US Stock Market Move | New energy vehicle concept stocks rose before the market opening. NIO Inc. Sponsored ADR Class A (NIO.US) rose more than 3%.

On Thursday, Chinese electric vehicle stocks rose before the market opened, with NIO Inc. Sponsored ADR Class A (NIO.US), XPeng, Inc. ADR Sponsored Class A (XPEV.US) up over 3%, and Li Auto, Inc. Sponsored ADR Class A (LI.US) up over 1%. According to the financial report, NIO Inc. Sponsored ADR Class A's gross margin for complete vehicles in the third quarter reached 14.7% and is expected to further increase to around 18% in the fourth quarter. NIO Inc. Sponsored ADR Class A's CFO Qu Yutou revealed that in the third quarter, the gross margin for ES6 and EC6 had reached or exceeded 25%; for ET5, ET5T, and the upcoming L90, the gross margin is between 15%-20%; and the third generation ES8 also reached a gross margin of 20%. Looking ahead to next year, NIO Inc. Sponsored ADR Class A has a clear product plan, with the launch of three large vehicles including the ES9, ES7, and the L80 next year. This aims to fully penetrate the market for large electric vehicles with three rows of seats and continue to increase the proportion of high-margin products to maintain their competitive advantage. According to Li Bin's estimate, by 2026, NIO Inc. Sponsored ADR Class A's comprehensive gross margin is expected to reach 20%.