2025年第三季度，蔚来汽车交付量达87,071辆，较2024年第三季度的61,855辆增长40.8%，较2025年第二季度的 72,056辆增长20.8%，交付规模稳步扩大。交付结构呈现多品牌协同发展态势：蔚来品牌高端智能电动汽车交付 36,928辆，乐道品牌家庭智能电动汽车交付37,656辆，萤火虫品牌智能电动高端小车交付12,487辆，各品牌在细分 市场均获得用户青睐。 亏损端大幅收窄，2025年第三季度经营亏损为人民币35.215亿元（4.947亿美元），较2024年第三季度下降 32.8%，较2025年第二季度下降28.3%；经调整经营亏损（非公认可计准则）为人民币27.761亿元（3.9亿美元）， 同比下降39.5%，环比下降31.3%。净亏损为人民币34.805亿元（4.889亿美元），同比下降31.2%，环比下降 30.3%；经调整净亏损（非公认可计准则）为人民币27.351亿元（3.842亿美元），同比下降38%，环比下降 33.7%，降本增效成果显著。 截至2025年10月31日，蔚来2025年累计交付241,618辆汽车，累计汽车交付量已达913,182辆，用户基础不断扩大。 营收方面， ...

Core Insights - NIO achieved significant milestones in Q3 2025, with vehicle deliveries reaching 87,100 units, a year-on-year increase of 40.8%, and revenue of 21.79 billion yuan, up 16.7% year-on-year [2] - The company reported a gross margin of 13.9%, the highest in nearly three years, and for the first time, positive operating cash flow and free cash flow were achieved, with cash reserves reaching 36.7 billion yuan, an increase of nearly 10 billion yuan from the previous quarter [2] - NIO's optimistic Q4 performance forecast includes expected deliveries of 120,000 to 125,000 units, representing a year-on-year growth of 65.1% to 72.0%, and revenue projections of 32.76 billion to 34.04 billion yuan, a year-on-year increase of 66.3% to 72.8% [2] Financial Performance - The gross margin for Q3 reached 13.9%, with the vehicle gross margin at 14.7%, up from 13.1% in the same period last year, indicating a significant improvement in profitability [3] - The net loss for Q3 was 3.48 billion yuan, a decrease of 31.2% from 5.06 billion yuan year-on-year, and down 30.3% from the previous quarter's loss of 4.99 billion yuan [3] - Adjusted net loss was 2.74 billion yuan, down 38.0% year-on-year and 33.7% from the previous quarter, reflecting improved operational efficiency and effective cost control [3] Strategic Outlook - NIO's growth momentum is attributed to its core smart electric vehicle technology, complementary multi-brand product portfolio, comprehensive charging and battery swap network, and a vibrant and growing user community [4] - Experts suggest that NIO's Q3 performance marks the beginning of a new development phase, with potential for maintaining a leading position in a competitive market through increased production capacity and new product launches [4]

Core Viewpoint - NIO-SW (09866.HK) achieved a record monthly delivery of 40,397 vehicles in October 2025, representing a year-on-year increase of 92.6% [1] Delivery Performance - The deliveries included 17,143 high-end smart electric vehicles under the NIO brand, 17,342 family smart electric vehicles under the Lada brand, and 5,912 high-end smart electric cars under the Firefly brand [1] - As of October 31, 2025, the cumulative vehicle delivery reached 913,182 units [1] Product Highlights - The flagship smart large space SUV, Lada L90, set a new delivery record in October 2025, maintaining strong growth with monthly deliveries exceeding 10,000 units for three consecutive months since its official launch at the end of July 2025 [1] - L90 is positioned to lead the large SUV market into the pure electric era due to its industry-leading status and exceptional product competitiveness [1]

Core Viewpoint - NIO-SW (09866) announced a record delivery of 40,397 vehicles in October 2025, representing a year-on-year increase of 92.6% [1] Delivery Performance - The deliveries included 17,143 high-end smart electric vehicles under the NIO brand, 17,342 family smart electric vehicles under the Lada brand, and 5,912 high-end small electric vehicles under the Firefly brand [1] - As of October 31, 2025, the cumulative vehicle delivery reached 913,182 units [1] Product Highlights - The flagship SUV, Lada L90, achieved a new delivery high in October 2025, maintaining strong growth since its official launch at the end of July 2025, with monthly deliveries exceeding 10,000 units for three consecutive months [1] - The L90 is positioned to lead the large SUV market into the era of pure electric vehicles due to its industry-leading status and exceptional product competitiveness [1]

Core Viewpoint - NIO-SW (09866) achieved a record monthly delivery of 40,397 vehicles in October 2025, representing a year-on-year increase of 92.6% [1] Delivery Performance - The October 2025 deliveries included 17,143 high-end smart electric vehicles under the NIO brand, 17,342 family smart electric vehicles under the Lada brand, and 5,912 high-end smart electric cars under the Firefly brand [1] - Cumulative vehicle deliveries reached 913,182 units as of October 31, 2025 [1] Product Highlights - The flagship SUV, Lada L90, set a new delivery record in October 2025, maintaining strong growth since its official launch at the end of July 2025, with monthly deliveries exceeding 10,000 units for three consecutive months [1] - The L90 is positioned to lead the large SUV market into the electric era due to its industry-leading status and exceptional product competitiveness [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 根據不同投票權架構，我們的股本包括A類普通股及C類普通股。對於提呈我們股東大會的任 何決議案，A類普通股持有人每股可投一票，而C類普通股持有人則每股可投八票，惟法律或 《香港聯合交易所有限公司證券上市規則》或我們的組織章程大綱及細則另行規定者除外。股東 及有意投資者務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存 託股代表一股A類普通股）於美國紐約證券交易所上市，股份代號為NIO。 蔚來集團 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9866） 自願公告 關於蔚來 蔚來是全球智能電動汽車市場的先驅及領跑者。成立於2014年11月，蔚來致力 於共創可持續和更美好的未來，實現「Blue Sky Coming」的使命。蔚來的願景是 成為技術與體驗領先的用戶企業。蔚來設計、開發、製造及銷售智能電動汽車， 推動新一代核心技術的創新。蔚來通過持續的技術突破及創新、極致的產 ...

Core Viewpoint - NIO-SW (09866) achieved a record monthly delivery of 34,749 vehicles in September 2025, marking a year-on-year increase of 64.1% [1] Delivery Performance - The total vehicle deliveries for Q3 2025 reached 87,071 units, representing a quarterly record and a year-on-year growth of 40.8% [1] - Cumulative vehicle deliveries as of September 30, 2025, amounted to 872,785 units [1] Product Launch - The all-new ES8, a flagship SUV, was officially launched on September 20, 2025, and user deliveries commenced immediately [1] - The new ES8 integrates ten years of technological innovation from NIO and aims to set a new benchmark for high-end, three-row electric SUVs [1]

Core Viewpoint - NIO-SW (09866) announced record vehicle deliveries in September 2025, with a total of 34,749 vehicles delivered, representing a year-on-year increase of 64.1% [1] Delivery Performance - The deliveries included 13,728 high-end smart electric vehicles under the NIO brand, 15,246 family smart electric vehicles under the Lada brand, and 5,775 high-end smart electric vehicles under the Firefly brand [1] - In the third quarter of 2025, the company delivered a total of 87,071 vehicles, marking a quarterly record with a year-on-year growth of 40.8% [1] - As of September 30, 2025, the cumulative vehicle delivery reached 872,785 units [1] Product Launch - On September 20, 2025, the company launched the all-new ES8, a flagship SUV that integrates ten years of technological innovation [1] - The new ES8 aims to set a benchmark for high-end, three-row electric SUVs, providing users with a comprehensive, safe, and user-friendly travel experience [1]

根據不同投票權架構，我們的股本包括A類普通股及C類普通股。對於提呈我們股東大會的任 何決議案，A類普通股持有人每股可投一票，而C類普通股持有人則每股可投八票，惟法律或 《香港聯合交易所有限公司證券上市規則》或我們的組織章程大綱及細則另行規定者除外。股東 及有意投資者務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存 託股代表一股A類普通股）於美國紐約證券交易所上市，股份代號為NIO。 蔚來集團 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9866） 自願公告 2025年9月及第三季度交付更新資料 本公司創下月度及季度交付量新高紀錄 於2025年10月1日 － 全球智能電動汽車市場的先驅及領跑者蔚來集團（紐交所： NIO；港交所：9866；新交所：NIO）（「蔚來」或「本公司」）宣佈其於2025年9月及 第三季度的交付結果。 本公司於2025年9月交付34,749輛汽車，創下月度新紀錄，同比增長64.1%。有 關交付包括本公司旗下蔚來品牌的高端智能電動汽車13,728輛，本公司樂道品 牌的家庭智能電動汽車15,246輛，以及本公司螢火蟲品牌的智能電動高端小車 5,775 ...

Core Viewpoint - NIO-SW (09866.HK) announced record monthly delivery results for August 2025, achieving a total of 31,305 vehicles delivered, representing a year-on-year increase of 55.2% [1] Delivery Results - In August 2025, the company delivered 31,305 vehicles, which includes: - 10,525 high-end smart electric vehicles under the NIO brand - 16,434 family smart electric vehicles under the Lada brand - 4,346 high-end smart electric cars under the Firefly brand [1] Year-to-Date Performance - From January to August 2025, the company has delivered a total of 166,472 vehicles, marking a year-on-year growth of 30.0% [1] - As of August 31, 2025, the cumulative delivery volume reached 838,036 vehicles [1]