Core Viewpoint - NIO delivered a total of 36,275 vehicles in November 2025, marking a year-on-year increase of 76.3% [1] Group 1: NIO Brand Performance - NIO brand delivered 18,393 vehicles, achieving growth for four consecutive months [1] - The new ES8 model reached a milestone of 20,000 vehicle deliveries [1] Group 2: Ladao Brand Performance - Ladao brand delivered 11,794 vehicles, reflecting a year-on-year growth of 132.1% [1] - The Ladao L90 model has accumulated 39,319 deliveries in four months since its launch, contributing to an average transaction price of 260,000 yuan [1]

Core Viewpoint - NIO Inc. reported a significant increase in vehicle deliveries for November 2025, showcasing strong growth in its operations [1] Group 1: Delivery Performance - In November 2025, NIO delivered a total of 36,275 vehicles, representing a year-on-year growth of 76.3% [1] - The NIO brand accounted for 18,393 vehicle deliveries, while the Ladao brand delivered 11,794 vehicles, and the Firefly brand contributed 6,088 vehicles [1] Group 2: Cumulative Deliveries - As of now, NIO has cumulatively delivered 949,457 vehicles [1] - The cumulative deliveries for the NIO brand stand at 797,712 vehicles, with the Ladao brand at 119,415 vehicles, and the Firefly brand at 32,330 vehicles [1]

Core Viewpoint - In November 2025, NIO Inc. delivered 36,275 new vehicles, representing a year-on-year increase of 76.3% [1] Group 1: Delivery Performance - NIO brand delivered 18,393 new vehicles [1] - Ladao brand delivered 11,794 new vehicles [1] - Firefly brand delivered 6,088 new vehicles [1] - Cumulative deliveries by NIO Inc. reached 949,457 vehicles to date [1]

Core Insights - In November 2025, NIO delivered 36,275 new vehicles, representing a year-on-year increase of 76.3% [2] - The deliveries included 18,393 vehicles under the NIO brand, 11,794 vehicles under the Ladao brand, and 6,088 vehicles under the Firefly brand [2] - As of now, NIO has cumulatively delivered 949,457 new vehicles, with 797,712 under the NIO brand, 119,415 under the Ladao brand, and 32,330 under the Firefly brand [2] Delivery Performance - NIO's November 2025 deliveries show a significant growth compared to the previous year, indicating strong demand and market performance [2] - The breakdown of deliveries by brand highlights the contribution of each brand to the overall performance, with the NIO brand being the largest contributor [2] - Cumulative delivery figures suggest that NIO is approaching the milestone of 1 million vehicles delivered, which could enhance its market position and investor confidence [2]

Core Insights - The company delivered 36,275 vehicles in November 2025, representing a year-on-year increase of 76.3% [1] - The deliveries included 18,393 high-end smart electric vehicles under the NIO brand, 11,794 family smart electric vehicles under the Lido brand, and 6,088 high-end small electric vehicles under the Firefly brand [1] - Year-to-date deliveries from 2025 amount to 277,893 vehicles, showing a year-on-year growth of 45.6% [1] - As of November 30, 2025, the cumulative vehicle delivery reached 949,457 units [1]

Core Viewpoint - NIO-SW (09866) reported a significant increase in vehicle deliveries for November 2025, with a total of 36,275 vehicles delivered, representing a year-on-year growth of 76.3% [1] Delivery Breakdown - The deliveries included 18,393 high-end smart electric vehicles under the NIO brand, 11,794 family smart electric vehicles under the Ladao brand, and 6,088 high-end smart electric microcars under the Firefly brand [1] - Year-to-date deliveries from 2025 amount to 277,893 vehicles, showing a year-on-year increase of 45.6% [1] Cumulative Deliveries - As of November 30, 2025, the total cumulative vehicle deliveries reached 949,457 units [1]

Core Viewpoint - NIO-SW (09866.HK) reported a significant increase in vehicle deliveries for November 2025, with a total of 36,275 vehicles delivered, representing a year-on-year growth of 76.3% [1] Delivery Performance - The deliveries included 18,393 high-end smart electric vehicles under the NIO brand, 11,794 family smart electric vehicles under the Ladao brand, and 6,088 high-end smart electric microcars under the Firefly brand [1] - Year-to-date deliveries from 2025 amounted to 277,893 vehicles, reflecting a year-on-year increase of 45.6% [1] - As of November 30, 2025, the cumulative vehicle delivery reached 949,457 units [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 根據不同投票權架構，我們的股本包括A類普通股及C類普通股。對於提呈我們股東大會的任 何決議案，A類普通股持有人每股可投一票，而C類普通股持有人則每股可投八票，惟法律或 《香港聯合交易所有限公司證券上市規則》或我們的組織章程大綱及細則另行規定者除外。股東 及有意投資者務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存 託股代表一股A類普通股）於美國紐約證券交易所上市，股份代號為NIO。 蔚來是全球智能電動汽車市場的先驅及領跑者。成立於2014年11月，蔚來致力 於共創可持續和更美好的未來，實現「Blue Sky Coming」的使命。蔚來的願景是 成為技術與體驗領先的用戶企業。蔚來設計、開發、製造及銷售智能電動汽車， 推動新一代核心技術的創新。蔚來通過持續的技術突破及創新、極致的產品及服 務，和共同成長的社區使自己脫穎而出。公司旗下的蔚來品牌專注於高端智能電 動汽車，樂道品牌聚焦於家庭智 ...

Core Viewpoint - NIO Inc. reported significant growth in vehicle deliveries for November 2025, highlighting its strong position in the smart electric vehicle market with a year-over-year increase of 76.3% [2]. Delivery Results - The company delivered a total of 36,275 vehicles in November 2025, which includes: - 18,393 vehicles from the NIO brand - 11,794 vehicles from the ONVO brand - 6,088 vehicles from the FIREFLY brand [2][5] - Year-to-date deliveries for 2025 reached 277,893 vehicles, marking a 45.6% increase compared to the previous year [5]. - Cumulative deliveries as of November 30, 2025, totaled 949,457 vehicles [2][5]. Company Overview - NIO Inc. is a leading player in the global smart electric vehicle market, founded in November 2014, with a mission to create a sustainable future [3]. - The company focuses on innovative technology and user experience, offering premium smart electric vehicles under the NIO brand, family-oriented vehicles through the ONVO brand, and high-end small electric cars under the FIREFLY brand [3].

Core Viewpoint - NIO reported significant losses despite revenue and net profit growth, lagging behind competitors in the new energy vehicle sector [3][5][8]. Financial Performance - For Q3 2025, NIO achieved revenue of 21.794 billion yuan, a year-on-year increase of 16.7%, with a net loss of 3.481 billion yuan, reducing losses by 39.5% compared to the previous year [5][7]. - Cumulative losses for the first three quarters of 2025 reached 15.225 billion yuan, nearly unchanged from the same period last year [9]. Vehicle Deliveries - NIO delivered 87,071 vehicles in Q3, marking a year-on-year increase of 40.8% and a quarter-on-quarter increase of 20.8% [7][8]. - The company expects to deliver between 120,000 and 125,000 vehicles in Q4, representing a year-on-year growth of 65.1% to 72% [8]. Cost Management - NIO reduced operating costs, with R&D expenses decreasing by 28% year-on-year, attributed to organizational optimization and changes in product development stages [7][8]. Financing and Debt - NIO completed an equity issuance of $1.16 billion in September 2023, improving cash flow and increasing cash reserves to 36.7 billion yuan by the end of Q3 [12][14]. - The company's total liabilities are on the rise, with a debt total nearing 100 billion yuan by Q3 2025 [12][14]. Competitive Landscape - Compared to peers, NIO is trailing behind companies like Li Auto, Leap Motor, and Xiaomi Auto, all of which have achieved profitability [3][9][10]. - Li Auto reported net profits of 11.809 billion yuan in 2023, while Leap Motor and Xiaomi Auto also entered profitability this year [9][10].