NIO Group achieves quarterly profit for the first time, driving stock prices to soar in New York

NIO Group announced its first-ever quarterly profit in history, reaching a milestone after ten years of cash burn, boosting the company's stock on its U.S. listing. The Shanghai-based NIO disclosed on Tuesday that its quarterly operating profit as of December was 807.3 million yuan, a sharp contrast to the 6 billion yuan loss in the same period last year. These results provided much-needed affirmation for the company. Previously, the company's high capital needs and focus on the middle-class market had repeatedly raised questions, especially as demand outlook grew increasingly weak. NIO's American depositary receipts on the New York Stock Exchange rose 15% to $5.70. Before the latest financial report, the stock had fallen around 3% this year. Quarterly revenue increased by 76% to 34.65 billion yuan, surpassing analyst expectations. Adjusted net profit was 726.8 million yuan. A key indicator measuring production efficiency and pricing capability - the gross profit margin of vehicles rose from 13.1% in the same period last year to 18.1%.