Li Auto Inc. Earnings Recaps
Q2 2026
Aug 28, 2026
Shares dipped 0.7% following the earnings release, reflecting investor caution despite new product launches and technological upgrades, as top-line revenue and vehicle sales declined year-over-year.
Key takeaways
- Q2 total revenues were RMB 25.7 billion, down 15.1% year-over-year but up 11.7% sequentially.
- Vehicle sales contributed RMB 24.1 billion, down 16.7% year-over-year but increased 11.8% quarter-over-quarter.
- The year-over-year revenue decline was attributed to lower vehicle deliveries and a reduced average selling price.
- Li Auto highlighted significant product refreshes and technology enhancements, including the rollout of an in-house MACH M100 chip and 5C supercharging battery.
- New model launches scheduled for H2 include the Li MEGA and the flagship Li i9, expected to improve competitiveness and BEV sales mix.
Q3 2025
Nov 27, 2025
Li Auto faced operational challenges in Q3 2025 but remains focused on reverting to its entrepreneurial management model to drive innovation and product development in the next decade.
Key takeaways
- Revenue struggles due to supply chain issues and changing policies impacted deliveries.
- Li Auto will transition back to an entrepreneurial model, emphasizing deep conversations, user value, and efficiency.
- The focus will shift towards understanding customer needs in product development, with potential exploration into smart devices and AI advancements.