蔚来美股盘前拉升5%，四季度赚超12亿

Core Viewpoint - NIO has reported significant growth in its financial performance, achieving its first quarterly profit and strong delivery numbers, indicating a positive trajectory for the company and its brands [3]. Financial Performance - In Q4 2025, NIO achieved an operating profit of 1.25 billion yuan, marking the company's first quarterly profit [3]. - Cash reserves increased significantly to 45.9 billion yuan, up nearly 10 billion yuan from the previous quarter [3]. - For Q1 2026, NIO has provided a delivery guidance of 80,000 to 83,000 vehicles, representing a year-over-year growth of 90.1% to 97.2% [3]. - Revenue guidance for Q1 2026 is set at 24.48 billion to 25.18 billion yuan, reflecting a year-over-year increase of 103.4% to 109.2% [3]. Delivery Performance - In Q4 2025, NIO delivered a total of 124,807 smart electric vehicles, a year-over-year increase of 71.7% [3]. - For the entire year of 2025, the cumulative delivery across NIO, ONVO, and FIREFLY brands reached 326,028 vehicles, up 46.9% year-over-year [3]. - The new ES8 model has shown strong delivery momentum, setting a new record for monthly deliveries of vehicles priced above 400,000 yuan [3]. - The ONVO L90 has also performed well, becoming the best-selling large pure electric SUV of 2025 [3].