NIO-SW (09866) surged over 8% during trading, reaching a high of HK$55.45, marking a new high since October last year. At the time of writing, the stock price was up 7.64% to HK$54.95, with a trading volume of HK$218.9 million.

NIO Day 2025 will be officially held on September 20, when the new ES8 will be officially launched.

Guotai Securities believes that the company's multi-brand strategy is entering a harvest period: the three major brands cover the price range of 150,000-800,000 yuan, and the new ES8 and ONVO L90 have opened up the pure electric large three-row SUV market with their ultra-high cost performance (ONVO L90 exceeded 10,000 orders on its first day of launch, and the new ES8 orders have already exceeded ONVO L90's performance in the same period, with both order performances exceeding expectations). The firm is optimistic about the prospects for 2025E as NIO Inc.'s three major brands launch a new product cycle, intelligent and battery swapping advantages, and the realization of cost reduction and efficiency improvement.