Gasgoo Munich- NIO issued a profit forecast on February 5, projecting an adjusted operating profit of 700 million to 1.2 billion yuan for the fourth quarter of 2025.
According to the filing, a preliminary review of unaudited consolidated management accounts and currently available board data points to an adjusted operating profit—defined as operating profit excluding share-based payment expenses—of roughly 700 million yuan ($100 million) to 1.2 billion yuan ($172 million) for the quarter. This marks the company's first quarterly adjusted operating profit under non-GAAP standards.
Image Source: NIO
The company attributed the profitability to a combination of factors: sustained sales growth in the fourth quarter; a favorable product mix that boosted automotive gross margins; and ongoing efforts to reduce costs and enhance efficiency.
On the sales front, NIO delivered 124,800 vehicles in the fourth quarter of 2025—a record high and a 71.7% jump from the previous year. All three brands posted quarterly records: the main NIO brand delivered 67,400 units, up 27.8%; Onvo delivered 38,300 units, surging 92.1%; and Firefly delivered 19,100 units, climbing 52.8% from the previous quarter.
For the full year 2025, NIO delivered 326,000 vehicles, another record, representing a 46.9% annual increase. The NIO brand accounted for 178,800 units, while Onvo contributed 107,800 and Firefly added 39,400.
Meanwhile, NIO founder William Li shared a milestone on Weibo: battery swaps have topped 99.9 million, with the 100 millionth swap expected to land on February 6.
NIO co-founder and President Qin Lihong echoed that sentiment, noting that the profitability rests on the deep recognition, trust, and support of users.
He emphasized that NIO is entering a third stage of development focused on high-quality growth. The company remains committed to investing in its 12 full-stack technologies and charging and swapping infrastructure. By steadily building capabilities, improving operational efficiency, and sharpening long-term competitiveness, NIO aims to deliver more positive news—grounded in persistence and steady progress.
