蔚来李斌最新发声！

Core Viewpoint - NIO is facing significant challenges as it transitions from relying on external support to internal management for recovery, with expectations of entering a growth phase in 2025 despite current losses [4][7][12]. Financial Performance - In Q1 2025, NIO's revenue increased by 21.46% year-on-year to 12.035 billion yuan, but the net loss was 6.891 billion yuan [2]. - The delivery volume for Q1 2025 was 42,100 vehicles, with guidance for Q2 2025 set between 72,000 and 75,000 vehicles [13]. Company Strategy and Management - NIO's founder and CEO, Li Bin, emphasized the need for the company to rely on its own capabilities to emerge from its current low point, marking a shift from "blood transfusion" to "blood production" [4][9]. - The company is undergoing a comprehensive internal restructuring aimed at cost control and efficiency improvement, referred to as "organizational transformation focused on user value creation" [9][15]. - NIO's second brand, Lido, has seen significant restructuring, with a reduction of over 40% in frontline staff while achieving a month-on-month sales increase of over 40% in May [9]. Historical Context - NIO's journey is divided into three phases: the first phase (2014-2021) involved product lifecycle completion and brand establishment; the second phase (2021-2024) faced operational challenges; and the third phase (2025 onwards) is expected to focus on management and operational improvements [7][8][11]. - Li Bin noted that the company has a stronger risk resistance capability now compared to 2019, when it faced severe challenges including significant losses and layoffs [4][7]. Future Outlook - Li Bin expressed confidence that the low point has passed and that the company will enter an upward trajectory starting from Q2 2025, with expected improvements in operational performance [12]. - NIO's CFO indicated that based on the delivery guidance for Q2 2025, the company's cash flow is expected to improve significantly, aiming for positive free cash flow within the year [15]. - The company has invested nearly 60 billion yuan in R&D, which is expected to support cost reduction and efficiency gains in 2025 [15][16].