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NIO's financial report for the first quarter of 2025 has recently been released, revealing that the company's revenue reached RMB 12.03 billion, marking a 21.46% increase year-on-year. However, net losses surged to RMB 6.891 billion, a significant jump of 31.06% compared to the same period last year, making it the second-highest quarterly loss since the company's listing. Concurrently, the company's asset-liability ratio soared to 92.55%, setting a new record high, with shareholders' equity turning negative for the first time. Despite having cash on hand amounting to RMB 26 billion, this amount would be insufficient to cover the company's losses at the current quarterly pace throughout the year. This financial predicament has garnered widespread concern within the industry.
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