Zheng Quan Ri Bao·2025-09-03 08:40Core Viewpoint - NIO Group reported its Q2 2025 financial results, showing a total revenue of 19.009 billion yuan, a year-on-year increase of 9.0% and a quarter-on-quarter increase of 57.9%, with a net loss of 4.9948 billion yuan, which is a reduction in loss compared to the previous year and quarter [2][6]. Financial Performance - The company's Q2 automotive sales revenue reached 16.136 billion yuan, a year-on-year increase of 2.9% and a quarter-on-quarter increase of 62.3%, driven by increased delivery volumes [6]. - The overall gross margin improved to 10.0%, benefiting from the growth in used car and technology service revenues [6][7]. - The adjusted net loss for Q2 was 4.127 billion yuan, a year-on-year reduction of 9.0% and a quarter-on-quarter reduction of 34.3% [2][6]. Delivery and Sales Growth - NIO delivered 72,100 vehicles in Q2, a year-on-year increase of 25.6% and a quarter-on-quarter increase of 71.2%, with three brands contributing to sales growth [3][4]. - The company expects Q3 delivery volumes to reach a historical high of between 87,000 and 91,000 vehicles, representing a year-on-year growth of approximately 40.7% to 47.1% [2][3]. Brand Performance - The NIO brand delivered 47,100 high-end smart electric vehicles, while the Lido brand focused on family users with 17,100 deliveries, and the Firefly brand delivered 7,843 vehicles, quickly establishing itself in the high-end small electric vehicle market [3][4]. - The Lido brand's flagship model, L90, achieved a delivery of 10,600 units in its first month, marking the fastest sales record for NIO [4]. Cost Control and Future Outlook - The company aims to achieve a gross margin of 20% by the end of the year, with operational cash flow turning positive in Q4 [2][6]. - R&D expenses decreased by 6.6% year-on-year to 3.007 billion yuan, attributed to reduced costs in new product development and depreciation [7]. - NIO plans to maintain R&D investments of 2 to 2.5 billion yuan per quarter to ensure long-term competitiveness [7].