NIO's HK shares drop most in six weeks, Nomura says Q4 guidance a miss

NIO

26/11/2025 03:31

** Chinese EV maker NIO Inc's Hong Kong shares 9866.HK drop 7% to HK$43.56, on course for biggest one-day pct fall since October 16, as investors lock in gains from about 9% climb in last two trading sessions

** Stock second-biggest pct decliner in the Hang Seng TECH Index .HSTECH, which is up 0.2%

** Co's U.S.-listed stock NIO.N fell 4.3% on Tuesday

** NIO's Q3 2025 total revenue rises 16.7% y/y, driven by 40.8% increase in deliveries, with gross margin improved to 13.9% from 10.7% in the same period last year

** NIO expects Q4 deliveries of between 120,000 and 125,000 vehicles, revenue between 32.76 bln yuan and 34.04 bln yuan ($4.62 bln-$4.81 bln)

** Nomura reaffirms "neutral" rating, saying 3Q25 margins beat while 4Q25 guidance miss

** YTD, Hong Kong stock up 26.2%, U.S.-listed shares up 26.2%, Hang Seng Automobile Index .HSAMI up 25%

($1 = 7.0835 Chinese yuan)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))