In its research report, JPMorgan expresses a positive outlook on NIO's future profitability. The bank anticipates that NIO will achieve profitability in the fourth quarter of this year and will reach a pivotal turning point in terms of sustained profitability by 2026. The institution highlights that the current dip in NIO's stock price offers a favorable investment opportunity. Moreover, it notes that the performance of NIO's new models at the Beijing Auto Show in April 2026 will serve as a crucial observation point. Consequently, JPMorgan has assigned NIO an "Overweight" rating. Additionally, several key operational metrics of NIO reached all-time highs in the third quarter of 2025. The company's management holds a bullish view on its fourth-quarter performance, projecting revenue to range between RMB 32.76 billion and RMB 34.04 billion, representing a year-on-year increase of 66.3% to 72.8%. Furthermore, the estimated delivery volume is expected to be between 120,000 and 125,000 units, marking a year-on-year increase of 65.1% to 72.0%, which is projected to set a new record high.