Li Auto Inc. operates in the energy vehicle market in the People's Republic of China. The company designs, develops, manufactures, and sells premium smart electric vehicles.
Profile & Fundamentals
Li Auto: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Li Auto Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Li Auto Inc. operates in the energy vehicle market in the People's Republic of China. The company designs, develops, manufactures, and sells premium smart electric vehicles. Its product line comprises multi-purpose vehicles and sport utility vehicles. The company offers sales and after sales management, and technology development and corporate management services, as well as manufacturing equipment. It offers its products through online and offline channels. The company was formerly known as Leading Ideal Inc. and changed its name to Li Auto Inc. in July 2020. Li Auto Inc. was founded in 2015 and is headquartered in Beijing, the People's Republic of China.
Company profile record
Li Auto Inc
Common Stock · Consumer Discretionary · Automobile Manufacturers
Company
- Company / asset
- Li Auto Inc
- Security type
- Common Stock
- Sector
- Consumer Discretionary
- Industry
- Automobile Manufacturers
- HQ
- 🇨🇳 China
- Head office
- 11 Wenliang Street, Beijing, China, 101399
Leadership & scale
- Chief executive
- Mr. Xiang Li
- CEO year born
- 1981
- Full-time employees
- 27K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- HKD 85.8B
- P/E
- --
- Revenue (Q2 26)
- CNY 25.6B
- Profit (Q2 26)
- CNY -1.7B
- Dividend Yield
- --
- Revenue (FY 25)
- CNY 109.4B
- Shares in public float
- 1B
- Insider ownership
- 34.09%
Reporting & identifiers
- Symbol
- 2015.HKEX
- Listing
- 🇭🇰 Hong Kong | Dividend Tax: 0%
- Ticker Currency
- HKD
- Income Statement Currency
- CNY
- Balance Sheet Currency
- CNY
- Cash Flow Currency
- CNY
- EPS Currency
- CNY
- Contract Type
- SPOT
- ISIN
- KYG5479M1050
- Asset ID
- equity_7cd4c68a-b632-5182-b1d1-52e55c3a2df3
Ownership
Shares Outstanding
Latest: 2.0B | Max: 2.1B | Min: 127.5M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
51.51%
1.0B latest reported shares
Insider Ownership
34.09%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2018-01-01 | 127,500,000 |
| 2019-01-01 | 1,809,994,100 |
| 2020-01-01 | 1,809,288,300 |
| 2021-01-01 | 2,054,717,700 |
| 2022-01-01 | 2,091,167,100 |
| 2023-01-01 | 2,129,077,000 |
| 2024-01-01 | 2,133,794,000 |
| 2025-01-01 | 2,083,857,900 |
| 2026-01-01 | 2,014,198,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The headline financial results show a painful cyclical contraction that masks emerging operational stabilization. Full-year 2025 revenue contracted as brutal domestic discounting took hold, culminating in substantial first-half 2026 net losses. However, second-quarter 2026 revenue rebounded sequentially by 11.7% to 25.7 billion renminbi, while quarterly net losses narrowed by 26% to 1.70 billion renminbi. Crucially, operating cash flow turned positive at 15 million renminbi, signaling that operational cash burn has halted. Strong volume growth alongside flat revenue indicates that profitability challenges stem from temporary product mix shifts and industry price cutting rather than collapsing customer demand.
The headline financial results show a painful cyclical contraction that masks emerging operational stabilization. Full-year 2025 revenue contracted as brutal domestic discounting took hold, culminating in substantial first-half 2026 net losses. However, second-quarter 2026 revenue rebounded sequentially by 11.7% to 25.7 billion renminbi, while quarterly net losses narrowed by 26% to 1.70 billion renminbi. Crucially, operating cash flow turned positive at 15 million renminbi, signaling that operational cash burn has halted. Strong volume growth alongside flat revenue indicates that profitability challenges stem from temporary product mix shifts and industry price cutting rather than collapsing customer demand.
Revenue, Net Income, and Free Cash Flow
Latest: CNY 109.4B | Max: CNY 144.5B | Min: CNY -12.8B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: >100x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profit margins suffered severe compression from historical peaks near 20% down to a trough of 7.9% in early 2026, driven by aggressive retail discounting and promotional allowances. However, second-quarter 2026 gross margin recovered to 11.0%, with vehicle margins rising 330 basis points to 9.4%. This sequential rebound confirms that margin destruction was a cyclical product-transition event rather than permanent impairment. As proprietary silicon replaces expensive merchant processors and higher-specification refreshed models scale, vehicle gross margins are positioned to rebuild toward mid-teens levels over the medium term.
Profit margins suffered severe compression from historical peaks near 20% down to a trough of 7.9% in early 2026, driven by aggressive retail discounting and promotional allowances. However, second-quarter 2026 gross margin recovered to 11.0%, with vehicle margins rising 330 basis points to 9.4%. This sequential rebound confirms that margin destruction was a cyclical product-transition event rather than permanent impairment. As proprietary silicon replaces expensive merchant processors and higher-specification refreshed models scale, vehicle gross margins are positioned to rebuild toward mid-teens levels over the medium term.
Profitability Margins
Latest: 18.7% | Max: 22.2% | Min: <-100.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
18.7%
Gross profit / revenue
Operating Margin
-0.9%
Operating income / revenue
Net Margin
1.0%
Net income / revenue
FCF Margin
-11.7%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
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| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2018-12-31 | 0 | -222,720,639.53 | -336,851,453.49 |
| 2019-12-31 | 40,857,327.59 | -347,395,689.66 | -394,628,017.24 |
| 2020-12-31 | 1,448,179,019.91 | -23,224,655.44 | 377,429,862.17 |
| 2021-12-31 | 4,246,820,597.48 | -50,543,238.99 | 769,781,761.01 |
| 2022-12-31 | 6,563,306,666.67 | -291,625,362.32 | 326,430,000 |
| 2023-12-31 | 15,858,045,070.42 | 1,498,608,578.75 | 6,223,426,901.41 |
| 2024-12-31 | 18,592,013,642.21 | 1,033,764,478.76 | 1,055,744,916.34 |
| 2025-12-31 | 15,651,750,929.9 | 156,700,429.18 | -1,833,607,153.08 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 116.32 | Trailing four quarters |
| 2024-12-31 | 24.59 | Trailing four quarters |
| 2023-12-31 | 24.92 | Trailing four quarters |
Profitability Margins
Matching annual reporting dates. Values are percentages.
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| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2018-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2019-12-31 | -0.03 | -653.6 | -850.27 | -965.87 |
| 2020-12-31 | 16.38 | -7.08 | -1.6 | 26.06 |
| 2021-12-31 | 21.33 | -3.77 | -1.19 | 18.13 |
| 2022-12-31 | 19.41 | -8.07 | -4.44 | 4.97 |
| 2023-12-31 | 22.2 | 5.98 | 9.45 | 39.24 |
| 2024-12-31 | 20.53 | 4.86 | 5.56 | 5.68 |
| 2025-12-31 | 18.68 | -0.89 | 1 | -11.72 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-24.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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