On February 5, NIO released a profit forecast, expecting to achieve its first-ever quarterly adjusted operating profit (non-GAAP) in the fourth quarter of 2025, ranging between RMB 700 million and RMB 1.2 billion. The company attributed this anticipated profitability primarily to sustained sales growth, an optimized product mix driving higher vehicle gross margins, and the successful implementation of comprehensive cost-reduction and efficiency-enhancement measures. In the fourth quarter, NIO delivered a record-high 124,800 vehicles, up 71.7% year-over-year. For the full year, deliveries reached 326,000 units, an increase of 46.9% compared to the previous year. All three of NIO’s brands set new quarterly delivery records: NIO brand delivered 67,400 vehicles, ONVO delivered 38,300, and Firefly delivered 19,100. Additionally, NIO’s battery swap service is on the verge of surpassing 100 million swaps. Founder William Li revealed that this milestone is expected to be achieved on February 6. President Qin Lihong stated that the company is now entering its third phase of development, centered on high-quality growth, and will continue investing in core technologies and charging/battery-swap infrastructure.