convert users from traditional premium fuel SUVs, ranking first in sales in China's RMB 500,000+ passenger vehicle market during June and July. Meanwhile, the Onvo L90 and L80, backed by distinct product advantages, have propelled the Onvo brand to the number one position in the large SUV segment priced between RMB 200,000 and 300,000. Concurrently, Firefly has maintained its market share leadership in China's premium compact car segment for 15 consecutive months, solidifying its dominant position in this niche market.

Operational quality continued to improve in the second quarter of 2026, according to Stanley Qu, Chief Financial Officer of NIO. Supported by strong sales of high-margin models and ongoing cost structure optimization, the company sustained healthy overall and vehicle gross margins despite facing cost pressures. Service and community-related businesses continued to contribute to profitability. The company maintained Non-GAAP operating profit for the quarter and further strengthened its cash reserves, providing a stronger financial foundation for long-term sustainable development. With solid systematic capabilities and clear operational strategies, management expressed confidence in achieving full-year operational targets and high-quality growth.

For the third quarter of 2026, the company expects total revenues to be in the range of RMB 33.285 billion (USD 4.906 billion) to RMB 34.051 billion (USD 5.019 billion), representing a growth of approximately 52.7% to 56.2% compared to the same quarter of 2025.