Shares of the electric vehicle manufacturer experienced a significant surge in Hong Kong on Wednesday, buoyed by the company’s transition to profitability in the fourth quarter. The turnaround was driven by a marked increase in vehicle deliveries and enhanced profit margins.
For the fourth quarter of 2025, the company reported a net profit of 282.7 million yuan (approximately $41 million), a stark contrast to a net loss of 7.11 billion yuan during the same period last year. Following the announcement, shares soared by as much as 19.7%, reaching HK$45.66 as trading continued.
The company’s fourth-quarter revenue showcased a robust growth trajectory, rising 75.9% year-on-year to 34.65 billion yuan. Sales of vehicles also saw a remarkable 80.9% increase, amounting to 31.61 billion yuan. Overall vehicle deliveries rose sharply, climbing 71.7% from the previous year to total 124,807 units.
Improved profitability was also reflected in vehicle margins, which increased to 18.1% from 13.1% a year earlier. The overall gross margin advanced to 17.5%, attributed to effective cost management strategies and stronger sales performance.
For the entire fiscal year, the company reported impressive figures, with total revenue reaching 87.49 billion yuan and total vehicle deliveries at 326,028 units. Looking ahead, the company projects deliveries for the first quarter of 2026 to fall between 80,000 and 83,000 vehicles, signaling continued growth momentum.
