NIO Raises RMB2.257 Billion for Chip Subsidiary, Retains Control

Overview

• NIO and its chip unit GeniTech (Shenji) signed definitive agreements for a RMB2.257 billion cash subscription, marking Shenji’s first external funding round and remaining subject to customary closing conditions.
• Post-transaction, a NIO subsidiary will hold 62.7% of Shenji, new investors will hold 27.3%, and 10.0% is allocated to an employee incentive plan, with NIO continuing to consolidate Shenji’s results.
• Shenji leads NIO’s intelligent-driving chip efforts, including the 5nm NX9031, which taped out in July 2024, entered the ET9 in March 2025, and began external licensing in November 2025.
• NIO did not disclose investor identities or valuation in its filing, while media reports named potential participants and suggested a valuation near RMB10 billion, which remains unconfirmed.
• The 10% employee equity pool and recent entity registrations in Hangzhou indicate a structure aimed at standalone growth and talent retention, as NIO targets full-year profitability in 2026 and prepares to report Q4 2025 results on March 10.