Key Highlights
- NIO shares surged over 7% in Hong Kong following CEO William Li’s confirmation of 40–50% annual delivery expansion goals for 2026
- The third-generation ES8 achieved 16,255 retail units in March, maintaining its leadership position in the 400,000+ yuan segment for four consecutive months
- Pre-orders opened for the ES9 flagship SUV at 528,000 yuan — priced 31% below the ET9 while featuring comparable technology
- Annual 2025 revenue surged 33% to reach 87.49 billion yuan, while net losses narrowed to 15.57 billion yuan from 22.66 billion yuan
- BOC International upgraded its NIO US stock price target to $14 while maintaining a “Buy” recommendation
Shares of NIO rallied more than 7% during Monday’s Hong Kong trading session, extending recent gains fueled by positive operational developments. CEO William Li’s remarks over the weekend at Beijing’s China EV 100 forum reinforced investor optimism as the new week began.
During interviews at the conference, Li indicated that NIO transitioned into its “third developmental phase” beginning in the latter half of last year. He confirmed delivery expansion targets of 40% to 50% for 2026, citing the company’s first-quarter results as validation of accelerating momentum.
With NIO reporting a 98.3% year-over-year delivery surge in Q1, the ambitious forecast carries substantial credibility.
The redesigned ES8 demonstrated robust performance in March, achieving 16,255 retail deliveries. This accomplishment marked the model’s fourth consecutive month leading sales in the premium 400,000-yuan-and-above category.
The ES8 crossed the 90,000-delivery milestone in merely 195 days, maintaining a weekly average exceeding 3,000 units. To put this in perspective, the same model recorded only 514 sales in March 2025. The transformation has been dramatic.
ES9 Introduction Strengthens Outlook
NIO initiated pre-orders for its premium ES9 SUV last Thursday, with pricing beginning at 528,000 yuan. This represents a 31% reduction compared to the ET9 sedan, despite sharing similar technological capabilities.
The pricing approach seems intentional — NIO aims to replicate the ES8’s success pattern within an elevated price tier. The ES9’s formal debut is scheduled for late May, with customer deliveries commencing June 1.
BOC International projects consistent ES9 monthly deliveries between 3,000 and 4,000 units. The firm anticipates combined ES8 and ES9 monthly volumes maintaining levels above 10,000 units, with potential for additional expansion.
Financial Results Support Growth Narrative
NIO’s annual 2025 financial statements, submitted Friday in Hong Kong, revealed revenue climbing 33% year-over-year to 87.49 billion yuan. The attributable loss contracted to 15.57 billion yuan, compared to 22.66 billion yuan in 2024.
Loss per share improved to 6.85 yuan versus the previous year’s 11.03 yuan.
BOC International increased its 2026 and 2027 revenue projections for NIO by 3% to 5% based on updated sales expectations.
The investment bank elevated its US stock price target to $14, preserving its “Buy” recommendation. The upgrade reflects NIO’s growth trajectory, improved visibility on cash flow generation, and what analysts characterized as an operational “inflection point.”
NIO’s US-traded shares advanced an additional 2% during Monday’s pre-market session, reaching $6.63.
Xpeng climbed 1.72% while Li Auto advanced 0.88% during the same Hong Kong trading period. BYD gained 4.66%.
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