Nio released its financial report for the third quarter of 2025, delivering 87,071 units, a year-on-year increase of 40.8%, revenue of 21.79 billion yuan, a year-on-year increase of 16.7%, a quarter-on-quarter increase of 14.7%, a comprehensive gross profit margin of 13.9%, and a vehicle gross profit margin of 14.7%, all of which are in the past three years. A new high. The cash reserve was 36.7 billion yuan, achieving positive operating cash flow and free cash flow. Net loss decreased by nearly 30%. The delivery guidance for the fourth quarter is 120,000 to 125,000 vehicles, and the revenue guidance is 32.76 billion to 34.04 billion yuan, a year-on-year increase of 66% to 73%, both hitting record highs. Chairman Li Bin said that the company is confident of achieving profitability in the fourth quarter of 2025, mainly relying on high-margin models and strong orders.