On September 9, Guolonghui|Bank of America Securities issued a report stating that NIO's second-quarter performance met expectations, with total revenue of 17 billion yuan, a year-on-year increase of 99%, and a quarterly increase of 76%; gross margin of 9.7%, a year-on-year increase of 8.7 percentage points, and a quarterly increase of 4.8 percentage points, higher than the bank's expected 7.9%. The bank mentioned that NIO's target for the third quarter is to deliver 0.061 million to 0.063 million vehicles, a year-on-year increase of 14%, and a quarter-on-quarter increase of 6% to 8%; total revenue is expected to increase by 0.2% to 3% year-on-year, and 10% to 13% quarter-on-quarter. For the NIO brand, management expects to further optimize costs, and high gross margin products are expected to contribute more, resulting in an automotive gross margin of 15% in the fourth quarter. In addition, the bank raised its sales forecast for NIO for the years 2024 to 2026 by 1%, 2%, and 2%, and increased its gross margin forecast by 1.8, 0.3, and 0.8 percentage points. The bank raised the company's target price from HK$39 to HK$41 and reiterated a "neutral" rating.