In its research report, CICC predicted NIO-SW's (09866.HK) -0.550 (-1.669%) Short selling $65.78M; Ratio 24.660% (NIO.US) Onvo L90 to maintain its lead in the high-end large three-row SUV market as the vehicle's pre-sale price beat market expectations.NIO-SW delivered a total of 72,056 vehicles in 2Q25, meeting the previous guidance of 72,000-75,000 deliveries. Additionally, the company has initiated internal CBU (Cell Business Unit) reforms. During its 1Q earnings call, it stated that these reforms are likely to gradually reflect in the financial statements starting from 2Q. With cost efficiency being optimized phrase by phrase, CICC looks forward to the company achieving positive earnings guidance in 4Q.Related NewsBOCOMI: NIO-SW L90 Precisely Addresses Consumer Demand for 'Large Space + High Cost-effectiveness' w/ More Space Advantage than YU7The broker kept NIO-SW's rating as Outperform and the target prices for its H-shares at HKD41 and for its US shares at USD5.3.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)