NIO

9866 · HKEX · HKD

$26.96+1.81%+$0.48

Close · October 2, 2026

At a glance

Revenue growth: +33.10%; 2025 vs 2024
Net margin: -17.8%; 2024: -34.5%

Financial data

Amounts in millions of CNY; per-share values in CNY; shares in millions.

Balance sheet · Quarterly
Item	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Total assets	136,211	126,195	124,401	112,044	100,046	98,164	107,605	103,989	100,516	104,186	117,383	102,466
Current assets	89,250	79,340	76,633	63,059	52,508	49,790	61,886	60,056	55,512	59,009	70,380	60,669
Cash and equivalents	17,454	8,828	11,274	9,271	7,111	8,075	19,329	23,792	24,652	23,822	32,935	24,085
Short-term investments	25,635	22,938	20,055	14,835	10,938	11,647	14,514	13,358	11,616	14,604	17,051	14,870
Receivables	16,183	17,536	17,473	14,553	12,995	10,577	9,379	7,026	5,636	5,293	6,728	7,320
Inventory	11,090	8,580	8,531	7,478	8,243	8,696	7,087	6,819	4,886	6,210	5,278	7,063
Net property, plant and equipment	36,208	36,734	43,236	38,810	42,282	40,153	38,754	36,508	36,081	35,934	36,307	30,368
Other intangible assets	367	225	226	228	229	230	232	233	234	236	237	238
Long-term investments	2,341	2,450	2,481	2,148	2,711	2,879	3,126	3,732	5,376	5,455	5,487	5,532
Current liabilities	87,619	78,604	78,583	67,320	62,282	59,492	62,311	57,473	50,154	51,112	57,798	55,443
Accounts payable	60,385	53,970	53,339	39,548	34,960	31,386	34,504	30,197	24,585	24,165	30,215	28,118
Long-term debt	8,551	8,389	8,626	8,721	9,113	9,287	11,441	11,282	11,615	11,384	13,043	12,156
Total debt	28,996	26,568	31,263	27,640	30,964	—	—	—	—	—	—	—
Total liabilities	121,943	111,701	111,709	99,956	93,430	90,849	94,098	87,918	79,799	79,472	87,787	82,775
Total equity (incl. minority)	14,268	14,494	12,693	12,088	6,616	7,315	13,507	16,071	20,716	24,714	29,596	19,692
Retained earnings	—	—	-128,029	—	-124,808	—	-113,068	—	—	—	-90,758	—
Minority interest	10,204	10,154	8,533	8,418	7,822	7,681	7,540	4,724	4,642	4,123	4,050	3,981