Nio (NIO) said Thursday it expects a Q4 adjusted profit from operations of 700 million Chinese renminbi ($100.9 million) to 1.20 billion renminbi, representing the first time it has recorded an adjusted profit from operations on a quarterly basis.

A year earlier, the company recorded an adjusted loss from operations of 5.54 billion renminbi.

Nio shares were up 9.1% in recent premarket activity.