NIO Reports Q2 2026 Revenue Up 69.1%, Narrowing Net Loss to RMB528 Million
NIO reported second-quarter 2026 revenue of RMB32.137 billion, up 69.1% year on year, with net loss narrowing to RMB528 million from RMB4.995 billion a year earlier. Adjusted net profit reached RMB26.1 million, marking a third consecutive quarter of profitability. Vehicle deliveries rose 49.4% to 107,658 units, and automotive gross margin improved to 18.5%.
NIO released its second-quarter 2026 financial results on the evening of September 1. Total revenue for the quarter reached RMB32.137 billion (USD4.736 billion), up 69.1% year on year and 25.9% from the first quarter of 2026. Net loss for the second quarter was RMB528 million, compared with a net loss of RMB4.995 billion in the same period of 2025 and RMB332.1 million in the first quarter of 2026. Excluding share-based compensation expenses, adjusted net profit was RMB26.1 million, marking the third consecutive quarter of profitability; in the same period of 2025, the adjusted net loss was RMB4.127 billion.
Automotive sales in the second quarter were RMB29.058 billion, up 80.1% year on year and 27.5% quarter on quarter. Vehicle deliveries totaled 107,658 units, up 49.4% year on year. Automotive gross margin was 18.5%, compared with 10.3% in the same period of 2025 and 18.8% in the first quarter of 2026. Gross profit for the quarter was RMB5.907 billion, up 211.3% year on year and 21.6% quarter on quarter. Overall gross margin was 18.4%, versus 10.0% in the same period of 2025 and 19.0% in the first quarter of 2026.
Operating loss for the second quarter was RMB347.2 million, compared with an operating loss of RMB4.909 billion in the same period of 2025 and RMB308.8 million in the first quarter of 2026. Excluding share-based compensation expenses, adjusted operating profit was RMB206.9 million, versus an adjusted operating loss of RMB4.041 billion in the same period of 2025 and an adjusted operating profit of RMB66.8 million in the first quarter of 2026. As of June 30, 2026, the company held cash and cash equivalents, restricted cash, short-term investments, and long-term time deposits totaling RMB56.7 billion.
In July and August 2026, NIO delivered 35,934 and 35,836 vehicles, respectively. As of August 31, 2026, cumulative deliveries in 2026 reached 262,893 vehicles, bringing total cumulative deliveries to 1,260,485 vehicles.
On July 9, 2026, NIO officially launched the new ES8 five-seat version and began deliveries the following day. In June and August 2026, the company's affiliate Anhui Shenji Technology Co. , Ltd. entered into two rounds of definitive agreements with domestic investors, who subscribed for newly issued shares of Shenji for a total cash consideration of RMB493 million, implying a post-investment valuation of RMB12.25 billion. Upon completion of the relevant financing transactions, NIO's subsidiary will hold a controlling interest of 59.95% in Shenji.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is positive for New Energy Vehicles, with intensity 45/100 and 80% confidence over a short term horizon.
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