EV maker Nio posts 0.3% wider Q2 net loss of 5.1 billion yuan despite top-line growth
The quarter logged a year-on-year rise in cost of sales alongside selling, general and administrative expenses
[SINGAPORE] Chinese electric vehicle (EV) maker Nio recorded a net loss of 5.1 billion yuan (S$928.4 million) for its second quarter ended Jun 30, 2025.
This marked a 0.3 per cent deepening of its net loss from that in the year-ago period and a 25.4 per cent narrowing from Q1, the company’s financial results released on Tuesday (Sep 2) showed.
Its loss per share (LPS) for the quarter stood at 2.31 yuan, against an LPS of 2.50 yuan in Q2 of 2024 and 3.29 yuan for Q1.
The wider loss came even as its revenue for the three months rose 9 per cent from Q2 of 2024 to 19 billion yuan and climbed 57.9 per cent from Q1.
Revenue from vehicle sales stood at 16.1 billion yuan for the second quarter, an increase of 2.9 per cent from the year-ago period and 62.3 per cent from the prior quarter.
Q2 vehicle deliveries stood at 72,056, marking a year-on-year rise of 25.6 per cent and a quarter-on-quarter rise of 71.2 per cent.
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This comprised 47,132 vehicles from the company’s premium smart EV brand Nio, 17,081 from its family-oriented smart EV brand Onvo and 7,843 from its small smart high-end electric car brand Firefly.
Nio recorded higher cost of sales for the three-month period at 17.1 billion yuan – an increase of 8.6 per cent from Q2 of 2024 and 53.9 from Q1 of 2025.
The group attributed the increase from the second quarter of last year to higher delivery volumes – which was partially offset by lower material cost per vehicle – and to increased cost of sales for used cars. Meanwhile, the rise from Q1 was attributed to higher delivery volumes.
Selling, general and administrative expenses for Q2 came in at around four billion yuan, an increase of 5.5 per cent on the year and a decrease of 9.9 per cent on the quarter.
Gross profit rose 12.4 per cent on the year to 1.9 billion yuan and climbed 106.3 per cent on the quarter.
In tandem, Q2’s gross profit margin grew to 10 per cent, from 9.7 per cent in the Q2 of 2024 and 7.6 per cent in Q1 of 2025.
William Li, founder, chairman and chief executive officer of Nio, said that the “strong market reception” of Nio’s Onvo L90 and All-New ES8 reinforced the group’s sales momentum.
He expects Q3 deliveries to set a company record.
“Driven by this strong demand, we anticipate total deliveries in the third quarter to range between 87,000 and 91,000, representing a year-on-year growth of 40.7 per cent to 47.1 per cent,” he said.
Based on current market conditions, Nio expects its Q3 revenue to stand between 21.8 billion yuan and 22.9 billion yuan, an increase of between 16.8 per cent and 22.5 per cent from Q3 of 2024.
The company is listed in New York, Hong Kong and Singapore.
On the Singapore Exchange, shares of Nio ended on Tuesday 1.6 per cent or US$0.11 lower at US$6.63.
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