Key Takeaways

  • Shares advanced more than 7% in Hong Kong trading following CEO William Li’s confirmation of 40-50% delivery expansion plans for 2026
  • The third-generation ES8 achieved 16,255 retail sales during March, maintaining its leadership position in the 400,000+ yuan category for the fourth consecutive month
  • Pre-orders opened for the ES9 SUV at 528,000 yuan — positioned 31% below the ET9 while offering comparable technology
  • Annual 2025 revenue reached 87.49 billion yuan, representing 33% growth, while net losses decreased to 15.57 billion yuan from 22.66 billion yuan
  • BOC International upgraded its US stock price target to $14 while maintaining a “Buy” recommendation

Shares of NIO advanced more than 7% during Monday’s Hong Kong trading session, extending recent gains fueled by positive operational developments. CEO William Li’s remarks delivered over the weekend at Beijing’s China EV 100 forum provided investors with renewed optimism as the week began.


NIO Stock Card
NIO Inc., NIO

During interviews on the sidelines of the forum, Li explained that NIO transitioned into its “third developmental phase” beginning in the latter half of last year. He confirmed the company’s projected delivery expansion rate of 40% to 50% throughout 2026, citing Q1 results as evidence of sustained momentum.

First-quarter deliveries already demonstrated a 98.3% year-over-year surge, lending credibility to the ambitious forecast.

The third-generation ES8 delivered strong March performance, achieving 16,255 retail units. This result maintained the vehicle’s dominant position within the 400,000-yuan-and-above market category for four consecutive months.

The ES8 crossed 90,000 total deliveries within just 195 days, translating to over 3,000 units weekly on average. To provide perspective, the same model moved only 514 units during March 2025. The reversal has been dramatic.

ES9 Pre-Sales Strengthen Position

NIO opened pre-orders for its flagship ES9 SUV last Thursday, establishing a starting price of 528,000 yuan. This pricing sits 31% below the ET9 sedan, despite incorporating similar technological features.

The approach appears intentional — NIO aims to replicate the ES8’s success within an elevated price tier. Official ES9 unveiling is scheduled for late May, with customer deliveries beginning June 1.

BOC International projects steady ES9 monthly volume between 3,000 and 4,000 units. The institution forecasts combined ES8 and ES9 monthly sales maintaining levels above 10,000 units, with potential for additional expansion.

Financial Performance Supports Growth Narrative

NIO’s complete 2025 fiscal results, submitted Friday to Hong Kong authorities, displayed revenue climbing 33% year-over-year to 87.49 billion yuan. Attributable losses contracted to 15.57 billion yuan, improving from 22.66 billion yuan during 2024.

Per-share losses measured 6.85 yuan compared with 11.03 yuan in the previous year.

BOC International increased its 2026 and 2027 revenue projections for NIO by 3% to 5% based on updated sales expectations.

The institution elevated its US-listed stock price target to $14 while reaffirming its “Buy” stance. Analysts highlighted NIO’s expansion trajectory, improved cash flow visibility, and what they characterized as an operational “inflection point.”

NIO’s US-traded shares advanced an additional 2% during Monday’s pre-market session, trading at $6.63.

Xpeng climbed 1.72% while Li Auto added 0.88% in the same Hong Kong trading period. BYD gained 4.66%.