（来源：科创100ETF基金） 蔚来美股盘前涨超10%，现报4.89美元。预计2025年第四季度经调整经营利润为7亿元-12亿元。 （来源：科创100ETF基金） 蔚来美股盘前涨超10%，现报4.89美元。预计2025年第四季度经调整经营利润为7亿元-12亿元。 ...

Core Viewpoint - NIO has achieved its first quarterly adjusted operating profit in Q4 2025, marking a significant milestone after years of losses and heavy investments [2][4]. Group 1: Financial Performance - NIO's preliminary assessment indicates an expected operating profit of RMB 200 million to 700 million for Q4 2025, breaking the cycle of losses [2]. - The company has managed to balance volume and profitability without sacrificing margins, with an anticipated automotive gross margin of approximately 18% for Q4 2025 [3]. - The delivery of the new ES8 and the L90 has significantly boosted sales, with ES8 selling 22,258 units in December, outperforming competitors by over 5,000 units [3]. Group 2: Strategic Initiatives - NIO's restructuring and cost control measures have begun to yield positive results, allowing the company to streamline operations and reduce R&D expenses to normal levels [3][4]. - The integration of the Leidao brand into the main NIO brand has created a unified channel strategy, enhancing operational efficiency [3]. Group 3: Market Position and Challenges - NIO has joined the "million club" by delivering its one-millionth vehicle, a significant achievement in the competitive automotive industry [4]. - The company faces increasing competition from the Huawei-backed Hongmeng Smart Driving Alliance and traditional luxury brands that are ramping up their electric vehicle offerings [5]. - NIO's future profitability will depend on maintaining sales momentum, particularly for the L90 and new ES8, and effectively managing the relationship between its main brand and sub-brands [5]. Group 4: Long-term Vision - NIO's CEO, Li Bin, emphasizes that the Q4 2025 profit is just a starting point, with the company aiming for full-year profitability by 2026 [5]. - The automotive industry is characterized as a marathon with no finish line, indicating that sustained success will require ongoing innovation and operational excellence [4][6].

Core Viewpoint - NIO is expected to achieve adjusted operating profit for the first time in Q4 2025, with estimates ranging from RMB 700 million to RMB 1.2 billion, following a significant adjusted operating loss of RMB 5.5436 billion in Q4 2024 [1][3]. Group 1 - In Q4 2025, NIO anticipates an operating profit of approximately RMB 200 million to RMB 700 million based on GAAP [1]. - The company reported a total vehicle sales of 326,000 units for the year 2025, marking a year-on-year increase of 46.9% [3]. - Q4 2025 sales reached 125,000 units, representing a year-on-year growth of 71.7%, setting a new quarterly record [3]. Group 2 - The primary reasons for achieving profitability in Q4 2025 include increased vehicle sales, an advantageous product mix that improved gross margins, and ongoing cost reduction measures [3]. - NIO has launched new models such as the Lido L90 and the revamped ES8, contributing to the sales growth in Q4 2025 [3]. - The company has implemented organizational restructuring and cost-saving initiatives to enhance efficiency [3].

经济观察网2月5日，蔚来发布公告称，公司预计将在2025年第四季度实现单季度盈利。按照公司测算， 四季度经调整后的经营利润预计为1亿元至7亿元人民币，这是蔚来自成立以来第一次在单个季度实现盈 利。 据公告，业绩变化主要来自三个方面：一是四季度交付量继续增长，规模效应开始显现；二是车型结构 发生变化，高毛利车型占比提升，拉动整体毛利率改善；三是公司在研发、制造和运营环节持续压缩成 本，费用控制效果逐步释放。 作为对比，蔚来在2024年第四季度仍处于明显亏损状态，经调整经营亏损约55亿元人民币。公司同时披 露，如果按照会计准则口径计算，2025年第四季度的经营利润预计在2亿元至7亿元人民币之间。 ...

Core Viewpoint - The company expects to achieve adjusted operating profit for the first time in a single quarter by Q4 2025, indicating a significant turnaround from previous losses [1] Financial Performance - The company anticipates adjusted operating profit (non-GAAP) between approximately RMB 700 million (about USD 100 million) and RMB 1.2 billion (about USD 172 million) for Q4 2025 [1] - In contrast, the company reported an adjusted operating loss (non-GAAP) of RMB 5.5436 billion for Q4 2024 [1] - According to GAAP, the company expects to record an operating profit of approximately RMB 200 million (about USD 29 million) to RMB 700 million (about USD 100 million) for Q4 2025 [1]

按公认会计准则，预计本公司于2025年第四季度录得经营利润约人民币2亿元（约0.29亿美元）至人民 币7亿元（约1亿美元）。 本报讯 2月5日晚间，蔚来公司（NYSE：NIO；HKEX：9866；SGX：NIO）发布盈利预告。 公告称，根据对蔚来公司未经审计合并管理账目及董事会目前可得资料所作的初步评估，预计本公司于 2025年第四季度录得经调整经营利润（非公认会计准则）（界定为剔除股权激励费用后的经营利润）， 约人民币7亿元（约1亿美元）至12亿元（约1.72亿美元），此为本公司首次录得单季度经调整经营利润 （非公认会计准则）。 （文章来源：证券日报） 公告显示，蔚来公司2025年第四季度实现盈利主要是以下因素的综合影响：一是公司在2025年第四季度 销量持续增长；二是有利的产品组合推动汽车毛利率优化；三是公司持续推行全面降本增效措施。 ...

Core Viewpoint - NIO is expected to report its first-ever adjusted operating profit for Q4 2025, indicating a significant turnaround from previous losses [1][3]. Group 1: Financial Performance - NIO anticipates an adjusted operating profit (non-GAAP) ranging from approximately RMB 700 million (about USD 100 million) to RMB 1.2 billion (about USD 172 million) for Q4 2025 [1]. - In contrast, the company recorded an adjusted operating loss (non-GAAP) of RMB 5.5436 billion for Q4 2024 [3]. - According to GAAP, NIO expects to achieve an operating profit of around RMB 200 million (about USD 29 million) to RMB 700 million (about USD 100 million) for Q4 2025 [3]. Group 2: Market Reaction - Following the announcement of the profit forecast, NIO's stock price surged nearly 10% in pre-market trading [4].

Core Viewpoint - Chinese electric-vehicle maker Nio anticipates achieving its first-ever adjusted operating profit in Q4 2025, driven by increased vehicle sales and effective cost management [1] Group 1: Financial Performance - Nio expects to report an adjusted operating profit for the first time in Q4 2025 [1] - The anticipated profit is attributed to higher vehicle sales and improved cost controls [1] Group 2: Market Position - The company's growth strategy focuses on enhancing vehicle sales to support profitability [1] - Cost management initiatives are a key component of Nio's approach to achieving financial targets [1]

Core Viewpoint - NIO Group is expected to report its first quarterly adjusted operating profit in Q4 2025, with estimates ranging from 700 million to 1.2 billion yuan, a significant improvement from a loss of 5.5436 billion yuan in the same quarter last year [1]. Group 1: Financial Performance - NIO anticipates a continuous increase in sales for Q4 2025, contributing to the expected profitability [1]. - The favorable product mix is expected to enhance the automotive gross margin [1]. - Ongoing cost reduction and efficiency improvement measures are being implemented by the company [1]. Group 2: Market Reaction - NIO's stock price rose over 10% in pre-market trading following the profit forecast announcement [3]. Group 3: Delivery and Growth - In January 2026, NIO delivered 27,182 new vehicles, marking a year-on-year increase of 96.1%, with total deliveries reaching 1,024,774 vehicles to date [4]. - CEO Li Bin expressed confidence in achieving the Q4 2025 profit target, citing the delivery of 40,000 new ES8 vehicles in the previous quarter, each with stable gross margins [5]. Group 4: Strategic Focus - Li Bin outlined three key priorities for the year: ensuring the timely and high-quality delivery of three new models, increasing investment in intelligent driving capabilities, and aiming to release three significant autonomous driving versions to regain industry leadership [5]. - The company plans to systematically implement AI across all business processes, enhancing efficiency from R&D to finance and human resources [6].

受业绩预告超市场预期影响，蔚来美股股价在盘前交易中大幅上涨，截至发稿时涨逾10%。 （文章来源：新华财经） 新华财经北京2月5日电蔚来公司（NYSE: NIO; HKEX: 9866; SGX: NIO）2月5日晚间发布盈利预告。公 告称，根据对公司未经审计合并管理账目及董事会目前可得资料所作的初步评估，预计公司于2025年第 四季度录得经调整经营利润（非公认会计准则）（界定为剔除股权激励费用后的经营利润），介乎约人 民币7亿元（约1亿美元）至12亿元（约1.72亿美元），此为公司首次录得单季度经调整经营利润（非公 认会计准则）。 主要受以下因素的综合影响：公司在2025年第四季度销量持续增长；有利的产品组合推动汽车毛利率优 化；公司持续推行全面降本增效措施。 此外，按公认会计准则，蔚来预计公司于2025年第四季度录得经营利润约人民币2亿元（约0.29亿美 元）至人民币7亿元（约1亿美元）。 ...