Title: NIO Releases Q3 2025 Financial Report, Revenue Hits Record High

NIO released its Q3 2025 financial report on November 25th, reporting revenue of RMB 21.79 billion, a year-on-year increase of 16.7% and a quarter-on-quarter increase of 14.7%, setting a new record. NIO's gross margin in Q3 was 13.9%, and its vehicle gross margin was 14.7%, both reaching new highs in nearly three years. NIO delivered 87,071 new vehicles in Q3 2025, a year-on-year increase of 40.8%, with revenue reaching RMB 21.79 billion, a year-on-year increase of 16.7%. The company achieved positive operating cash flow and free cash flow, with cash reserves reaching RMB 36.65 billion.