Nio Inc. will report unaudited second-quarter results on the first day of September, before US markets open, the company founded and led by William Li said on Thursday.
Management will hold an earnings call at 8 a.m. New York time on September 1, the same date Nio is due to publish its August deliveries.
The Shanghai-based company delivered fewer vehicles in the quarter than it had guided to three months earlier.
Nio delivered 107,658 vehicles in the three months through June, up 49.4% from a year earlier.
The company had guided on May 21 to between 110,000 and 115,000 units, an increase of about 52.7% to 59.6%. The result fell short by between 2,342 and 7,342 vehicles, or 2.1% to 6.4%.
Revenue guidance was 32.78 billion yuan to 34.44 billion yuan ($4.75 billion to $4.99 billion), representing growth of 72.4% to 81.2%.
Since that range was built on the higher delivery assumption, the reported figure will probably land at or below the bottom of the band.
Monthly Trajectory
April deliveries reached 29,356, up 22.8% year on year. May rose to a then-record 37,705, up 62.3%. June closed at 40,597, up 62.9%.
Onvo delivered 5,352 vehicles in April and 11,743 in June, more than doubling. The Nio brand grew from 19,024 to 21,908 over the same period, while Firefly rose from 4,980 to 6,946.
The Annual Target
William Li has guided to full-year growth of 40% to 50% on the 326,028 vehicles delivered in 2025, implying a range of about 456,000 to 489,000 units — the most ambitious volume goal in the group’s history.
Li has described 2026 as the start of a third growth cycle led by large SUVs.
Through July the company has delivered 227,057 vehicles: 83,465 in the first quarter, 107,658 in the second and 35,934 in July.
The figures leave between 228,943 and 261,943 to be delivered across the final five months, an average of 45,789 to 52,389 a month from August through December.
Nio‘s best month remains December 2025, at 48,135 vehicles.
The floor of the requirement is therefore slightly below a figure the group has reached once, and the ceiling sits 8.8% above it — sustained for five consecutive months.
July’s 35,934 was the third-best month of 2026 and 11.5% below June.
First-half deliveries of 191,123 represented 39.1% to 41.9% of the annual target, the highest completion rate among the major Chinese startups, most of which closed the half below 40%.
One factor works in the company’s favour.
China reinstates a 5% purchase tax on new energy vehicles from January 1, giving the industry reason to pull demand into the closing months of this year.
What the Quarter Contained
Two new models were launched during the period.
The Onvo L80, a five-seat large SUV, went on sale May 15. The ES9 executive SUV followed on May 28 and reached 10,000 deliveries within 30 days, which the company said was a record for fully electric vehicles priced above 500,000 yuan in China.
The All-New ES8 passed 120,000 cumulative deliveries on June 22, and presales of its five-seat version opened June 28. Nio rolled out an upgraded WorldModel driving system to more than 700,000 users on June 18.
Battery swaps passed 110 million cumulative during the quarter.
The Comparison Point
First-quarter results set a high bar on margins.
Gross margin reached 19% and vehicle margin 18.8%, both improved year on year and sequentially.
Net loss narrowed to 300 million yuan from 6.8 billion yuan a year earlier, though the company had posted a 300 million yuan profit in the fourth quarter of 2025. Adjusted net profit was 43.5 million yuan.
Vehicle sales totalled 22.8 billion yuan, up 129.2% year on year but down 27.9% from the prior quarter. Research and development (R&D) spending fell 40.7% to 1.9 billion yuan and selling, general and administrative costs declined 20.5% to 3.5 billion yuan.
Cash and equivalents stood at 48.2 billion yuan.
Nio targets full-year vehicle margin of 17% to 18%, quarterly R&D of 2 billion to 2.5 billion yuan, and SG&A at about 10% of revenue.
