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Nio Inc. reports third consecutive quarter of adjusted operating profit as vehicle sales rise

Nio Inc. recorded an adjusted operating profit of 206.9 million yuan in the second quarter, marking the third consecutive quarter in which the company remained profitable on an adjusted basis. This profit was approximately 3.1 times the 66.8 million yuan recorded in the first quarter and a significant improvement from an adjusted operating loss of 4.04 billion yuan during the same period last year. Vehicle sales rose 80.1% year-on-year to 29.0582 billion yuan in the second quarter. The company attributed this growth to higher delivery volumes and an improved product mix that included higher-priced models. Nio Inc. delivered 107,658 vehicles during the quarter, which was a 49.4% increase from the previous year, though it fell slightly below the company's guidance of 110,000 to 115,000 units. The company's second-quarter revenue rose 69.1% year-on-year to 32.14 billion yuan. While revenue increased 25.9% from the first quarter, it remained about 2% below the lower end of the company's previous guidance. William Li, the founder and CEO of Nio Inc., noted that all three of the company's brands—Nio, Onvo, and Firefly—recorded growth in both sales volume and average transaction price during the second quarter. Stanley Qu, the Chief Financial Officer, stated that strong sales of higher-margin models and continued cost-structure optimization helped the company maintain healthy margins despite rising cost pressures.

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