Nio Q1 net loss narrows to 332.1 million yuan as revenue doubles
The EV maker’s loss per share of 0.2 yuan compares with 0.29 yuan a year earlier
[SINGAPORE] Chinese electric vehicle maker Nio posted a net loss of 332.1 million yuan (S$62.5 million) for its first quarter ended Mar 31, narrowing from a net loss of 6.75 billion yuan a year earlier.
Nio is listed in the US, Hong Kong and Singapore.
On a quarter-on-quarter basis, the group’s latest results marked a reversal from the net profit of 282.7 million yuan that it posted for Q4 2025.
For Q1 2026, Nio’s loss per share stood at 0.2 yuan, up from a loss of 3.29 yuan per share a year earlier, the group’s unaudited financials released on Thursday (May 21) showed.
Revenue came in at 25.5 billion yuan, an increase of 112.2 per cent from 12 billion yuan in the year-ago period.
This came as vehicle sales jumped 129.2 per cent to 22.8 billion yuan on higher delivery volumes and a higher average selling price driven by a favourable product mix.
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The EV maker delivered 83,465 vehicles in Q1, up 98.3 per cent from the 42,094 cars delivered a year earlier.
The deliveries comprised 58,543 vehicles from its premium brand Nio, 13,339 from its family-oriented brand Onvo, and 11,583 from its Firefly brand.
Vehicle margin rose to 18.8 per cent from 10.2 per cent a year earlier. Overall gross margin also improved to 19 per cent, compared with 7.6 per cent in Q1 2025.
Other sales grew 31.2 per cent to 2.75 billion yuan. This was mainly due to an increase in the sales of parts, accessories and after-sales vehicle services, the provision of power solutions, and higher revenues from car financing services.
Giving its outlook for Q2, Nio said it expects to deliver between 110,000 and 115,000 vehicles, representing an increase of 52.7 to 59.6 per cent from the previous corresponding period.
It expects Q2 revenue to be between 32.78 billion and 34.44 billion yuan, representing a year-on-year increase of 72.4 to 81.2 per cent.
William Li, founder, chairman and chief executive officer of Nio, said that the company has “entered an intensive new product launch and delivery cycle” starting in Q2.
Stanley Yu Qu, Nio’s chief financial officer, noted that the group’s other sales margin reached a four-year high of 20.6 per cent.
“Looking ahead, we will further enhance cost and operational efficiency while strengthening our sustainable business capabilities,” he added.
Shares of Nio on the Singapore Exchange closed US$0.06 or 1.1 per cent lower at US$5.61 on Thursday, before the news.
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