NIO Inc. Reports Unaudited First Quarter 2026 Financial Results

May 21, 2026, Shanghai, China －NIO Inc. announced its unaudited financial results for the first quarter ended March 31, 2026.

· Excluding share-based compensation expenses, adjusted profit from operations (non-GAAP) was RMB 66.8 million (US$ 9.7 million) in the first quarter of 2026, achieving profitability for two consecutive quarters.

· Total revenues were RMB 25,532.7 million (US$ 3,701.5 million) in the first quarter of 2026, representing an increase of 112.2% from the first quarter of 2025.

· Gross profit was RMB 4,859.1 million (US$ 704.4 million) in the first quarter of 2026, representing an increase of 428.4% from the first quarter of 2025.

· Gross margin was 19.0% in the first quarter of 2026, setting a new four-year record.

· Vehicle margin was 18.8% in the first quarter of 2026, recording four consecutive quarters of quarter-over-quarter growth and hitting a new four-year high.

· Other sales margin was 20.6% in the first quarter of 2026, setting a new four-year record.

· Balance of cash and cash equivalents, restricted cash, short-term investment and long-term time deposits was RMB 48.2 billion (US$ 7.0 billion) as of March 31, 2026. We generated positive operating cash flows in the first quarter of 2026, delivering positive operating cash flow for three consecutive quarters.

· We expect total deliveries in the second quarter to range between 110,000 and 115,000 vehicles, with a year-over-year growth of 52.7% to 59.6%. Revenue guidance is set at RMB 32,777 million (US$ 4,752 million) to RMB 34,436 million (US$ 4,992 million), up 72.4% to 81.2% year over year.