{"success":true,"data":{"pressRelease":{"id":"132124","rtpr_id":"nGNX3Prpbk","ticker":"NIO","exchange":"NYSE","all_tickers":["NIO","9866"],"title":"NIO Inc. Reports Unaudited Second Quarter 2026 Financial Results","author":"Globe Newswire","published_at":"2026-09-01T10:00:01.081Z","article_body":"Quarterly Total Revenues Reached RMB32,136.9 Million (US$4,736.4 Million)(i)\nQuarterly Vehicle Deliveries Were 107,658 Units\n\nSHANGHAI, Sept. 01, 2026 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866;\nSGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in\nthe global smart electric vehicle market, today announced its unaudited\nfinancial results for the second quarter ended June 30, 2026.\n\nOperating Highlights for the Second Quarter of 2026\n* Vehicle deliveries were 107,658 in the second quarter of 2026, representing\nan increase of 49.4% from the second quarter of 2025, and an increase of 29.0%\nfrom the first quarter of 2026. The deliveries consisted of 60,945 vehicles\nfrom NIO brand, 29,124 vehicles from ONVO brand, and 17,589 vehicles from\nFIREFLY brand.\n Key Operating Results                           \n                                                 \n             2026 Q2  2026 Q1  2025 Q4  2025 Q3  \n Deliveries  107,658  83,465   124,807  87,071   \n                                                 \n             2025 Q2  2025 Q1  2024 Q4  2024 Q3  \n Deliveries  72,056   42,094   72,689   61,855   \n                                                 \n\nFinancial Highlights for the Second Quarter of 2026\n* Vehicle sales were RMB29,058.2 million (US$4,282.7 million) in the second\nquarter of 2026, representing an increase of 80.1% from the second quarter of\n2025 and an increase of 27.5% from the first quarter of 2026.\n* Vehicle margin(ii) was 18.5% in the second quarter of 2026, compared with\n10.3% in the second quarter of 2025 and 18.8% in the first quarter of 2026.\n* Total revenues were RMB32,136.9 million (US$4,736.4 million) in the second\nquarter of 2026, representing an increase of 69.1% from the second quarter of\n2025 and an increase of 25.9% from the first quarter of 2026.\n* Gross profit was RMB5,906.5 million (US$870.5 million) in the second quarter\nof 2026, representing an increase of 211.3% from the second quarter of 2025\nand an increase of 21.6% from the first quarter of 2026.\n* Gross margin was 18.4% in the second quarter of 2026, compared with 10.0% in\nthe second quarter of 2025 and 19.0% in the first quarter of 2026.\n* Loss from operations was RMB347.2 million (US$51.2 million) in the second\nquarter of 2026, compared with loss from operations of RMB4,908.9 million in\nthe second quarter of 2025 and loss from operations of RMB308.8 million in the\nfirst quarter of 2026. Excluding share-based compensation expenses, adjusted\nprofit from operations (non-GAAP) was RMB206.9 million (US$30.5 million) in\nthe second quarter of 2026, compared with adjusted loss from operations\n(non-GAAP) of RMB4,040.8 million in the second quarter of 2025 and adjusted\nprofit from operations (non-GAAP) of RMB66.8 million in the first quarter of\n2026.\n* Net loss was RMB528.0 million (US$77.8 million) in the second quarter of\n2026, compared with net loss of RMB4,994.8 million in the second quarter of\n2025 and net loss of RMB332.1 million in the first quarter of 2026. Excluding\nshare-based compensation expenses, adjusted net profit (non-GAAP) was RMB26.1\nmillion (US$3.8 million) in the second quarter of 2026, compared with adjusted\nnet loss (non-GAAP) of RMB4,126.7 million in the second quarter of 2025 and\nadjusted net profit (non-GAAP) of RMB43.5 million in the first quarter of\n2026.\n* Cash and cash equivalents, restricted cash, short-term investment and\nlong-term time deposits were RMB56.7 billion (US$8.4 billion) as of June 30,\n2026.\n Key Financial Results for the Second Quarter of 2026                                                                                   \n (in RMB million, except for percentage)                                                                                                \n                                                       2026Q2          2026 Q1           2025 Q2            % Change (iii)              \n                                                                                                            QoQ           YoY           \n Vehicle Sales                                         29,058.2        22,783.7          16,136.1           27.5%         80.1%         \n Vehicle Margin                                        18.5%           18.8%             10.3%              -30bp         820bp         \n                                                                                                                                        \n Total Revenues                                        32,136.9        25,532.7          19,008.7           25.9%         69.1%         \n Gross Profit                                          5,906.5         4,859.1           1,897.5            21.6%         211.3%        \n Gross Margin                                          18.4%           19.0%             10.0%              -60bp         840bp         \n                                                                                                                                        \n Loss from Operations                                  (347.2)         (308.8)           (4,908.9)          12.4%         -92.9%        \n Adjusted Profit/(Loss) from Operations (non-GAAP)     206.9           66.8              (4,040.8)          209.7%        N/A           \n                                                                                                                                        \n Net Loss                                              (528.0)         (332.1)           (4,994.8)          59.0%         -89.4%        \n Adjusted Net Profit/(Loss) (non-GAAP)                 26.1            43.5              (4,126.7)          -40.0%        N/A           \n                                                                                                                                        \n\nRecent Developments\n\nDeliveries in July and August 2026\n* The Company delivered 35,934 vehicles and 35,836 vehicles in July and August\n2026, respectively. As of August 31, 2026, the Company had delivered 262,893\nvehicles in 2026, with cumulative deliveries reaching 1,260,485.\nDebut of NIO All-New ES8 Five-Seat Version\n* On July 9, 2026, the Company officially launched the NIO All-New ES8\nFive-Seat Version, with deliveries commencing the following day. Featuring\nexceptional spaciousness, elevated comfort, and advanced intelligent\ntechnologies, the ES8 Five-Seat Version sets a new benchmark for the premium\nbattery electric SUV segment. The enhanced lineup strengthens NIO's presence\nacross the premium large five-seat and premium three-row SUV segments, further\nreinforcing its leadership in the premium SUV market.\nFinancing of Shenji\n* In June and August 2026, GeniTech Co., Ltd. (“Shenji”), a subsidiary of\nthe Company, entered into definitive agreements across two funding rounds with\ncertain investors in China. Pursuant to these agreements, the investors agreed\nto subscribe for newly issued shares of Shenji for an aggregate cash\nconsideration of RMB493 million, implying a post-money valuation of RMB12.25\nbillion. Upon completion of the financing transactions, a subsidiary of NIO\nwill hold a controlling equity interest of 59.95% in Shenji.\nCEO and CFO Comments\n\n“In the second quarter of 2026, the Company delivered 107,658 smart electric\nvehicles, representing a 49.4% year-over-year increase. All three brands, NIO,\nONVO, and FIREFLY, achieved growth in both sales volume and average\ntransaction price. For the third quarter, we expect total deliveries to range\nbetween 108,000 and 111,000 vehicles, with a year-over-year growth of 24.0%\nto 27.5%,” said William Bin Li, founder, chairman, and chief executive\nofficer of NIO.\n\n“In the second quarter, the NIO brand ranked first in China’s passenger\nvehicle market priced above RMB 350,000. The ES8 has sustained strong market\nmomentum since its launch and reached its 140,000th delivery within 335 days,\nleading China’s RMB 400,000-level passenger vehicle segment and the large\nSUV segment. The ES9, our executive flagship SUV, continues to win over users\nfrom traditional fuel-powered luxury SUVs, ranking first in sales among\npassenger vehicles priced above RMB 500,000 in China in both June and July.\nWith the compelling product advantages of the ONVO L90 and L80, the ONVO brand\nhas become the sales leader in China’s RMB 200,000 to RMB 300,000 large SUV\nsegment. Meanwhile, the firefly has ranked first in market share in China’s\nhigh-end small-car market for 15 consecutive months, further strengthening its\nleadership in the segment,” added William Bin Li.\n\n“In the second quarter of 2026, the Company continued to improve its overall\noperating quality. Supported by strong sales of higher-margin models and\nongoing optimization of our cost structure, we maintained healthy gross and\nvehicle margins despite rising cost pressures. Services and community-related\nbusinesses continued to contribute to profitability. The Company maintained\npositive non-GAAP operating profit during the quarter, further increasing our\ncash reserves and strengthening our financial position to support long-term,\nsustainable development,” said Stanley Yu Qu, NIO’s chief financial\nofficer. “With our solid, comprehensive systematic capabilities and clear\nbusiness strategies, we are confident in achieving our full-year operating\nobjectives and delivering high-quality growth.”\n\nFinancial Results for the Second Quarter of 2026\n\nRevenues\n* Total revenues in the second quarter of 2026 were RMB32,136.9 million\n(US$4,736.4 million), representing an increase of 69.1% from the second\nquarter of 2025 and an increase of 25.9% from the first quarter of 2026.\n\n\n* Vehicle sales in the second quarter of 2026 were RMB29,058.2 million\n(US$4,282.7 million), representing an increase of 80.1% from the second\nquarter of 2025 and an increase of 27.5% from the first quarter of 2026. The\nincrease in vehicle sales over the second quarter of 2025 was mainly due to an\nincrease in delivery volume and a higher average selling price as a result of\nchanges in product mix. The increase in vehicle sales over the first quarter\nof 2026 was mainly attributable to an increase in delivery volume.\n\n\n* Other sales in the second quarter of 2026 were RMB3,078.6 million (US$453.7\nmillion), representing an increase of 7.2% from the second quarter of 2025 and\nan increase of 12.0% from the first quarter of 2026. The increase in other\nsales over the second quarter of 2025 was mainly due to an increase in sales\nof parts, accessories and after-sales vehicle services as a result of the\ncontinued growth in the number of users, and partially offset by a decrease in\nrevenues from sales of used cars and technical research and development\nservices. The increase in other sales over the first quarter of 2026 was\nmainly due to (i) an increase in revenues from sales of used cars and (ii) an\nincrease in sales of parts, accessories and after-sales vehicle services,\npartially offset by a decrease in revenues from provision of auto financing\nservices.\nCost of Sales and Gross Margin\n* Cost of sales in the second quarter of 2026 was RMB26,230.4 million\n(US$3,865.9 million), representing an increase of 53.3% from the second\nquarter of 2025 and an increase of 26.9% from the first quarter of 2026. The\nincrease in cost of sales over the second quarter of 2025 and the first\nquarter of 2026 was mainly attributable to an increase in delivery volume.\n\n\n* Gross profit in the second quarter of 2026 was RMB5,906.5 million (US$870.5\nmillion), representing an increase of 211.3% from the second quarter of 2025\nand an increase of 21.6% from the first quarter of 2026.\n\n\n* Gross margin in the second quarter of 2026 was 18.4%, compared with 10.0% in\nthe second quarter of 2025 and 19.0% in the first quarter of 2026. The\nincrease in gross margin over the second quarter of 2025 was mainly\nattributable to the increased vehicle margin. The slight decrease in gross\nmargin over the first quarter of 2026 was mainly attributable to gross margin\nfrom vehicle sales, provision of power solutions, and sales of parts,\naccessories and after-sales vehicle services.\n\n\n* Vehicle margin in the second quarter of 2026 was 18.5%, compared with 10.3%\nin the second quarter of 2025 and 18.8% in the first quarter of 2026. The\nincrease in vehicle margin from the second quarter of 2025 was mainly\nattributable to a more favorable product mix. The vehicle margin remained\nrelatively stable from the first quarter of 2026.\nOperating Expenses\n* Research and development expenses in the second quarter of 2026 were\nRMB2,144.9 million (US$316.1 million), representing a decrease of 28.7% from\nthe second quarter of 2025 and an increase of 13.8% from the first quarter of\n2026. Excluding share-based compensation expenses, adjusted research and\ndevelopment expenses (non-GAAP) were RMB1,983.2 million (US$292.3 million) in\nthe second quarter of 2026, representing a decrease of 20.3% from the second\nquarter of 2025 and an increase of 16.1% from the first quarter of 2026. The\ndecrease in research and development expenses over the second quarter of 2025\nwas mainly due to (i) decreased personnel costs in research and development\nfunctions primarily as a result of organizational optimization, and (ii)\ndecreased design and development costs mainly resulting from different stages\nof development and improved operational efficiency. The increase in research\nand development expenses over the first quarter of 2026 was mainly due to the\nincremental design and development costs for new products and technologies as\nwell as the increased personnel costs in research and development functions. \n\n\n* Selling, general and administrative expenses in the second quarter of 2026\nwere RMB4,424.5 million (US$652.1 million), representing an increase of 11.6%\nfrom the second quarter of 2025 and an increase of 26.5% from the first\nquarter of 2026. Excluding share-based compensation expenses, adjusted\nselling, general and administrative expenses (non-GAAP) were RMB4,039.6\nmillion (US$595.4 million) in the second quarter of 2026, representing an\nincrease of 9.7% from the second quarter of 2025 and an increase of 22.1% from\nthe first quarter of 2026. The increase in selling, general and administrative\nexpenses over the second quarter of 2025 was mainly attributable to an\nincrease in sales and marketing activities associated with new product\nlaunches. The increase in selling, general and administrative expenses over\nthe first quarter of 2026 was mainly attributable to (i) an increase in sales\nand marketing activities associated with new product launches, as well as an\nincrease in personnel and related costs for marketing functions, and (ii) an\nincrease in share-based compensation for general corporate functions.\nLoss from Operations\n* Loss from operations in the second quarter of 2026 was RMB347.2 million\n(US$51.2 million), compared with loss from operations of RMB4,908.9 million in\nthe second quarter of 2025 and loss from operations of RMB308.8 million in the\nfirst quarter of 2026. Excluding share-based compensation expenses, adjusted\nprofit from operations (non-GAAP) was RMB206.9 million (US$30.5 million) in\nthe second quarter of 2026, compared with adjusted loss from operations\n(non-GAAP) of RMB4,040.8 million in the second quarter of 2025 and adjusted\nprofit from operations (non-GAAP) of RMB66.8 million in the first quarter of\n2026.\nNet Loss and Earnings Per Ordinary Share/ADS\n* Net loss in the second quarter of 2026 was RMB528.0 million (US$77.8\nmillion), compared with net loss of RMB4,994.8 million in the second quarter\nof 2025 and net loss of RMB332.1 million in the first quarter of 2026.\nExcluding share-based compensation expenses, adjusted net profit (non-GAAP)\nwas RMB26.1 million (US$3.8 million) in the second quarter of 2026, compared\nwith adjusted net loss (non-GAAP) of RMB4,126.7 million in the second quarter\nof 2025 and adjusted net profit (non-GAAP) of RMB43.5 million in the first\nquarter of 2026.\n\n\n* Net loss attributable to NIO’s ordinary shareholders in the second quarter\nof 2026 was RMB721.6 million (US$106.4 million), compared with net loss\nattributable to NIO’s ordinary shareholders of RMB5,141.3 million in the\nsecond quarter of 2025 and net loss attributable to NIO’s ordinary\nshareholders of RMB496.0 million in the first quarter of 2026. Excluding\nshare-based compensation expenses and accretion on redeemable non-controlling\ninterests to redemption value, adjusted net profit attributable to NIO’s\nordinary shareholders (non-GAAP) was RMB24.8 million (US$3.7 million) in the\nsecond quarter of 2026, compared with adjusted net loss attributable to\nNIO’s ordinary shareholders (non-GAAP) of RMB4,124.9 million in the second\nquarter of 2025 and adjusted net profit attributable to NIO’s ordinary\nshareholders (non-GAAP) of RMB44.5 million in the first quarter of 2026.\n\n\n* Basic and diluted net loss per ordinary share/ADS in the second quarter of\n2026 were both RMB0.29 (US$0.04), compared with basic and diluted net loss per\nordinary share/ADS of RMB2.31 in the second quarter of 2025 and basic and\ndiluted net loss per ordinary share/ADS of RMB0.20 in the first quarter of\n2026. Excluding share-based compensation expenses and accretion on redeemable\nnon-controlling interests to redemption value, adjusted basic and diluted net\nprofit per ordinary share/ADS (non-GAAP) were both RMB0.01(US$0.00) in the\nsecond quarter of 2026, compared with adjusted basic and diluted net loss per\nordinary share/ADS (non-GAAP) of RMB1.85 in the second quarter of 2025 and\nadjusted basic and diluted net profit per ordinary share/ADS (non-GAAP) of\nRMB0.02 in the first quarter of 2026.\nBalance Sheet\n* Balance of cash and cash equivalents, restricted cash, short-term investment\nand long-term time deposits was RMB56.7 billion (US$8.4 billion) as of June\n30, 2026. We recorded net current assets as of June 30, 2026 and generated\npositive operating cash flows and adjusted net profit (non-GAAP) in the second\nquarter of 2026, despite recording a net loss under GAAP in this quarter.\nBased on our going concern and liquidity assessment, which considers our\nbusiness plan including revenue growth from the sales of existing and new\nvehicle models, continuous optimization of operation efficiency to improve\noperating cash flows, working capital management, the ability to raise funds\nfrom banks under available credit quotas and other sources when needed, and\nevaluates uncertainties as to the successful execution of our business plan,\nwe believe that our financial resources, including our available cash and cash\nequivalents, restricted cash and short-term investments, cash generated from\noperating activities and funds from available credit quotas and other sources\nwill be sufficient to support our continuous operations in the ordinary course\nof business for the next twelve months.\nBusiness Outlook\n\nFor the third quarter of 2026, the Company expects:\n* Deliveries of vehicles to be between 108,000 and 111,000 vehicles,\nrepresenting an increase of approximately 24.0% to 27.5% from the same\nquarter of 2025.\n* Total revenues to be between RMB33,285 million (US$4,906 million) and\nRMB34,051 million (US$5,019 million), representing an increase of\napproximately 52.7% to 56.2% from the same quarter of 2025.\nThis business outlook reflects the Company’s current and preliminary view on\nthe business situation and market condition, which is subject to change.\n\nConference Call\n\nThe Company’s management will host an earnings conference call at 8:00 AM\nU.S. Eastern Time on September 1, 2026 (8:00 PM Beijing/Hong Kong/Singapore\nTime on September 1, 2026).\n\nA live and archived webcast of the conference call will be available on the\nCompany’s investor relations website\nat https://ir.nio.com/news-events/events.\n\nFor participants who wish to join the conference using dial-in numbers, please\nregister in advance using the link provided below and dial in 10 minutes prior\nto the call. Dial-in numbers, passcode and unique access PIN would be provided\nupon registering.\n\nhttps://s1.c-conf.com/diamondpass/10056744-ju876y.html \n\nA replay of the conference call will be accessible by phone at the following\nnumbers, until September 8, 2026:\n\n United States:     +1-855-883-1031   \n Hong Kong, China:  +852-800-930-639  \n Mainland, China:   +86-400-1209-216  \n Singapore:         +65-800-1013-223  \n International:     +61-7-3107-6325   \n Replay PIN:        10056744          \n                                      \n\nAbout NIO Inc.\n\nNIO Inc. is a pioneer and a leading company in the global smart electric\nvehicle market. Founded in November 2014, NIO aspires to shape a sustainable\nand brighter future with the mission of “Blue Sky Coming”. NIO envisions\nitself as a user enterprise where innovative technology meets experience\nexcellence. NIO designs, develops, manufactures and sells smart electric\nvehicles, driving innovations in next-generation core technologies. NIO\ndistinguishes itself through continuous technological breakthroughs and\ninnovations, exceptional products and services, and a community for shared\ngrowth. NIO provides premium smart electric vehicles under the NIO brand,\npremium smart electric vehicles for families through the ONVO brand, and\nhigh-end smart electric compact cars with the FIREFLY brand.\n\nSafe Harbor Statement\n\nThis press release contains statements that may constitute\n“forward-looking” statements pursuant to the “safe harbor” provisions\nof the U.S. Private Securities Litigation Reform Act of 1995. These\nforward-looking statements can be identified by terminology such as\n“will,” “expects,” “anticipates,” “aims,” “future,”\n“intends,” “plans,” “believes,” “estimates,” “likely to”\nand similar statements. NIO may also make written or oral forward-looking\nstatements in its periodic reports to the U.S. Securities and Exchange\nCommission (the “SEC”), in its annual report to shareholders, in\nannouncements, circulars or other publications made on the websites of each of\nThe Stock Exchange of Hong Kong Limited (the “SEHK”) and the Singapore\nExchange Securities Trading Limited (the “SGX-ST”), in press releases and\nother written materials and in oral statements made by its officers, directors\nor employees to third parties. Statements that are not historical facts,\nincluding statements about NIO’s beliefs, plans and expectations, are\nforward-looking statements. Forward-looking statements involve inherent risks\nand uncertainties. A number of factors could cause actual results to differ\nmaterially from those contained in any forward-looking statement, including\nbut not limited to the following: NIO’s strategies; NIO’s future business\ndevelopment, financial condition and results of operations; NIO’s ability to\ndevelop and manufacture vehicles of sufficient quality and appeal to customers\non schedule and on a large scale; its ability to ensure and expand\nmanufacturing capacities including establishing and maintaining partnerships\nwith third parties; its ability to provide convenient and comprehensive power\nsolutions to its customers; the viability, growth potential and prospects of\nthe battery swapping, BaaS, and NIO Assisted and Intelligent Driving and its\nsubscription services; its ability to improve the technologies or develop\nalternative technologies in meeting evolving market demand and industry\ndevelopment; NIO’s ability to satisfy the mandated safety standards relating\nto motor vehicles; its ability to secure supply of raw materials or other\ncomponents used in its vehicles; its ability to secure sufficient reservations\nand sales of its vehicles; its ability to control costs associated with its\noperations; its ability to build its current and future brands; general\neconomic and business conditions globally and in China and assumptions\nunderlying or related to any of the foregoing. Further information regarding\nthese and other risks is included in NIO’s filings with the SEC and the\nannouncements and filings on the websites of each of the SEHK and SGX-ST. All\ninformation provided in this press release is as of the date of this press\nrelease, and NIO does not undertake any obligation to update any\nforward-looking statement, except as required under applicable law.\n\nNon-GAAP Disclosure\n\nThe Company uses non-GAAP measures, such as adjusted cost of sales (non-GAAP),\nadjusted research and development expenses (non-GAAP), adjusted selling,\ngeneral and administrative expenses (non-GAAP), adjusted profit/(loss) from\noperations (non-GAAP), adjusted net profit/(loss) (non-GAAP), adjusted net\nprofit/(loss) attributable to ordinary shareholders (non-GAAP) and adjusted\nbasic and diluted net profit/(loss) per ordinary share/ADS (non-GAAP), in\nevaluating its operating results and for financial and operational\ndecision-making purposes. The Company defines adjusted cost of sales\n(non-GAAP), adjusted research and development expenses (non-GAAP), adjusted\nselling, general and administrative expenses (non-GAAP) and adjusted\nprofit/(loss) from operations (non-GAAP) and adjusted net profit/(loss)\n(non-GAAP) as cost of sales, research and development expenses, selling,\ngeneral and administrative expenses, profit/(loss) from operations and net\nprofit/(loss) excluding share-based compensation expenses and organizational\noptimization charges. The Company defines adjusted net profit/(loss)\nattributable to ordinary shareholders (non-GAAP) and adjusted basic and\ndiluted profit/(loss) per ordinary share/ADS (non-GAAP) as profit/(loss)\nattributable to ordinary shareholders and basic and diluted profit/(loss) per\nordinary share/ADS excluding share-based compensation expenses, organizational\noptimization charges and accretion on redeemable non-controlling interests to\nredemption value. By excluding the impact of share-based compensation\nexpenses, organizational optimization charges and accretion on redeemable\nnon-controlling interests to redemption value, which are either non-cash or\nnot indicative of the Company’s ordinary or ongoing operations due to their\nsize or nature, the Company believes that the non-GAAP financial measures help\nidentify underlying trends in its business and enhance the overall\nunderstanding of the Company’s past performance and future prospects. The\nCompany also believes that the non-GAAP financial measures allow for greater\nvisibility with respect to key metrics used by the Company’s management in\nits financial and operational decision-making.\n\nThe non-GAAP financial measures are not presented in accordance with U.S. GAAP\nand may be different from non-GAAP methods of accounting and reporting used by\nother companies. The non-GAAP financial measures have limitations as\nanalytical tools and when assessing the Company’s operating performance,\ninvestors should not consider them in isolation, or as a substitute for net\nprofit/(loss) or other consolidated statements of comprehensive profit/(loss)\ndata prepared in accordance with U.S. GAAP. The Company encourages investors\nand others to review its financial information in its entirety and not rely on\na single financial measure.\n\nThe Company mitigates these limitations by reconciling the non-GAAP financial\nmeasures to the most comparable U.S. GAAP performance measures, all of which\nshould be considered when evaluating the Company’s performance.\n\nFor more information on the non-GAAP financial measures, please see the table\ncaptioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set\nforth at the end of this press release.\n\nExchange Rate\n\nThis announcement contains translations of certain Renminbi amounts into U.S.\ndollars at specified rates solely for the convenience of the reader. Unless\notherwise stated, all translations from Renminbi to U.S. dollars were made at\nthe rate of RMB6.7851 to US$1.00, the noon buying rate in effect on June 30,\n2026 in the H.10 statistical release of the Federal Reserve Board. The Company\nmakes no representation that the Renminbi or U.S. dollars amounts referred\ncould be converted into U.S. dollars or Renminbi, as the case may be, at any\nparticular rate or at all.\n\nFor more information, please visit: http://ir.nio.com.\n\nInvestor Relations\nir@nio.com\nMedia Relations\nglobal.press@nio.com\n\nSource: NIO\n\n                                                                                                           \n NIO INC. Unaudited Condensed Consolidated Balance Sheets                                                  \n \n(All amounts in thousands)                                                                               \n                                                 As of                                                     \n                                                 December 31, 2025     June 30, 2026     June 30, 2026     \n                                                 RMB                   RMB               US$               \n ASSETS                                                                                                    \n Current assets:                                                                                           \n Cash and cash equivalents                       11,274,094            17,453,564        2,572,337         \n Restricted cash                                 14,745,975            13,510,507        1,991,202         \n Short-term investments                          19,755,809            25,634,741        3,778,093         \n Trade and notes receivables                     1,394,445             1,196,734         176,377           \n Amounts due from related parties                16,078,250            14,986,044        2,208,670         \n Inventory                                       8,530,854             11,089,742        1,634,426         \n Prepayments and other current assets            4,853,610             5,378,445         792,685           \n Total current assets                            76,633,037            89,249,777        13,153,790        \n Non-current assets:                                                                                       \n Long-term restricted cash                       88,325                68,625            10,114            \n Property, plant and equipment, net              25,827,968            25,251,240        3,721,572         \n Intangible assets, net                          29,648                173,212           25,528            \n Land use rights, net                            196,691               194,039           28,598            \n Long-term investments                           2,480,518             2,340,908         345,007           \n Right-of-use assets - operating lease           11,711,306            10,957,091        1,614,875         \n Other non-current assets                        7,433,585             7,976,448         1,175,584         \n Total non-current assets                        47,768,041            46,961,563        6,921,278         \n Total assets                                    124,401,078           136,211,340       20,075,068        \n LIABILITIES                                                                                               \n Current liabilities:                                                                                      \n Short-term borrowings                           4,691,910             8,164,766         1,203,338         \n Trade and notes payable                         53,309,727            60,385,478        8,899,718         \n Amounts due to related parties, current         625,903               502,353           74,038            \n Taxes payable                                   439,240               334,595           49,313            \n Current portion of operating lease liabilities  2,163,768             1,961,855         289,142           \n Current portion of long-term borrowings         655,971               897,712           132,306           \n Accruals and other liabilities                  16,696,044            15,371,799        2,265,523         \n Total current liabilities                       78,582,563            87,618,558        12,913,378        \n Non-current liabilities:                                                                                  \n Long-term borrowings                            8,626,272             8,550,926         1,260,251         \n Non-current operating lease liabilities         10,092,039            9,420,681         1,388,437         \n Amounts due to related parties, non-current     604,178               1,190,070         175,395           \n Deferred tax liabilities                        112,691               133,011           19,603            \n Other non-current liabilities                   13,690,778            15,029,869        2,215,128         \n Total non-current liabilities                   33,125,958            34,324,557        5,058,814         \n Total liabilities                               111,708,521           121,943,115       17,972,192        \n\n\n\n                                                                                                                                                           \n NIO INC. Unaudited Condensed Consolidated Balance Sheets                                                                                                  \n \n(All amounts in thousands)                                                                                                                               \n                                                                                                                                                           \n                                                                   As of                                                                                   \n                                                                   December 31, 2025               June 30, 2026                 June 30, 2026             \n                                                                   RMB                             RMB                           US$                       \n MEZZANINE EQUITY                                                                                                                                          \n Redeemable non-controlling interests                                      8,551,854                      10,222,746                    1,506,646          \n Total mezzanine equity                                                    8,551,854                      10,222,746                    1,506,646          \n SHAREHOLDERS’ EQUITY                                                                                                                                      \n Total NIO Inc. shareholders’ equity                                       4,159,460                      4,064,040                     598,966            \n Non-controlling interests                                                 (18,757      )                 (18,561      )                (2,736      )      \n Total shareholders’ equity                                                4,140,703                      4,045,479                     596,230            \n Total liabilities, mezzanine equity and shareholders’ equity              124,401,078                    136,211,340                   20,075,068         \n\n\n\n                                                                                                                                                                                                                             \n NIO INC. Unaudited Condensed Consolidated Statements of Comprehensive Loss                                                                                                                                                  \n \n(All amounts in thousands, except for share and per share/ADS data)                                                                                                                                                        \n                                                                                                                                                                                                                             \n                                                                                             Three Months Ended                                                                                                              \n                                                                                             June 30, 2025                    Mar 31, 2026                     June 30, 2026                    June 30, 2026                \n                                                                                             RMB                              RMB                              RMB                              US$                          \n Revenues:                                                                                                                                                                                                                   \n Vehicle sales                                                                                      16,136,114                       22,783,708                       29,058,229                       4,282,653             \n Other sales                                                                                        2,872,551                        2,748,947                        3,078,632                        453,734               \n Total revenues                                                                                     19,008,665                       25,532,655                       32,136,861                       4,736,387             \n Cost of sales:                                                                                                                                                                                                              \n Vehicle sales                                                                                      (14,473,222    )                 (18,491,467    )                 (23,673,959    )                 (3,489,110     )      \n Other sales                                                                                        (2,637,920     )                 (2,182,051     )                 (2,556,412     )                 (376,769       )      \n Total cost of sales                                                                                (17,111,142    )                 (20,673,518    )                 (26,230,371    )                 (3,865,879     )      \n Gross profit                                                                                       1,897,523                        4,859,137                        5,906,490                        870,508               \n Operating expenses:                                                                                                                                                                                                         \n Research and development                                                                           (3,007,032     )                 (1,885,024     )                 (2,144,918     )                 (316,122       )      \n Selling, general and administrative                                                                (3,964,921     )                 (3,497,306     )                 (4,424,516     )                 (652,093       )      \n Other operating income, net                                                                        165,572                          214,382                          315,725                          46,532                \n Total operating expenses                                                                           (6,806,381     )                 (5,167,948     )                 (6,253,709     )                 (921,683       )      \n Loss from operations                                                                               (4,908,858     )                 (308,811       )                 (347,219       )                 (51,175        )      \n Interest and investment income /(loss)                                                             107,529                          115,894                          (18,959        )                 (2,794         )      \n Interest expenses                                                                                  (212,748       )                 (214,405       )                 (242,389       )                 (35,724        )      \n Share of losses of equity investees                                                                (124,664       )                 (37,908        )                 (149,383       )                 (22,016        )      \n Other income, net                                                                                  186,879                          125,266                          262,774                          38,728                \n Loss before income tax expense                                                                     (4,951,862     )                 (319,964       )                 (495,176       )                 (72,981        )      \n Income tax expense                                                                                 (42,939        )                 (12,118        )                 (32,833        )                 (4,839         )      \n Net loss                                                                                           (4,994,801     )                 (332,082       )                 (528,009       )                 (77,820        )      \n Accretion on redeemable non-controlling interests to redemption value                              (148,374       )                 (164,987       )                 (192,325       )                 (28,345        )      \n Net loss/(profit) attributable to non-controlling interests                                        1,868                            1,061                            (1,257         )                 (185           )      \n Net loss attributable to ordinary shareholders of NIO Inc.                                         (5,141,307     )                 (496,008       )                 (721,591       )                 (106,350       )      \n Net loss                                                                                           (4,994,801     )                 (332,082       )                 (528,009       )                 (77,820        )      \n Other comprehensive income/(loss)                                                                                                                                                                                           \n Foreign currency translation adjustment, net of nil tax                                            184,568                          (148,948       )                 (120,909       )                 (17,820        )      \n Total other comprehensive income/(loss)                                                            184,568                          (148,948       )                 (120,909       )                 (17,820        )      \n Total comprehensive loss                                                                           (4,810,233     )                 (481,030       )                 (648,918       )                 (95,640        )      \n Accretion on redeemable non-controlling interests to redemption value                              (148,374       )                 (164,987       )                 (192,325       )                 (28,345        )      \n Net loss/(profit) attributable to non-controlling interests                                        1,868                            1,061                            (1,257         )                 (185           )      \n Comprehensive loss attributable to ordinary shareholders of NIO Inc.                               (4,956,739     )                 (644,956       )                 (842,500       )                 (124,170       )      \n Weighted average number of ordinary shares/ADSs used in computing net loss per share/ADS                                                                                                                                    \n Basic and diluted                                                                                  2,230,044,617                    2,481,180,303                    2,496,741,061                    2,496,741,061         \n Net loss per share/ADS attributable to ordinary shareholders                                                                                                                                                                \n Basic and diluted                                                                                  (2.31          )                 (0.20          )                 (0.29          )                 (0.04          )      \n\n\n\n                                                                                                                                                                                            \n NIO INC. Unaudited Condensed Consolidated Statements of Comprehensive Loss                                                                                                                 \n \n(All amounts in thousands, except for share and per share/ADS data)                                                                                                                       \n                                                                                                                                                                                            \n                                                                                             Six Months Ended                                                                               \n                                                                                             June 30, 2025                    June 30, 2026                    June 30, 2026                \n                                                                                             RMB                              RMB                              US$                          \n Revenues:                                                                                                                                                                                  \n Vehicle sales                                                                                      26,075,419                       51,841,937                       7,640,556             \n Other sales                                                                                        4,967,975                        5,827,579                        858,879               \n Total revenues                                                                                     31,043,394                       57,669,516                       8,499,435             \n Cost of sales:                                                                                                                                                                             \n Vehicle sales                                                                                      (23,398,863    )                 (42,165,426    )                 (6,214,415     )      \n Other sales                                                                                        (4,827,454     )                 (4,738,463     )                 (698,363       )      \n Total cost of sales                                                                                (28,226,317    )                 (46,903,889    )                 (6,912,778     )      \n Gross profit                                                                                       2,817,077                        10,765,627                       1,586,657             \n Operating expenses:                                                                                                                                                                        \n Research and development                                                                           (6,188,435     )                 (4,029,942     )                 (593,940       )      \n Selling, general and administrative                                                                (8,365,684     )                 (7,921,822     )                 (1,167,532     )      \n Other operating income, net                                                                        410,056                          530,107                          78,128                \n Total operating expenses                                                                           (14,144,063    )                 (11,421,657    )                 (1,683,344     )      \n Loss from operations                                                                               (11,326,986    )                 (656,030       )                 (96,687        )      \n Interest and investment income                                                                     280,745                          96,935                           14,286                \n Interest expenses                                                                                  (457,610       )                 (456,794       )                 (67,323        )      \n Loss on extinguishment of debt                                                                     (14,660        )                 -                                -                     \n Share of losses of equity investees                                                                (380,859       )                 (187,291       )                 (27,603        )      \n Other income, net                                                                                  202,106                          388,040                          57,190                \n Loss before income tax expense                                                                     (11,697,264    )                 (815,140       )                 (120,137       )      \n Income tax expense                                                                                 (47,570        )                 (44,951        )                 (6,625         )      \n Net loss                                                                                           (11,744,834    )                 (860,091       )                 (126,762       )      \n Accretion on redeemable non-controlling interests to redemption value                              (292,864       )                 (357,312       )                 (52,661        )      \n Net loss/(profit) attributable to non-controlling interests                                        5,330                            (196           )                 (29            )      \n Net loss attributable to ordinary shareholders of NIO Inc.                                         (12,032,368    )                 (1,217,599     )                 (179,452       )      \n Net loss                                                                                           (11,744,834    )                 (860,091       )                 (126,762       )      \n Other comprehensive income/(loss)                                                                                                                                                          \n Foreign currency translation adjustment, net of nil tax                                            260,479                          (269,857       )                 (39,772        )      \n Total other comprehensive income/(loss)                                                            260,479                          (269,857       )                 (39,772        )      \n Total comprehensive loss                                                                           (11,484,355    )                 (1,129,948     )                 (166,534       )      \n Accretion on redeemable non-controlling interests to redemption value                              (292,864       )                 (357,312       )                 (52,661        )      \n Net loss/(profit) attributable to non-controlling interests                                        5,330                            (196           )                 (29            )      \n Comprehensive loss attributable to ordinary shareholders of NIO Inc.                               (11,771,889    )                 (1,487,456     )                 (219,224       )      \n Weighted average number of ordinary shares/ADSs used in computing net loss per share/ADS                                                                                                   \n Basic and diluted                                                                                  2,162,319,854                    2,489,003,668                    2,489,003,668         \n Net loss per share/ADS attributable to ordinary shareholders                                                                                                                               \n Basic and diluted                                                                                  (5.56          )                 (0.49          )                 (0.07          )      \n\n\n\n                                                                                                                                                                                                                                                                                                    \n NIO INC. Unaudited Reconciliation of GAAP and Non-GAAP Results                                                                                                                                                                                                                                     \n \n(All amounts in thousands, except for share and per share/ADS data)                                                                                                                                                                                                                               \n                                                                                                                                                                                                                                                                                                    \n                                                                                                   Three Months Ended June 30, 2026                                                                                                                                                                 \n                                                                                                        GAAP Result                 Share-based compensation                 Accretion on redeemable non-controlling interests to redemption value                 Adjusted Result (Non-GAAP)       \n                                                                                                        RMB                         RMB                                      RMB                                                                                   RMB                              \n Cost of sales                                                                                          (26,230,371  )              7,487                                    —                                                                                     (26,222,884                 )    \n Research and development expenses                                                                      (2,144,918   )              161,705                                  —                                                                                     (1,983,213                  )    \n Selling, general and administrative expenses                                                           (4,424,516   )              384,881                                  —                                                                                     (4,039,635                  )    \n Total                                                                                                  (32,799,805  )              554,073                                  —                                                                                     (32,245,732                 )    \n (Loss)/profit from operations                                                                          (347,219     )              554,073                                  —                                                                                     206,854                          \n Net (loss)/profit                                                                                      (528,009     )              554,073                                  —                                                                                     26,064                           \n Net (loss)/profit attributable to ordinary shareholders of NIO Inc.                                    (721,591     )              554,073                                  192,325                                                                               24,807                           \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)         (0.29        )              0.22                                     0.08                                                                                  0.01                             \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (USD)         (0.04        )              0.03                                     0.01                                                                                  0.00                             \n\n\n\n                                                                                                   Three Months Ended March 31, 2026                                                                                                                                                                \n                                                                                                        GAAP Result                 Share-based compensation                 Accretion on redeemable non-controlling interests to redemption value                 Adjusted Result (Non-GAAP)       \n                                                                                                        RMB                         RMB                                      RMB                                                                                   RMB                              \n Cost of sales                                                                                          (20,673,518  )              10,097                                   —                                                                                     (20,663,421                 )    \n Research and development expenses                                                                      (1,885,024   )              176,844                                  —                                                                                     (1,708,180                  )    \n Selling, general and administrative expenses                                                           (3,497,306   )              188,629                                  —                                                                                     (3,308,677                  )    \n Total                                                                                                  (26,055,848  )              375,570                                  —                                                                                     (25,680,278                 )    \n (Loss)/profit from operations                                                                          (308,811     )              375,570                                  —                                                                                     66,759                           \n Net (loss)/profit                                                                                      (332,082     )              375,570                                  —                                                                                     43,488                           \n Net (loss)/profit attributable to ordinary shareholders of NIO Inc.                                    (496,008     )              375,570                                  164,987                                                                               44,549                           \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)         (0.20        )              0.15                                     0.07                                                                                  0.02                             \n\n\n\n                                                                                          Three Months Ended June 30, 2025                                                                                                                                                                                                       \n                                                                                              GAAP Result              Share-based compensation              Organizational optimization charges              Accretion on redeemable non-controlling interests to redemption value              Adjusted Result (Non-GAAP)      \n                                                                                              RMB                      RMB                                   RMB                                              RMB                                                                                RMB                             \n Cost of sales                                                                                (17,111,142  )           12,867                                54,282                                           —                                                                                  (17,043,993                 )   \n Research and development expenses                                                            (3,007,032   )           302,620                               215,532                                          —                                                                                  (2,488,880                  )   \n Selling, general and administrative expenses                                                 (3,964,921   )           110,688                               172,074                                          —                                                                                  (3,682,159                  )   \n Total                                                                                        (24,083,095  )           426,175                               441,888                                          —                                                                                  (23,215,032                 )   \n Loss from operations                                                                         (4,908,858   )           426,175                               441,888                                          —                                                                                  (4,040,795                  )   \n Net loss                                                                                     (4,994,801   )           426,175                               441,888                                          —                                                                                  (4,126,738                  )   \n Net loss attributable to ordinary shareholders of NIO Inc.                                   (5,141,307   )           426,175                               441,888                                          148,374                                                                            (4,124,870                  )   \n Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)        (2.31        )           0.19                                  0.20                                             0.07                                                                               (1.85                       )   \n\n\n\n                                                                                                   Six Months Ended June 30, 2026                                                                                                                                                                   \n                                                                                                        GAAP Result                 Share-based compensation                 Accretion on redeemable non-controlling interests to redemption value                 Adjusted Result (Non-GAAP)       \n                                                                                                        RMB                         RMB                                      RMB                                                                                   RMB                              \n Cost of sales                                                                                          (46,903,889  )              17,584                                   —                                                                                     (46,886,305                 )    \n Research and development expenses                                                                      (4,029,942   )              338,549                                  —                                                                                     (3,691,393                  )    \n Selling, general and administrative expenses                                                           (7,921,822   )              573,510                                  —                                                                                     (7,348,312                  )    \n Total                                                                                                  (58,855,653  )              929,643                                  —                                                                                     (57,926,010                 )    \n (Loss)/profit from operations                                                                          (656,030     )              929,643                                  —                                                                                     273,613                          \n Net (loss)/profit                                                                                      (860,091     )              929,643                                  —                                                                                     69,552                           \n Net (loss)/profit attributable to ordinary shareholders of NIO Inc.                                    (1,217,599   )              929,643                                  357,312                                                                               69,356                           \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)         (0.49        )              0.37                                     0.14                                                                                  0.02                             \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (USD)         (0.07        )              0.05                                     0.02                                                                                  0.00                             \n\n\n\n                                                                                          Six Months Ended June 30, 2025                                                                                                                                                                                                         \n                                                                                              GAAP Result              Share-based compensation              Organizational optimization charges              Accretion on redeemable non-controlling interests to redemption value              Adjusted Result (Non-GAAP)      \n                                                                                              RMB                      RMB                                   RMB                                              RMB                                                                                RMB                             \n Cost of sales                                                                                (28,226,317  )           27,868                                54,282                                           —                                                                                  (28,144,167                 )   \n Research and development expenses                                                            (6,188,435   )           569,667                               215,532                                          —                                                                                  (5,403,236                  )   \n Selling, general and administrative expenses                                                 (8,365,684   )           299,579                               172,074                                          —                                                                                  (7,894,031                  )   \n Total                                                                                        (42,780,436  )           897,114                               441,888                                          —                                                                                  (41,441,434                 )   \n Loss from operations                                                                         (11,326,986  )           897,114                               441,888                                          —                                                                                  (9,987,984                  )   \n Net loss                                                                                     (11,744,834  )           897,114                               441,888                                          —                                                                                  (10,405,832                 )   \n Net loss attributable to ordinary shareholders of NIO Inc.                                   (12,032,368  )           897,114                               441,888                                          292,864                                                                            (10,400,502                 )   \n Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)        (5.56        )           0.41                                  0.20                                             0.14                                                                               (4.81                       )   \n\n(i) All translations from RMB to USD for the second quarter of 2026 were made\nat the rate of RMB6.7851 to US$1.00, the noon buying rate in effect on June\n30, 2026 in the H.10 statistical release of the Federal Reserve Board.\n(ii) Vehicle margin is the margin of new vehicle sales, which is calculated\nbased on revenues and cost of sales derived from new vehicle sales only.\n(iii) Except for gross margin and vehicle margin, where absolute changes\ninstead of percentage changes are calculated.\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3Prpbk","title":"NIO Inc. Reports Unaudited Second Quarter 2026 Financial Results","author":"Globe Newswire","ticker":"NIO","created":"2026-09-01T10:00:01.081Z","tickers":["NIO","9866"],"exchange":"NYSE","article_body":"Quarterly Total Revenues Reached RMB32,136.9 Million (US$4,736.4 Million)(i)\nQuarterly Vehicle Deliveries Were 107,658 Units\n\nSHANGHAI, Sept. 01, 2026 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866;\nSGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in\nthe global smart electric vehicle market, today announced its unaudited\nfinancial results for the second quarter ended June 30, 2026.\n\nOperating Highlights for the Second Quarter of 2026\n* Vehicle deliveries were 107,658 in the second quarter of 2026, representing\nan increase of 49.4% from the second quarter of 2025, and an increase of 29.0%\nfrom the first quarter of 2026. The deliveries consisted of 60,945 vehicles\nfrom NIO brand, 29,124 vehicles from ONVO brand, and 17,589 vehicles from\nFIREFLY brand.\n Key Operating Results                           \n                                                 \n             2026 Q2  2026 Q1  2025 Q4  2025 Q3  \n Deliveries  107,658  83,465   124,807  87,071   \n                                                 \n             2025 Q2  2025 Q1  2024 Q4  2024 Q3  \n Deliveries  72,056   42,094   72,689   61,855   \n                                                 \n\nFinancial Highlights for the Second Quarter of 2026\n* Vehicle sales were RMB29,058.2 million (US$4,282.7 million) in the second\nquarter of 2026, representing an increase of 80.1% from the second quarter of\n2025 and an increase of 27.5% from the first quarter of 2026.\n* Vehicle margin(ii) was 18.5% in the second quarter of 2026, compared with\n10.3% in the second quarter of 2025 and 18.8% in the first quarter of 2026.\n* Total revenues were RMB32,136.9 million (US$4,736.4 million) in the second\nquarter of 2026, representing an increase of 69.1% from the second quarter of\n2025 and an increase of 25.9% from the first quarter of 2026.\n* Gross profit was RMB5,906.5 million (US$870.5 million) in the second quarter\nof 2026, representing an increase of 211.3% from the second quarter of 2025\nand an increase of 21.6% from the first quarter of 2026.\n* Gross margin was 18.4% in the second quarter of 2026, compared with 10.0% in\nthe second quarter of 2025 and 19.0% in the first quarter of 2026.\n* Loss from operations was RMB347.2 million (US$51.2 million) in the second\nquarter of 2026, compared with loss from operations of RMB4,908.9 million in\nthe second quarter of 2025 and loss from operations of RMB308.8 million in the\nfirst quarter of 2026. Excluding share-based compensation expenses, adjusted\nprofit from operations (non-GAAP) was RMB206.9 million (US$30.5 million) in\nthe second quarter of 2026, compared with adjusted loss from operations\n(non-GAAP) of RMB4,040.8 million in the second quarter of 2025 and adjusted\nprofit from operations (non-GAAP) of RMB66.8 million in the first quarter of\n2026.\n* Net loss was RMB528.0 million (US$77.8 million) in the second quarter of\n2026, compared with net loss of RMB4,994.8 million in the second quarter of\n2025 and net loss of RMB332.1 million in the first quarter of 2026. Excluding\nshare-based compensation expenses, adjusted net profit (non-GAAP) was RMB26.1\nmillion (US$3.8 million) in the second quarter of 2026, compared with adjusted\nnet loss (non-GAAP) of RMB4,126.7 million in the second quarter of 2025 and\nadjusted net profit (non-GAAP) of RMB43.5 million in the first quarter of\n2026.\n* Cash and cash equivalents, restricted cash, short-term investment and\nlong-term time deposits were RMB56.7 billion (US$8.4 billion) as of June 30,\n2026.\n Key Financial Results for the Second Quarter of 2026                                                                                   \n (in RMB million, except for percentage)                                                                                                \n                                                       2026Q2          2026 Q1           2025 Q2            % Change (iii)              \n                                                                                                            QoQ           YoY           \n Vehicle Sales                                         29,058.2        22,783.7          16,136.1           27.5%         80.1%         \n Vehicle Margin                                        18.5%           18.8%             10.3%              -30bp         820bp         \n                                                                                                                                        \n Total Revenues                                        32,136.9        25,532.7          19,008.7           25.9%         69.1%         \n Gross Profit                                          5,906.5         4,859.1           1,897.5            21.6%         211.3%        \n Gross Margin                                          18.4%           19.0%             10.0%              -60bp         840bp         \n                                                                                                                                        \n Loss from Operations                                  (347.2)         (308.8)           (4,908.9)          12.4%         -92.9%        \n Adjusted Profit/(Loss) from Operations (non-GAAP)     206.9           66.8              (4,040.8)          209.7%        N/A           \n                                                                                                                                        \n Net Loss                                              (528.0)         (332.1)           (4,994.8)          59.0%         -89.4%        \n Adjusted Net Profit/(Loss) (non-GAAP)                 26.1            43.5              (4,126.7)          -40.0%        N/A           \n                                                                                                                                        \n\nRecent Developments\n\nDeliveries in July and August 2026\n* The Company delivered 35,934 vehicles and 35,836 vehicles in July and August\n2026, respectively. As of August 31, 2026, the Company had delivered 262,893\nvehicles in 2026, with cumulative deliveries reaching 1,260,485.\nDebut of NIO All-New ES8 Five-Seat Version\n* On July 9, 2026, the Company officially launched the NIO All-New ES8\nFive-Seat Version, with deliveries commencing the following day. Featuring\nexceptional spaciousness, elevated comfort, and advanced intelligent\ntechnologies, the ES8 Five-Seat Version sets a new benchmark for the premium\nbattery electric SUV segment. The enhanced lineup strengthens NIO's presence\nacross the premium large five-seat and premium three-row SUV segments, further\nreinforcing its leadership in the premium SUV market.\nFinancing of Shenji\n* In June and August 2026, GeniTech Co., Ltd. (“Shenji”), a subsidiary of\nthe Company, entered into definitive agreements across two funding rounds with\ncertain investors in China. Pursuant to these agreements, the investors agreed\nto subscribe for newly issued shares of Shenji for an aggregate cash\nconsideration of RMB493 million, implying a post-money valuation of RMB12.25\nbillion. Upon completion of the financing transactions, a subsidiary of NIO\nwill hold a controlling equity interest of 59.95% in Shenji.\nCEO and CFO Comments\n\n“In the second quarter of 2026, the Company delivered 107,658 smart electric\nvehicles, representing a 49.4% year-over-year increase. All three brands, NIO,\nONVO, and FIREFLY, achieved growth in both sales volume and average\ntransaction price. For the third quarter, we expect total deliveries to range\nbetween 108,000 and 111,000 vehicles, with a year-over-year growth of 24.0%\nto 27.5%,” said William Bin Li, founder, chairman, and chief executive\nofficer of NIO.\n\n“In the second quarter, the NIO brand ranked first in China’s passenger\nvehicle market priced above RMB 350,000. The ES8 has sustained strong market\nmomentum since its launch and reached its 140,000th delivery within 335 days,\nleading China’s RMB 400,000-level passenger vehicle segment and the large\nSUV segment. The ES9, our executive flagship SUV, continues to win over users\nfrom traditional fuel-powered luxury SUVs, ranking first in sales among\npassenger vehicles priced above RMB 500,000 in China in both June and July.\nWith the compelling product advantages of the ONVO L90 and L80, the ONVO brand\nhas become the sales leader in China’s RMB 200,000 to RMB 300,000 large SUV\nsegment. Meanwhile, the firefly has ranked first in market share in China’s\nhigh-end small-car market for 15 consecutive months, further strengthening its\nleadership in the segment,” added William Bin Li.\n\n“In the second quarter of 2026, the Company continued to improve its overall\noperating quality. Supported by strong sales of higher-margin models and\nongoing optimization of our cost structure, we maintained healthy gross and\nvehicle margins despite rising cost pressures. Services and community-related\nbusinesses continued to contribute to profitability. The Company maintained\npositive non-GAAP operating profit during the quarter, further increasing our\ncash reserves and strengthening our financial position to support long-term,\nsustainable development,” said Stanley Yu Qu, NIO’s chief financial\nofficer. “With our solid, comprehensive systematic capabilities and clear\nbusiness strategies, we are confident in achieving our full-year operating\nobjectives and delivering high-quality growth.”\n\nFinancial Results for the Second Quarter of 2026\n\nRevenues\n* Total revenues in the second quarter of 2026 were RMB32,136.9 million\n(US$4,736.4 million), representing an increase of 69.1% from the second\nquarter of 2025 and an increase of 25.9% from the first quarter of 2026.\n\n\n* Vehicle sales in the second quarter of 2026 were RMB29,058.2 million\n(US$4,282.7 million), representing an increase of 80.1% from the second\nquarter of 2025 and an increase of 27.5% from the first quarter of 2026. The\nincrease in vehicle sales over the second quarter of 2025 was mainly due to an\nincrease in delivery volume and a higher average selling price as a result of\nchanges in product mix. The increase in vehicle sales over the first quarter\nof 2026 was mainly attributable to an increase in delivery volume.\n\n\n* Other sales in the second quarter of 2026 were RMB3,078.6 million (US$453.7\nmillion), representing an increase of 7.2% from the second quarter of 2025 and\nan increase of 12.0% from the first quarter of 2026. The increase in other\nsales over the second quarter of 2025 was mainly due to an increase in sales\nof parts, accessories and after-sales vehicle services as a result of the\ncontinued growth in the number of users, and partially offset by a decrease in\nrevenues from sales of used cars and technical research and development\nservices. The increase in other sales over the first quarter of 2026 was\nmainly due to (i) an increase in revenues from sales of used cars and (ii) an\nincrease in sales of parts, accessories and after-sales vehicle services,\npartially offset by a decrease in revenues from provision of auto financing\nservices.\nCost of Sales and Gross Margin\n* Cost of sales in the second quarter of 2026 was RMB26,230.4 million\n(US$3,865.9 million), representing an increase of 53.3% from the second\nquarter of 2025 and an increase of 26.9% from the first quarter of 2026. The\nincrease in cost of sales over the second quarter of 2025 and the first\nquarter of 2026 was mainly attributable to an increase in delivery volume.\n\n\n* Gross profit in the second quarter of 2026 was RMB5,906.5 million (US$870.5\nmillion), representing an increase of 211.3% from the second quarter of 2025\nand an increase of 21.6% from the first quarter of 2026.\n\n\n* Gross margin in the second quarter of 2026 was 18.4%, compared with 10.0% in\nthe second quarter of 2025 and 19.0% in the first quarter of 2026. The\nincrease in gross margin over the second quarter of 2025 was mainly\nattributable to the increased vehicle margin. The slight decrease in gross\nmargin over the first quarter of 2026 was mainly attributable to gross margin\nfrom vehicle sales, provision of power solutions, and sales of parts,\naccessories and after-sales vehicle services.\n\n\n* Vehicle margin in the second quarter of 2026 was 18.5%, compared with 10.3%\nin the second quarter of 2025 and 18.8% in the first quarter of 2026. The\nincrease in vehicle margin from the second quarter of 2025 was mainly\nattributable to a more favorable product mix. The vehicle margin remained\nrelatively stable from the first quarter of 2026.\nOperating Expenses\n* Research and development expenses in the second quarter of 2026 were\nRMB2,144.9 million (US$316.1 million), representing a decrease of 28.7% from\nthe second quarter of 2025 and an increase of 13.8% from the first quarter of\n2026. Excluding share-based compensation expenses, adjusted research and\ndevelopment expenses (non-GAAP) were RMB1,983.2 million (US$292.3 million) in\nthe second quarter of 2026, representing a decrease of 20.3% from the second\nquarter of 2025 and an increase of 16.1% from the first quarter of 2026. The\ndecrease in research and development expenses over the second quarter of 2025\nwas mainly due to (i) decreased personnel costs in research and development\nfunctions primarily as a result of organizational optimization, and (ii)\ndecreased design and development costs mainly resulting from different stages\nof development and improved operational efficiency. The increase in research\nand development expenses over the first quarter of 2026 was mainly due to the\nincremental design and development costs for new products and technologies as\nwell as the increased personnel costs in research and development functions. \n\n\n* Selling, general and administrative expenses in the second quarter of 2026\nwere RMB4,424.5 million (US$652.1 million), representing an increase of 11.6%\nfrom the second quarter of 2025 and an increase of 26.5% from the first\nquarter of 2026. Excluding share-based compensation expenses, adjusted\nselling, general and administrative expenses (non-GAAP) were RMB4,039.6\nmillion (US$595.4 million) in the second quarter of 2026, representing an\nincrease of 9.7% from the second quarter of 2025 and an increase of 22.1% from\nthe first quarter of 2026. The increase in selling, general and administrative\nexpenses over the second quarter of 2025 was mainly attributable to an\nincrease in sales and marketing activities associated with new product\nlaunches. The increase in selling, general and administrative expenses over\nthe first quarter of 2026 was mainly attributable to (i) an increase in sales\nand marketing activities associated with new product launches, as well as an\nincrease in personnel and related costs for marketing functions, and (ii) an\nincrease in share-based compensation for general corporate functions.\nLoss from Operations\n* Loss from operations in the second quarter of 2026 was RMB347.2 million\n(US$51.2 million), compared with loss from operations of RMB4,908.9 million in\nthe second quarter of 2025 and loss from operations of RMB308.8 million in the\nfirst quarter of 2026. Excluding share-based compensation expenses, adjusted\nprofit from operations (non-GAAP) was RMB206.9 million (US$30.5 million) in\nthe second quarter of 2026, compared with adjusted loss from operations\n(non-GAAP) of RMB4,040.8 million in the second quarter of 2025 and adjusted\nprofit from operations (non-GAAP) of RMB66.8 million in the first quarter of\n2026.\nNet Loss and Earnings Per Ordinary Share/ADS\n* Net loss in the second quarter of 2026 was RMB528.0 million (US$77.8\nmillion), compared with net loss of RMB4,994.8 million in the second quarter\nof 2025 and net loss of RMB332.1 million in the first quarter of 2026.\nExcluding share-based compensation expenses, adjusted net profit (non-GAAP)\nwas RMB26.1 million (US$3.8 million) in the second quarter of 2026, compared\nwith adjusted net loss (non-GAAP) of RMB4,126.7 million in the second quarter\nof 2025 and adjusted net profit (non-GAAP) of RMB43.5 million in the first\nquarter of 2026.\n\n\n* Net loss attributable to NIO’s ordinary shareholders in the second quarter\nof 2026 was RMB721.6 million (US$106.4 million), compared with net loss\nattributable to NIO’s ordinary shareholders of RMB5,141.3 million in the\nsecond quarter of 2025 and net loss attributable to NIO’s ordinary\nshareholders of RMB496.0 million in the first quarter of 2026. Excluding\nshare-based compensation expenses and accretion on redeemable non-controlling\ninterests to redemption value, adjusted net profit attributable to NIO’s\nordinary shareholders (non-GAAP) was RMB24.8 million (US$3.7 million) in the\nsecond quarter of 2026, compared with adjusted net loss attributable to\nNIO’s ordinary shareholders (non-GAAP) of RMB4,124.9 million in the second\nquarter of 2025 and adjusted net profit attributable to NIO’s ordinary\nshareholders (non-GAAP) of RMB44.5 million in the first quarter of 2026.\n\n\n* Basic and diluted net loss per ordinary share/ADS in the second quarter of\n2026 were both RMB0.29 (US$0.04), compared with basic and diluted net loss per\nordinary share/ADS of RMB2.31 in the second quarter of 2025 and basic and\ndiluted net loss per ordinary share/ADS of RMB0.20 in the first quarter of\n2026. Excluding share-based compensation expenses and accretion on redeemable\nnon-controlling interests to redemption value, adjusted basic and diluted net\nprofit per ordinary share/ADS (non-GAAP) were both RMB0.01(US$0.00) in the\nsecond quarter of 2026, compared with adjusted basic and diluted net loss per\nordinary share/ADS (non-GAAP) of RMB1.85 in the second quarter of 2025 and\nadjusted basic and diluted net profit per ordinary share/ADS (non-GAAP) of\nRMB0.02 in the first quarter of 2026.\nBalance Sheet\n* Balance of cash and cash equivalents, restricted cash, short-term investment\nand long-term time deposits was RMB56.7 billion (US$8.4 billion) as of June\n30, 2026. We recorded net current assets as of June 30, 2026 and generated\npositive operating cash flows and adjusted net profit (non-GAAP) in the second\nquarter of 2026, despite recording a net loss under GAAP in this quarter.\nBased on our going concern and liquidity assessment, which considers our\nbusiness plan including revenue growth from the sales of existing and new\nvehicle models, continuous optimization of operation efficiency to improve\noperating cash flows, working capital management, the ability to raise funds\nfrom banks under available credit quotas and other sources when needed, and\nevaluates uncertainties as to the successful execution of our business plan,\nwe believe that our financial resources, including our available cash and cash\nequivalents, restricted cash and short-term investments, cash generated from\noperating activities and funds from available credit quotas and other sources\nwill be sufficient to support our continuous operations in the ordinary course\nof business for the next twelve months.\nBusiness Outlook\n\nFor the third quarter of 2026, the Company expects:\n* Deliveries of vehicles to be between 108,000 and 111,000 vehicles,\nrepresenting an increase of approximately 24.0% to 27.5% from the same\nquarter of 2025.\n* Total revenues to be between RMB33,285 million (US$4,906 million) and\nRMB34,051 million (US$5,019 million), representing an increase of\napproximately 52.7% to 56.2% from the same quarter of 2025.\nThis business outlook reflects the Company’s current and preliminary view on\nthe business situation and market condition, which is subject to change.\n\nConference Call\n\nThe Company’s management will host an earnings conference call at 8:00 AM\nU.S. Eastern Time on September 1, 2026 (8:00 PM Beijing/Hong Kong/Singapore\nTime on September 1, 2026).\n\nA live and archived webcast of the conference call will be available on the\nCompany’s investor relations website\nat https://ir.nio.com/news-events/events.\n\nFor participants who wish to join the conference using dial-in numbers, please\nregister in advance using the link provided below and dial in 10 minutes prior\nto the call. Dial-in numbers, passcode and unique access PIN would be provided\nupon registering.\n\nhttps://s1.c-conf.com/diamondpass/10056744-ju876y.html \n\nA replay of the conference call will be accessible by phone at the following\nnumbers, until September 8, 2026:\n\n United States:     +1-855-883-1031   \n Hong Kong, China:  +852-800-930-639  \n Mainland, China:   +86-400-1209-216  \n Singapore:         +65-800-1013-223  \n International:     +61-7-3107-6325   \n Replay PIN:        10056744          \n                                      \n\nAbout NIO Inc.\n\nNIO Inc. is a pioneer and a leading company in the global smart electric\nvehicle market. Founded in November 2014, NIO aspires to shape a sustainable\nand brighter future with the mission of “Blue Sky Coming”. NIO envisions\nitself as a user enterprise where innovative technology meets experience\nexcellence. NIO designs, develops, manufactures and sells smart electric\nvehicles, driving innovations in next-generation core technologies. NIO\ndistinguishes itself through continuous technological breakthroughs and\ninnovations, exceptional products and services, and a community for shared\ngrowth. NIO provides premium smart electric vehicles under the NIO brand,\npremium smart electric vehicles for families through the ONVO brand, and\nhigh-end smart electric compact cars with the FIREFLY brand.\n\nSafe Harbor Statement\n\nThis press release contains statements that may constitute\n“forward-looking” statements pursuant to the “safe harbor” provisions\nof the U.S. Private Securities Litigation Reform Act of 1995. These\nforward-looking statements can be identified by terminology such as\n“will,” “expects,” “anticipates,” “aims,” “future,”\n“intends,” “plans,” “believes,” “estimates,” “likely to”\nand similar statements. NIO may also make written or oral forward-looking\nstatements in its periodic reports to the U.S. Securities and Exchange\nCommission (the “SEC”), in its annual report to shareholders, in\nannouncements, circulars or other publications made on the websites of each of\nThe Stock Exchange of Hong Kong Limited (the “SEHK”) and the Singapore\nExchange Securities Trading Limited (the “SGX-ST”), in press releases and\nother written materials and in oral statements made by its officers, directors\nor employees to third parties. Statements that are not historical facts,\nincluding statements about NIO’s beliefs, plans and expectations, are\nforward-looking statements. Forward-looking statements involve inherent risks\nand uncertainties. A number of factors could cause actual results to differ\nmaterially from those contained in any forward-looking statement, including\nbut not limited to the following: NIO’s strategies; NIO’s future business\ndevelopment, financial condition and results of operations; NIO’s ability to\ndevelop and manufacture vehicles of sufficient quality and appeal to customers\non schedule and on a large scale; its ability to ensure and expand\nmanufacturing capacities including establishing and maintaining partnerships\nwith third parties; its ability to provide convenient and comprehensive power\nsolutions to its customers; the viability, growth potential and prospects of\nthe battery swapping, BaaS, and NIO Assisted and Intelligent Driving and its\nsubscription services; its ability to improve the technologies or develop\nalternative technologies in meeting evolving market demand and industry\ndevelopment; NIO’s ability to satisfy the mandated safety standards relating\nto motor vehicles; its ability to secure supply of raw materials or other\ncomponents used in its vehicles; its ability to secure sufficient reservations\nand sales of its vehicles; its ability to control costs associated with its\noperations; its ability to build its current and future brands; general\neconomic and business conditions globally and in China and assumptions\nunderlying or related to any of the foregoing. Further information regarding\nthese and other risks is included in NIO’s filings with the SEC and the\nannouncements and filings on the websites of each of the SEHK and SGX-ST. All\ninformation provided in this press release is as of the date of this press\nrelease, and NIO does not undertake any obligation to update any\nforward-looking statement, except as required under applicable law.\n\nNon-GAAP Disclosure\n\nThe Company uses non-GAAP measures, such as adjusted cost of sales (non-GAAP),\nadjusted research and development expenses (non-GAAP), adjusted selling,\ngeneral and administrative expenses (non-GAAP), adjusted profit/(loss) from\noperations (non-GAAP), adjusted net profit/(loss) (non-GAAP), adjusted net\nprofit/(loss) attributable to ordinary shareholders (non-GAAP) and adjusted\nbasic and diluted net profit/(loss) per ordinary share/ADS (non-GAAP), in\nevaluating its operating results and for financial and operational\ndecision-making purposes. The Company defines adjusted cost of sales\n(non-GAAP), adjusted research and development expenses (non-GAAP), adjusted\nselling, general and administrative expenses (non-GAAP) and adjusted\nprofit/(loss) from operations (non-GAAP) and adjusted net profit/(loss)\n(non-GAAP) as cost of sales, research and development expenses, selling,\ngeneral and administrative expenses, profit/(loss) from operations and net\nprofit/(loss) excluding share-based compensation expenses and organizational\noptimization charges. The Company defines adjusted net profit/(loss)\nattributable to ordinary shareholders (non-GAAP) and adjusted basic and\ndiluted profit/(loss) per ordinary share/ADS (non-GAAP) as profit/(loss)\nattributable to ordinary shareholders and basic and diluted profit/(loss) per\nordinary share/ADS excluding share-based compensation expenses, organizational\noptimization charges and accretion on redeemable non-controlling interests to\nredemption value. By excluding the impact of share-based compensation\nexpenses, organizational optimization charges and accretion on redeemable\nnon-controlling interests to redemption value, which are either non-cash or\nnot indicative of the Company’s ordinary or ongoing operations due to their\nsize or nature, the Company believes that the non-GAAP financial measures help\nidentify underlying trends in its business and enhance the overall\nunderstanding of the Company’s past performance and future prospects. The\nCompany also believes that the non-GAAP financial measures allow for greater\nvisibility with respect to key metrics used by the Company’s management in\nits financial and operational decision-making.\n\nThe non-GAAP financial measures are not presented in accordance with U.S. GAAP\nand may be different from non-GAAP methods of accounting and reporting used by\nother companies. The non-GAAP financial measures have limitations as\nanalytical tools and when assessing the Company’s operating performance,\ninvestors should not consider them in isolation, or as a substitute for net\nprofit/(loss) or other consolidated statements of comprehensive profit/(loss)\ndata prepared in accordance with U.S. GAAP. The Company encourages investors\nand others to review its financial information in its entirety and not rely on\na single financial measure.\n\nThe Company mitigates these limitations by reconciling the non-GAAP financial\nmeasures to the most comparable U.S. GAAP performance measures, all of which\nshould be considered when evaluating the Company’s performance.\n\nFor more information on the non-GAAP financial measures, please see the table\ncaptioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set\nforth at the end of this press release.\n\nExchange Rate\n\nThis announcement contains translations of certain Renminbi amounts into U.S.\ndollars at specified rates solely for the convenience of the reader. Unless\notherwise stated, all translations from Renminbi to U.S. dollars were made at\nthe rate of RMB6.7851 to US$1.00, the noon buying rate in effect on June 30,\n2026 in the H.10 statistical release of the Federal Reserve Board. The Company\nmakes no representation that the Renminbi or U.S. dollars amounts referred\ncould be converted into U.S. dollars or Renminbi, as the case may be, at any\nparticular rate or at all.\n\nFor more information, please visit: http://ir.nio.com.\n\nInvestor Relations\nir@nio.com\nMedia Relations\nglobal.press@nio.com\n\nSource: NIO\n\n                                                                                                           \n NIO INC. Unaudited Condensed Consolidated Balance Sheets                                                  \n \n(All amounts in thousands)                                                                               \n                                                 As of                                                     \n                                                 December 31, 2025     June 30, 2026     June 30, 2026     \n                                                 RMB                   RMB               US$               \n ASSETS                                                                                                    \n Current assets:                                                                                           \n Cash and cash equivalents                       11,274,094            17,453,564        2,572,337         \n Restricted cash                                 14,745,975            13,510,507        1,991,202         \n Short-term investments                          19,755,809            25,634,741        3,778,093         \n Trade and notes receivables                     1,394,445             1,196,734         176,377           \n Amounts due from related parties                16,078,250            14,986,044        2,208,670         \n Inventory                                       8,530,854             11,089,742        1,634,426         \n Prepayments and other current assets            4,853,610             5,378,445         792,685           \n Total current assets                            76,633,037            89,249,777        13,153,790        \n Non-current assets:                                                                                       \n Long-term restricted cash                       88,325                68,625            10,114            \n Property, plant and equipment, net              25,827,968            25,251,240        3,721,572         \n Intangible assets, net                          29,648                173,212           25,528            \n Land use rights, net                            196,691               194,039           28,598            \n Long-term investments                           2,480,518             2,340,908         345,007           \n Right-of-use assets - operating lease           11,711,306            10,957,091        1,614,875         \n Other non-current assets                        7,433,585             7,976,448         1,175,584         \n Total non-current assets                        47,768,041            46,961,563        6,921,278         \n Total assets                                    124,401,078           136,211,340       20,075,068        \n LIABILITIES                                                                                               \n Current liabilities:                                                                                      \n Short-term borrowings                           4,691,910             8,164,766         1,203,338         \n Trade and notes payable                         53,309,727            60,385,478        8,899,718         \n Amounts due to related parties, current         625,903               502,353           74,038            \n Taxes payable                                   439,240               334,595           49,313            \n Current portion of operating lease liabilities  2,163,768             1,961,855         289,142           \n Current portion of long-term borrowings         655,971               897,712           132,306           \n Accruals and other liabilities                  16,696,044            15,371,799        2,265,523         \n Total current liabilities                       78,582,563            87,618,558        12,913,378        \n Non-current liabilities:                                                                                  \n Long-term borrowings                            8,626,272             8,550,926         1,260,251         \n Non-current operating lease liabilities         10,092,039            9,420,681         1,388,437         \n Amounts due to related parties, non-current     604,178               1,190,070         175,395           \n Deferred tax liabilities                        112,691               133,011           19,603            \n Other non-current liabilities                   13,690,778            15,029,869        2,215,128         \n Total non-current liabilities                   33,125,958            34,324,557        5,058,814         \n Total liabilities                               111,708,521           121,943,115       17,972,192        \n\n\n\n                                                                                                                                                           \n NIO INC. Unaudited Condensed Consolidated Balance Sheets                                                                                                  \n \n(All amounts in thousands)                                                                                                                               \n                                                                                                                                                           \n                                                                   As of                                                                                   \n                                                                   December 31, 2025               June 30, 2026                 June 30, 2026             \n                                                                   RMB                             RMB                           US$                       \n MEZZANINE EQUITY                                                                                                                                          \n Redeemable non-controlling interests                                      8,551,854                      10,222,746                    1,506,646          \n Total mezzanine equity                                                    8,551,854                      10,222,746                    1,506,646          \n SHAREHOLDERS’ EQUITY                                                                                                                                      \n Total NIO Inc. shareholders’ equity                                       4,159,460                      4,064,040                     598,966            \n Non-controlling interests                                                 (18,757      )                 (18,561      )                (2,736      )      \n Total shareholders’ equity                                                4,140,703                      4,045,479                     596,230            \n Total liabilities, mezzanine equity and shareholders’ equity              124,401,078                    136,211,340                   20,075,068         \n\n\n\n                                                                                                                                                                                                                             \n NIO INC. Unaudited Condensed Consolidated Statements of Comprehensive Loss                                                                                                                                                  \n \n(All amounts in thousands, except for share and per share/ADS data)                                                                                                                                                        \n                                                                                                                                                                                                                             \n                                                                                             Three Months Ended                                                                                                              \n                                                                                             June 30, 2025                    Mar 31, 2026                     June 30, 2026                    June 30, 2026                \n                                                                                             RMB                              RMB                              RMB                              US$                          \n Revenues:                                                                                                                                                                                                                   \n Vehicle sales                                                                                      16,136,114                       22,783,708                       29,058,229                       4,282,653             \n Other sales                                                                                        2,872,551                        2,748,947                        3,078,632                        453,734               \n Total revenues                                                                                     19,008,665                       25,532,655                       32,136,861                       4,736,387             \n Cost of sales:                                                                                                                                                                                                              \n Vehicle sales                                                                                      (14,473,222    )                 (18,491,467    )                 (23,673,959    )                 (3,489,110     )      \n Other sales                                                                                        (2,637,920     )                 (2,182,051     )                 (2,556,412     )                 (376,769       )      \n Total cost of sales                                                                                (17,111,142    )                 (20,673,518    )                 (26,230,371    )                 (3,865,879     )      \n Gross profit                                                                                       1,897,523                        4,859,137                        5,906,490                        870,508               \n Operating expenses:                                                                                                                                                                                                         \n Research and development                                                                           (3,007,032     )                 (1,885,024     )                 (2,144,918     )                 (316,122       )      \n Selling, general and administrative                                                                (3,964,921     )                 (3,497,306     )                 (4,424,516     )                 (652,093       )      \n Other operating income, net                                                                        165,572                          214,382                          315,725                          46,532                \n Total operating expenses                                                                           (6,806,381     )                 (5,167,948     )                 (6,253,709     )                 (921,683       )      \n Loss from operations                                                                               (4,908,858     )                 (308,811       )                 (347,219       )                 (51,175        )      \n Interest and investment income /(loss)                                                             107,529                          115,894                          (18,959        )                 (2,794         )      \n Interest expenses                                                                                  (212,748       )                 (214,405       )                 (242,389       )                 (35,724        )      \n Share of losses of equity investees                                                                (124,664       )                 (37,908        )                 (149,383       )                 (22,016        )      \n Other income, net                                                                                  186,879                          125,266                          262,774                          38,728                \n Loss before income tax expense                                                                     (4,951,862     )                 (319,964       )                 (495,176       )                 (72,981        )      \n Income tax expense                                                                                 (42,939        )                 (12,118        )                 (32,833        )                 (4,839         )      \n Net loss                                                                                           (4,994,801     )                 (332,082       )                 (528,009       )                 (77,820        )      \n Accretion on redeemable non-controlling interests to redemption value                              (148,374       )                 (164,987       )                 (192,325       )                 (28,345        )      \n Net loss/(profit) attributable to non-controlling interests                                        1,868                            1,061                            (1,257         )                 (185           )      \n Net loss attributable to ordinary shareholders of NIO Inc.                                         (5,141,307     )                 (496,008       )                 (721,591       )                 (106,350       )      \n Net loss                                                                                           (4,994,801     )                 (332,082       )                 (528,009       )                 (77,820        )      \n Other comprehensive income/(loss)                                                                                                                                                                                           \n Foreign currency translation adjustment, net of nil tax                                            184,568                          (148,948       )                 (120,909       )                 (17,820        )      \n Total other comprehensive income/(loss)                                                            184,568                          (148,948       )                 (120,909       )                 (17,820        )      \n Total comprehensive loss                                                                           (4,810,233     )                 (481,030       )                 (648,918       )                 (95,640        )      \n Accretion on redeemable non-controlling interests to redemption value                              (148,374       )                 (164,987       )                 (192,325       )                 (28,345        )      \n Net loss/(profit) attributable to non-controlling interests                                        1,868                            1,061                            (1,257         )                 (185           )      \n Comprehensive loss attributable to ordinary shareholders of NIO Inc.                               (4,956,739     )                 (644,956       )                 (842,500       )                 (124,170       )      \n Weighted average number of ordinary shares/ADSs used in computing net loss per share/ADS                                                                                                                                    \n Basic and diluted                                                                                  2,230,044,617                    2,481,180,303                    2,496,741,061                    2,496,741,061         \n Net loss per share/ADS attributable to ordinary shareholders                                                                                                                                                                \n Basic and diluted                                                                                  (2.31          )                 (0.20          )                 (0.29          )                 (0.04          )      \n\n\n\n                                                                                                                                                                                            \n NIO INC. Unaudited Condensed Consolidated Statements of Comprehensive Loss                                                                                                                 \n \n(All amounts in thousands, except for share and per share/ADS data)                                                                                                                       \n                                                                                                                                                                                            \n                                                                                             Six Months Ended                                                                               \n                                                                                             June 30, 2025                    June 30, 2026                    June 30, 2026                \n                                                                                             RMB                              RMB                              US$                          \n Revenues:                                                                                                                                                                                  \n Vehicle sales                                                                                      26,075,419                       51,841,937                       7,640,556             \n Other sales                                                                                        4,967,975                        5,827,579                        858,879               \n Total revenues                                                                                     31,043,394                       57,669,516                       8,499,435             \n Cost of sales:                                                                                                                                                                             \n Vehicle sales                                                                                      (23,398,863    )                 (42,165,426    )                 (6,214,415     )      \n Other sales                                                                                        (4,827,454     )                 (4,738,463     )                 (698,363       )      \n Total cost of sales                                                                                (28,226,317    )                 (46,903,889    )                 (6,912,778     )      \n Gross profit                                                                                       2,817,077                        10,765,627                       1,586,657             \n Operating expenses:                                                                                                                                                                        \n Research and development                                                                           (6,188,435     )                 (4,029,942     )                 (593,940       )      \n Selling, general and administrative                                                                (8,365,684     )                 (7,921,822     )                 (1,167,532     )      \n Other operating income, net                                                                        410,056                          530,107                          78,128                \n Total operating expenses                                                                           (14,144,063    )                 (11,421,657    )                 (1,683,344     )      \n Loss from operations                                                                               (11,326,986    )                 (656,030       )                 (96,687        )      \n Interest and investment income                                                                     280,745                          96,935                           14,286                \n Interest expenses                                                                                  (457,610       )                 (456,794       )                 (67,323        )      \n Loss on extinguishment of debt                                                                     (14,660        )                 -                                -                     \n Share of losses of equity investees                                                                (380,859       )                 (187,291       )                 (27,603        )      \n Other income, net                                                                                  202,106                          388,040                          57,190                \n Loss before income tax expense                                                                     (11,697,264    )                 (815,140       )                 (120,137       )      \n Income tax expense                                                                                 (47,570        )                 (44,951        )                 (6,625         )      \n Net loss                                                                                           (11,744,834    )                 (860,091       )                 (126,762       )      \n Accretion on redeemable non-controlling interests to redemption value                              (292,864       )                 (357,312       )                 (52,661        )      \n Net loss/(profit) attributable to non-controlling interests                                        5,330                            (196           )                 (29            )      \n Net loss attributable to ordinary shareholders of NIO Inc.                                         (12,032,368    )                 (1,217,599     )                 (179,452       )      \n Net loss                                                                                           (11,744,834    )                 (860,091       )                 (126,762       )      \n Other comprehensive income/(loss)                                                                                                                                                          \n Foreign currency translation adjustment, net of nil tax                                            260,479                          (269,857       )                 (39,772        )      \n Total other comprehensive income/(loss)                                                            260,479                          (269,857       )                 (39,772        )      \n Total comprehensive loss                                                                           (11,484,355    )                 (1,129,948     )                 (166,534       )      \n Accretion on redeemable non-controlling interests to redemption value                              (292,864       )                 (357,312       )                 (52,661        )      \n Net loss/(profit) attributable to non-controlling interests                                        5,330                            (196           )                 (29            )      \n Comprehensive loss attributable to ordinary shareholders of NIO Inc.                               (11,771,889    )                 (1,487,456     )                 (219,224       )      \n Weighted average number of ordinary shares/ADSs used in computing net loss per share/ADS                                                                                                   \n Basic and diluted                                                                                  2,162,319,854                    2,489,003,668                    2,489,003,668         \n Net loss per share/ADS attributable to ordinary shareholders                                                                                                                               \n Basic and diluted                                                                                  (5.56          )                 (0.49          )                 (0.07          )      \n\n\n\n                                                                                                                                                                                                                                                                                                    \n NIO INC. Unaudited Reconciliation of GAAP and Non-GAAP Results                                                                                                                                                                                                                                     \n \n(All amounts in thousands, except for share and per share/ADS data)                                                                                                                                                                                                                               \n                                                                                                                                                                                                                                                                                                    \n                                                                                                   Three Months Ended June 30, 2026                                                                                                                                                                 \n                                                                                                        GAAP Result                 Share-based compensation                 Accretion on redeemable non-controlling interests to redemption value                 Adjusted Result (Non-GAAP)       \n                                                                                                        RMB                         RMB                                      RMB                                                                                   RMB                              \n Cost of sales                                                                                          (26,230,371  )              7,487                                    —                                                                                     (26,222,884                 )    \n Research and development expenses                                                                      (2,144,918   )              161,705                                  —                                                                                     (1,983,213                  )    \n Selling, general and administrative expenses                                                           (4,424,516   )              384,881                                  —                                                                                     (4,039,635                  )    \n Total                                                                                                  (32,799,805  )              554,073                                  —                                                                                     (32,245,732                 )    \n (Loss)/profit from operations                                                                          (347,219     )              554,073                                  —                                                                                     206,854                          \n Net (loss)/profit                                                                                      (528,009     )              554,073                                  —                                                                                     26,064                           \n Net (loss)/profit attributable to ordinary shareholders of NIO Inc.                                    (721,591     )              554,073                                  192,325                                                                               24,807                           \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)         (0.29        )              0.22                                     0.08                                                                                  0.01                             \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (USD)         (0.04        )              0.03                                     0.01                                                                                  0.00                             \n\n\n\n                                                                                                   Three Months Ended March 31, 2026                                                                                                                                                                \n                                                                                                        GAAP Result                 Share-based compensation                 Accretion on redeemable non-controlling interests to redemption value                 Adjusted Result (Non-GAAP)       \n                                                                                                        RMB                         RMB                                      RMB                                                                                   RMB                              \n Cost of sales                                                                                          (20,673,518  )              10,097                                   —                                                                                     (20,663,421                 )    \n Research and development expenses                                                                      (1,885,024   )              176,844                                  —                                                                                     (1,708,180                  )    \n Selling, general and administrative expenses                                                           (3,497,306   )              188,629                                  —                                                                                     (3,308,677                  )    \n Total                                                                                                  (26,055,848  )              375,570                                  —                                                                                     (25,680,278                 )    \n (Loss)/profit from operations                                                                          (308,811     )              375,570                                  —                                                                                     66,759                           \n Net (loss)/profit                                                                                      (332,082     )              375,570                                  —                                                                                     43,488                           \n Net (loss)/profit attributable to ordinary shareholders of NIO Inc.                                    (496,008     )              375,570                                  164,987                                                                               44,549                           \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)         (0.20        )              0.15                                     0.07                                                                                  0.02                             \n\n\n\n                                                                                          Three Months Ended June 30, 2025                                                                                                                                                                                                       \n                                                                                              GAAP Result              Share-based compensation              Organizational optimization charges              Accretion on redeemable non-controlling interests to redemption value              Adjusted Result (Non-GAAP)      \n                                                                                              RMB                      RMB                                   RMB                                              RMB                                                                                RMB                             \n Cost of sales                                                                                (17,111,142  )           12,867                                54,282                                           —                                                                                  (17,043,993                 )   \n Research and development expenses                                                            (3,007,032   )           302,620                               215,532                                          —                                                                                  (2,488,880                  )   \n Selling, general and administrative expenses                                                 (3,964,921   )           110,688                               172,074                                          —                                                                                  (3,682,159                  )   \n Total                                                                                        (24,083,095  )           426,175                               441,888                                          —                                                                                  (23,215,032                 )   \n Loss from operations                                                                         (4,908,858   )           426,175                               441,888                                          —                                                                                  (4,040,795                  )   \n Net loss                                                                                     (4,994,801   )           426,175                               441,888                                          —                                                                                  (4,126,738                  )   \n Net loss attributable to ordinary shareholders of NIO Inc.                                   (5,141,307   )           426,175                               441,888                                          148,374                                                                            (4,124,870                  )   \n Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)        (2.31        )           0.19                                  0.20                                             0.07                                                                               (1.85                       )   \n\n\n\n                                                                                                   Six Months Ended June 30, 2026                                                                                                                                                                   \n                                                                                                        GAAP Result                 Share-based compensation                 Accretion on redeemable non-controlling interests to redemption value                 Adjusted Result (Non-GAAP)       \n                                                                                                        RMB                         RMB                                      RMB                                                                                   RMB                              \n Cost of sales                                                                                          (46,903,889  )              17,584                                   —                                                                                     (46,886,305                 )    \n Research and development expenses                                                                      (4,029,942   )              338,549                                  —                                                                                     (3,691,393                  )    \n Selling, general and administrative expenses                                                           (7,921,822   )              573,510                                  —                                                                                     (7,348,312                  )    \n Total                                                                                                  (58,855,653  )              929,643                                  —                                                                                     (57,926,010                 )    \n (Loss)/profit from operations                                                                          (656,030     )              929,643                                  —                                                                                     273,613                          \n Net (loss)/profit                                                                                      (860,091     )              929,643                                  —                                                                                     69,552                           \n Net (loss)/profit attributable to ordinary shareholders of NIO Inc.                                    (1,217,599   )              929,643                                  357,312                                                                               69,356                           \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)         (0.49        )              0.37                                     0.14                                                                                  0.02                             \n Net (loss)/profit per share/ADS attributable to ordinary shareholders, basic and diluted (USD)         (0.07        )              0.05                                     0.02                                                                                  0.00                             \n\n\n\n                                                                                          Six Months Ended June 30, 2025                                                                                                                                                                                                         \n                                                                                              GAAP Result              Share-based compensation              Organizational optimization charges              Accretion on redeemable non-controlling interests to redemption value              Adjusted Result (Non-GAAP)      \n                                                                                              RMB                      RMB                                   RMB                                              RMB                                                                                RMB                             \n Cost of sales                                                                                (28,226,317  )           27,868                                54,282                                           —                                                                                  (28,144,167                 )   \n Research and development expenses                                                            (6,188,435   )           569,667                               215,532                                          —                                                                                  (5,403,236                  )   \n Selling, general and administrative expenses                                                 (8,365,684   )           299,579                               172,074                                          —                                                                                  (7,894,031                  )   \n Total                                                                                        (42,780,436  )           897,114                               441,888                                          —                                                                                  (41,441,434                 )   \n Loss from operations                                                                         (11,326,986  )           897,114                               441,888                                          —                                                                                  (9,987,984                  )   \n Net loss                                                                                     (11,744,834  )           897,114                               441,888                                          —                                                                                  (10,405,832                 )   \n Net loss attributable to ordinary shareholders of NIO Inc.                                   (12,032,368  )           897,114                               441,888                                          292,864                                                                            (10,400,502                 )   \n Net loss per share/ADS attributable to ordinary shareholders, basic and diluted (RMB)        (5.56        )           0.41                                  0.20                                             0.14                                                                               (4.81                       )   \n\n(i) All translations from RMB to USD for the second quarter of 2026 were made\nat the rate of RMB6.7851 to US$1.00, the noon buying rate in effect on June\n30, 2026 in the H.10 statistical release of the Federal Reserve Board.\n(ii) Vehicle margin is the margin of new vehicle sales, which is calculated\nbased on revenues and cost of sales derived from new vehicle sales only.\n(iii) Except for gross margin and vehicle margin, where absolute changes\ninstead of percentage changes are calculated.\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-01T10:00:01.156584877Z","server_sent_at_ms":1788256801156},"received_at":"2026-09-01T10:00:01.383Z","source_url":null},"analysis":{"id":"121024","press_release_id":"132124","analysis_json":{"industry":{"label":"Automobiles","sector":"Consumer Discretionary"},"redFlags":[],"eventType":"earnings","narrative":"NIO reported Q2 2026 revenue of RMB 32.1 billion, up 69.1% year-over-year, driven by a 49.4% increase in vehicle deliveries to 107,658 units.\n\nGross margin improved significantly to 18.4% from 10.0% a year ago, helping the company achieve a positive adjusted net profit of RMB 26.1 million compared to a substantial prior-year loss.\n\nFor the third quarter, management expects deliveries between 108,000 and 111,000 vehicles with total revenues between RMB 33.3 billion and RMB 34.1 billion.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"NIO swings to non-GAAP profitability as margins double to 18.4%, driving a 69% revenue surge."},"keyFigures":{"guidance":"Q3 2026 deliveries 108,000-111,000 (up 24.0%-27.5% YoY); Revenue RMB 33.285B-34.051B (up 52.7%-56.2% YoY)","revenueYoy":"69.1%","customDimensions":{"deliveries":107658,"cash_balance":"RMB 56.7 billion","gross_margin":"18.4%","vehicle_margin":"18.5%","adjusted_operating_profit":206900000}},"quotedText":"Supported by strong sales of higher-margin models and ongoing optimization of our cost structure, we maintained healthy gross and vehicle margins despite rising cost pressures.","namedEntities":{"people":[{"name":"William Bin Li","role":"CEO"},{"name":"Stanley Yu Qu","role":"CFO"}],"products":["NIO brand","ONVO brand","FIREFLY brand","ES8","ES9","L90","L80"],"companies":[{"name":"NIO Inc.","ticker":"NIO"},{"name":"GeniTech Co., Ltd.","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"RMB32,136.9 million","context":"Q2 2026 total revenues"},{"amount":"$4,736.4 million","context":"Q2 2026 total revenues (USD)"},{"amount":"RMB29,058.2 million","context":"Q2 2026 vehicle sales"},{"amount":"$4,282.7 million","context":"Q2 2026 vehicle sales (USD)"},{"amount":"RMB5,906.5 million","context":"Q2 2026 gross profit"},{"amount":"RMB56.7 billion","context":"cash and cash equivalents as of June 30, 2026"},{"amount":"RMB493 million","context":"aggregate cash consideration for Shenji financing"},{"amount":"RMB12.25 billion","context":"post-money valuation of Shenji"}]},"materialImpact":{"score":4,"reasoning":"Revenue surged 69.1% year-over-year to RMB 32.1 billion, with gross margins nearly doubling to 18.4%. The company swung to an adjusted net profit of RMB 26.1 million from a significant loss in the prior year, indicating a substantial operational turnaround."},"tickerRelevance":{"others":[],"primary":"NIO"},"globalImportance":45,"audienceRelevance":65,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"retail-favorite","eventGravity":"earnings-turnaround","sectorWeight":"EV"}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"bullish","material_impact_score":4,"narrative":"NIO reported Q2 2026 revenue of RMB 32.1 billion, up 69.1% year-over-year, driven by a 49.4% increase in vehicle deliveries to 107,658 units.\n\nGross margin improved significantly to 18.4% from 10.0% a year ago, helping the company achieve a positive adjusted net profit of RMB 26.1 million compared to a substantial prior-year loss.\n\nFor the third quarter, management expects deliveries between 108,000 and 111,000 vehicles with total revenues between RMB 33.3 billion and RMB 34.1 billion.","key_figures":{"guidance":"Q3 2026 deliveries 108,000-111,000 (up 24.0%-27.5% YoY); Revenue RMB 33.285B-34.051B (up 52.7%-56.2% YoY)","revenueYoy":"69.1%","customDimensions":{"deliveries":107658,"cash_balance":"RMB 56.7 billion","gross_margin":"18.4%","vehicle_margin":"18.5%","adjusted_operating_profit":206900000}},"named_entities":{"people":[{"name":"William Bin Li","role":"CEO"},{"name":"Stanley Yu Qu","role":"CFO"}],"products":["NIO brand","ONVO brand","FIREFLY brand","ES8","ES9","L90","L80"],"companies":[{"name":"NIO Inc.","ticker":"NIO"},{"name":"GeniTech Co., Ltd.","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"RMB32,136.9 million","context":"Q2 2026 total revenues"},{"amount":"$4,736.4 million","context":"Q2 2026 total revenues (USD)"},{"amount":"RMB29,058.2 million","context":"Q2 2026 vehicle sales"},{"amount":"$4,282.7 million","context":"Q2 2026 vehicle sales (USD)"},{"amount":"RMB5,906.5 million","context":"Q2 2026 gross profit"},{"amount":"RMB56.7 billion","context":"cash and cash equivalents as of June 30, 2026"},{"amount":"RMB493 million","context":"aggregate cash consideration for Shenji financing"},{"amount":"RMB12.25 billion","context":"post-money valuation of Shenji"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-01T10:04:23.298Z","global_importance":45,"audience_relevance":65,"importance_components":{"tickerTier":"retail-favorite","eventGravity":"earnings-turnaround","sectorWeight":"EV"}},"durationMs":99078,"modelName":"glm-4.7"}}