CLSA says NIO posted second straight quarterly non-GAAP profit, reports Q1
non-GAAP net profit of CNY45 mln in line; raises 2026 revenue forecast 18.9% to
CNY133.48 bln and net profit forecast 104.1% to CNY277 mln, sees 2026 vehicle
deliveries at 441,000. CLSA lifts U.S. ADR target price to $7 from $6, maintains
outperform rating; initiates Hong Kong shares at outperform with HK$55 target.
