Financial Statements — NIO
Balance Sheet
(in billions CNY)| Metric | Q2
2025 | Q3
2021 |
|---|
| Cash & Equivalents | 7.11 | 21.59 |
| Short-term Investments | 0.50 | 21.71 |
| Accounts Receivable | 1.34 | 3.32 |
| Inventory | 8.24 | 0.26 |
| Total Current Assets | 52.51 | 54.32 |
| Property, Plant & Equipment | 3.74 | 6.03 |
| Intangible Assets | 0.03 | -- |
| Total Non-current Assets | 6.64 | 14.70 |
| Total Assets | 13.97 | 69.01 |
| Short-term Debt | 0.76 | 0.82 |
| Total Current Liabilities | 8.69 | 26.60 |
| Long-term Debt | 9.11 | 1.53 |
| Total Non-current Liabilities | 4.35 | 2.28 |
| Total Liabilities | 13.04 | 6.41 |
| Retained Earnings | (124.81) | (53.52) |
| Total Stockholder Equity | (1.21) | 24.42 |
Income Statement
(in billions CNY) (except per-share rows)| Metric | Q2
2025 | Q3
2021 |
|---|
| Total Revenue | 31.04 | 26.24 |
| Cost of Revenue | 28.23 | 21.11 |
| Gross Profit | 2.82 | 0.79 |
| Research & Development | 6.19 | 2.76 |
| Selling, General & Admin | 1.17 | 0.70 |
| Total Operating Expenses | 14.14 | 7.17 |
| Operating Income | (1.58) | (2.05) |
| Interest Expense | 0.46 | 0.56 |
| Pretax Income | (11.70) | (0.29) |
| Tax Provision | 0.05 | 0.01 |
| Net Income | (11.74) | (0.29) |
| Basic EPS | (5.56) | -- |
| Diluted EPS | (5.56) | -- |
Cash Flow Statement
(in billions CNY)| Metric | Q2
2025 | Q3
2021 |
|---|
| Operating Cash Flow | (10.93) | 0.05 |
| Capital Expenditures | 2.97 | 0.37 |
| Free Cash Flow* | (13.89) | (0.32) |
| Investing Cash Flow | 0.52 | (21.14) |
| Financing Cash Flow | (0.92) | 1.17 |
* Derived from reported values
