Performance | Li Auto's Adjusted Profit Dropped 93% Last Quarter

SighingCashier · 2026-03-12T11:29:20+00:00

Li Auto released its financial results for the fourth quarter of last year, with net profit declining significantly and revenue and delivery volumes also decreasing substantially. Annual delivery volume dropped 18.81%, with forecasts indicating continued decline in delivery volume for the first quarter of 2026. The company is undergoing strategic adjustments to improve organizational efficiency and plans to launch the new L9 product while strengthening R&D efforts to drive future growth.

SighingCashier

2026-03-12 11:29:20

Abstract generation in progress

Li Auto (02015) announced that as of the end of December last year, net profit attributable to shareholders for the fourth quarter was 6.519 million yuan (RMB), down 99.81% year-on-year; non-GAAP net profit was 274 million yuan, down 93.21%.

During the period, total revenue was 28.775 billion yuan, a decrease of 35.01% year-on-year; total vehicle deliveries were 109,200 units, down 31.2%; gross profit margin was 17.8%, down 2.5 percentage points.

For the full year, net profit attributable to shareholders was 1.124 billion yuan, a decrease of 86%; non-GAAP net profit was 2.397 billion yuan, down 77.53%. Total revenue was 112.313 billion yuan, down 22.25%.

Li Auto’s full-year delivery volume was 406,300 units, a decline of 18.81% year-on-year.

In the first quarter of 2026, the company expects vehicle deliveries to be between 85,000 and 90,000 units, a decrease of 8.5% to 3.1% year-on-year; total revenue is expected to be between 20.4 billion and 21.6 billion yuan, a decrease of 21.3% to 16.7%.

As of the end of last year, nationwide, the company had 548 retail centers in 159 cities, operated 561 after-sales service and authorized body shop centers in 224 cities, and has deployed 3,907 Li Auto Super Charging Stations with 21,651 charging piles.

Li Auto Chairman and CEO Li Xiang stated in the earnings report that after proactive strategic adjustments in 2025, positive changes have begun to emerge since the fourth quarter in areas such as organizational efficiency, supply capacity, and sales system, including improved store efficiency, alleviation of production capacity issues for Li Auto i6, and a rebound in i8 sales.

He said that in 2026, the company will enter an important product cycle. The all-new Li Auto L9, launching in the second quarter, will see comprehensive upgrades in power systems, intelligent driving, and chassis technology, providing users with a generational experience upgrade. In the future, Li Auto will continue to improve its AI-oriented R&D system, with stable R&D investment to promote long-term product innovation and technological breakthroughs.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.