Could we be overreacting?

CNY was also in Feb in 2024 (as opposed to Jan in 2025), which could explain the YoY fall in Nio brand sales.

Could it be that the numbers aren’t that bad?

CNY was also in Feb in 2024 (as opposed to Jan in 2025), which could explain the YoY fall in Nio brand sales.

Could it be that the numbers aren’t that bad?