Ge Long Hui A P P·2025-11-25 11:04Core Viewpoint - NIO Inc. reported strong Q3 2025 results, showcasing significant growth in deliveries, revenue, and profitability metrics, leading to a notable pre-market stock surge [1] Financial Performance - Q3 deliveries reached 87,071 units, marking a year-over-year increase of 40.8% and a quarter-over-quarter increase of 20.8%, achieving a historical high [1] - Revenue for Q3 was 21.79 billion yuan, reflecting a year-over-year growth of 16.7% and a quarter-over-quarter growth of 14.7%, also a historical high [1] - Comprehensive gross margin improved to 13.9%, the highest in nearly three years, indicating enhanced profitability in products and services [1] - Vehicle gross margin reached 14.7%, the highest in nearly three years [1] - Cash reserves increased to 36.7 billion yuan, a significant quarter-over-quarter growth of nearly 10 billion yuan, with positive operating cash flow and free cash flow [1] Future Outlook - For Q4, the delivery guidance is set between 120,000 to 125,000 units, representing a year-over-year growth of 65.1% to 72.0%, which would be a historical high [1] - Revenue guidance for Q4 is projected between 32.76 billion to 34.04 billion yuan, indicating a year-over-year growth of 66.3% to 72.8%, also a historical high [1]