Core Viewpoint - NIO successfully completed a financing round of $1.16 billion on September 17, primarily aimed at enhancing its core technology for smart electric vehicles, developing new technology platforms and models, expanding charging and battery swap infrastructure, and optimizing its balance sheet to support long-term strategic development [1] Group 1: Financing and Use of Proceeds - The financing was conducted through a public offering of new shares [1] - The funds raised will be used for R&D in core technologies, development of next-generation technology platforms and models, and expansion of charging infrastructure [1] Group 2: Market Reaction and Analyst Ratings - NIO's stock rose over 3% to $7.27 following the financing announcement [1] - UBS upgraded NIO's investment rating from "Neutral" to "Buy" and raised the target price to $8.50, citing improved financial conditions, enhanced product competitiveness, and a rebound in market confidence [1] - The firm expects significant upside potential for the company's stock price over the next 12 months due to attractive current valuation levels [1]

9月17日，蔚来宣布完成11.6亿美元涉及合计209,090,918股公司A类普通股的发行，其中包括发行 160,823,190股美国存托股，每股美国存托股代表本公司一股A类普通股；发行20,995,000股公司A类普通 股；及根据承销商于2025年9月10日悉数行使可额外购买美国存托股的期权发行27,272,728股美国存托 股。公司目前计划将股权发行所得款项净额用于投资智能电动汽车核心技术的研发、开发旗下品牌的未 来技术平台及车型、扩大充换电网络、进一步强化其资产负债表及用于一般企业用途。 ...

Group 1 - NIO announced a $1 billion stock offering, pricing 181,818,190 Class A ordinary shares at $5.57 per American Depositary Share and HK$43.36 per Class A ordinary share [2] - The company plans to use the net proceeds for R&D in smart electric vehicle technology, developing future technology platforms and models, expanding battery swapping and charging networks, strengthening its balance sheet, and general corporate purposes [2] - This is NIO's second public financing plan in 2023, following a previous issuance in March that raised HK$3.5 billion [2] Group 2 - In Q2 2025, NIO delivered 72,056 vehicles, a year-on-year increase of 25.6% and a quarter-on-quarter increase of 71.2% [3] - The company's revenue for Q2 was RMB 19.01 billion, up 9.0% year-on-year and 57.9% quarter-on-quarter, with a gross margin of 10.0% [3] - NIO reported a net loss of RMB 4.9948 billion (approximately $697.2 million) for Q2, reducing the loss from RMB 6.75 billion in Q1 [3] Group 3 - As of the end of Q2, NIO's cash reserves were RMB 27.2 billion, with a quarter-on-quarter increase [5] - The company has set a delivery guidance of 87,000 to 91,000 vehicles for Q3, representing a year-on-year increase of 40.7% to 47.1% [5] - NIO's cash and cash equivalents were RMB 8.075 billion at the end of Q1, down from RMB 23.82 billion in Q1 of the previous year [5] Group 4 - NIO's recent models, including the ES8 and the L90, have shown strong order performance, with L90 achieving over 10,000 deliveries in its first month [7] - The production target for L90 in October is set at 15,000 units, with a total production goal of 56,000 units across all brands for Q4 [7] - The financing is seen as a strategic move to ensure supply chain capacity and support future growth rather than merely a sign of financial distress [5][7]

（编辑 郭之宸） 本报讯 （记者刘钊）9月10日，蔚来集团宣布拟公开发行不超过1.82亿股本公司A类普通股。 据了解，本次公开增发新股募集的资金将用于智能电动汽车核心技术研发、开发旗下品牌的未来技术平台及车型、扩大充 换电网络以及进一步强化公司资产负债表，增强公司资金实力，为蔚来集团长期发展提供资金支持。 ...