CICC released a research report on the 1Q25 results of NIO-SW (09866.HK) +0.450 (+1.633%) Short selling $22.52M; Ratio 13.765% (NIO.US) , which met market's and the broker's expectations. The management provided guidance for 2Q25 vehicle deliveries ranging from 72,000 to 75,000 units. There was anticipation for more new models to be delivered this year, including the ET9, the first model of Firefly, and two new SUVs from Onvo. CICC believed these will contribute incrementally, while the group's structural reforms are gradually yielding results.Related NewsCMBI Cuts NIO (NIO.US) TP to US$4, Keeps Rating at HoldNIO aims to achieve positive FCF for the entire year. CICC maintained its Outperform rating but axed the target prices for both HK and US stocks of NIO by 15% to HKD41 and USD5.3, respectively. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-09 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)