NIO reported first-quarter 2026 operating profit of 66.8 million yuan, marking a
second consecutive quarter of profitability. Revenue rose 112.2% year-on-year to
25.53 billion yuan, while gross profit increased 428.4% to 4.86 billion yuan.
Overall gross margin reached 19.0%, the highest in four years, with vehicle
margin at 18.8%, extending four straight quarters of sequential gains. Cash
reserves rose to 48.2 billion yuan, and the company generated positive operating
cash flow for a third consecutive quarter.
