Xin Lang Cai Jing·2026-02-06 10:51Core Viewpoint - NIO is expected to report its first quarterly adjusted operating profit in Q4 2025, driven primarily by the new ES8 and the L90 model, although the latter has seen a significant decline in sales recently [1][10][11]. Group 1: Financial Performance - NIO anticipates an adjusted operating profit of 700 million to 1.2 billion yuan for Q4 2025, marking a significant milestone for the company [1]. - In January 2026, NIO delivered a total of 27,182 vehicles, representing a year-on-year increase of 96.1%, largely supported by the new ES8 [7][10]. Group 2: Sales Performance of L90 - The L90 model's sales in January 2026 were only 3,481 units, a decline of 41% year-on-year and 62% month-on-month, marking a new low for the brand [1][21]. - The L90 had previously achieved a peak monthly delivery of 11,722 units in October 2025, but its sales momentum has rapidly diminished [5][11]. Group 3: Brand Strategy and Market Position - NIO has established a brand matrix including NIO, Lado, and Firefly, targeting various consumer segments with price ranges from 200,000 to 446,800 yuan [10][11]. - The Lado brand aims to penetrate the mid-range market but has struggled to establish a strong brand identity, leading to consumer hesitation [16][21]. Group 4: Future Opportunities and Challenges - Despite current challenges, Lado has potential for recovery by leveraging NIO's brand reputation and enhancing its service offerings [26][29]. - To regain market traction, Lado must focus on product iteration, brand building, and optimizing pricing strategies while maintaining its commitment to not lowering prices [28][29].