Xin Lang Zheng Quan·2025-09-02 09:42Core Insights - NIO reported Q2 2025 financial results with vehicle deliveries of 72,056 units, representing a year-over-year increase of 25.6% and a quarter-over-quarter increase of 71.2% [1] - The company's revenue for Q2 reached 19.01 billion yuan, showing a year-over-year growth of 9.0% and a quarter-over-quarter growth of 57.9% [1] - NIO achieved a comprehensive gross margin of 10.0% in Q2, marking a significant improvement from previous quarters [1] Financial Performance - The gross margin for other sales turned positive, reaching a record high of 8.2% in Q2 [1] - Cash reserves stood at 27.2 billion yuan, with a quarter-over-quarter increase [1] - Research and development expenditure for Q2 was 3.01 billion yuan [1] Future Guidance - For Q3, NIO provided delivery guidance of 87,000 to 91,000 units, indicating a year-over-year growth of 40.7% to 47.1% [1] - Revenue guidance for Q3 is projected to be between 21.81 billion yuan and 22.88 billion yuan, both of which would set new historical highs [1]