Nio Rises as Chinese EV Maker Posts First Q4 Profit

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Nio’s stock prices surged following their first-ever profit in the fourth quarter of last year, with the company’s adjusted operating profit surpassing expectations.

The company’s shares closed at HKD43.50 (USD5.56) in Hong Kong, representing a 14.1% increase, after reaching HKD45.66 at one point—its highest level since November 26. Meanwhile, Nio’s shares traded on the NASDAQ rose by 15.4% to USD5.70 yesterday, pushing its market capitalization to approximately USD14.4 billion.

In the three months ending December 31, Nio reported a net profit of CNY282.7 million (USD40.4 million), a stark turnaround from a net loss of CNY7.1 billion (USD1 billion) a year earlier. Revenue increased by 76% year-over-year to CNY34.7 billion (USD5 billion).

The company also recorded an adjusted operating profit of CNY1.3 billion (USD178.9 million). Last month, they forecasted this figure to be between USD100 million and USD172 million.

During the fourth quarter of 2025, the company delivered 124,807 smart electric vehicles, marking a 71.7% year-over-year growth. Quarterly deliveries across its Nio, Onvo, and Firefly brands all reached new records, according to Chairman and CEO William Li.

For the full year, total deliveries across the three brands hit 326,028 units, an increase of 46.9% from the previous year, highlighting the company’s growth momentum. Li also anticipates that deliveries will nearly double in the upcoming quarter to between 80,000 and 83,000 vehicles compared to the same period last year. Revenue is expected to jump between 103% and 109%, reaching roughly CNY24.5 billion to CNY25.2 billion.

Although the Chinese passenger vehicle market may experience a slight decline this year, Li noted that the demand for pure electric vehicles will continue to grow rapidly, thanks to improvements in infrastructure and technology. Nio is confident its annual sales will increase by 40% to 50%.

Additionally, Nio announced a stock incentive plan for Li, which will grant him up to 248 million restricted shares. Based on the latest stock price, this could be worth around USD1.4 billion. To fully qualify for the incentive, he must help the company’s market cap exceed USD120 billion and ensure annual net profit surpasses USD6 billion.