2 1 Shi Ji Jing Ji Bao Dao·2025-09-03 06:05Core Viewpoint - NIO is entering a new growth phase with improved sales and operational efficiency, driven by the successful launch of multiple brands and models, particularly the L90 and the new ES8, which are expected to contribute significantly to the company's performance in the upcoming quarters [1][5]. Financial Performance - In Q2 2025, NIO reported a total revenue of 19.01 billion yuan, a year-on-year increase of 9.0% and a quarter-on-quarter increase of 57.9% [1] - The gross margin for Q2 was 10%, compared to 9.7% in Q2 2024 and 7.6% in Q1 2025 [1] - The net loss for Q2 was 4.995 billion yuan, narrowing by 1.0% year-on-year and 26.0% quarter-on-quarter [1] - NIO expects Q3 2025 vehicle deliveries to be between 87,000 and 91,000 units, with total revenue projected between 21.812 billion and 22.876 billion yuan, representing a year-on-year growth of approximately 16.8% to 22.5% [1] Sales and Delivery - NIO's monthly delivery volume surpassed 30,000 units for the first time in 8 months, with August deliveries reaching 10,525 units for the NIO brand and 16,434 units for the Lido brand, marking a 175% month-on-month increase [2] - The Lido L90 achieved over 10,000 deliveries in its first month, becoming the fastest model in NIO's history to reach this milestone [2] - The company plans to prioritize the delivery of the L90 and the new ES8, delaying the launch of the Lido L80 to next year to ensure capacity for these models [3] Production Capacity - NIO aims for a production target of 56,000 units across its three brands in Q4, with specific targets of 25,000 units for both the NIO and Lido brands and 6,000 units for the Firefly brand [3] - The production capacity for the Lido L90 is set at 15,000 units in October, with the ES8 also targeting 15,000 units by December [3] Cost Management and Efficiency - NIO's gross profit for Q2 was 1.898 billion yuan, a year-on-year increase of 12.4% and a quarter-on-quarter increase of 106.3% [4] - The company is focusing on cost control and efficiency improvements, with R&D expenses in Q2 amounting to 3 billion yuan, a decrease of 6.6% year-on-year [6] - NIO aims to achieve a gross margin of 16% to 17% in Q4 to reach its breakeven target [5] Strategic Focus - NIO is implementing a new operational model called Cell Business Unit (CBU) to enhance efficiency and accountability across its operations [5] - The company is committed to maintaining R&D investments of 2 billion to 2.5 billion yuan per quarter to ensure long-term competitiveness [6]