Li Auto Q2 revenue is 25.7 billion yuan, with a net loss of 1.7 billion yuan

Li Auto announced its unaudited financial performance for the second quarter of 2026. During the quarter, a total of 98,330 vehicles were delivered, a year-on-year decrease of 11.5%; vehicle sales amounted to 24.1 billion RMB, a year-on-year decrease of 16.7%, but a quarter-on-quarter increase of 11.8%; total revenue was 25.7 billion RMB, a year-on-year decrease of 15.1%, with a quarter-on-quarter increase of 11.7%. The vehicle gross margin was 9.4%, with a total gross profit of 2.8 billion RMB and a gross margin of 11.0%. The operating loss was 2.3 billion RMB, the net loss was 1.7 billion RMB, and the non-GAAP net loss was 1.5 billion RMB.

As of June 30, 2026, Li Auto had 495 retail stores in China, covering 160 cities, as well as 536 service centers and authorized stores, covering 220 cities, with 4,097 supercharging stations and 22,593 charging piles. In the second quarter, the company repurchased approximately 41.23 million Class A shares and 9.49 million ADSs. CEO Li Xiang stated that in the first half of the year, Li Auto remained the leading domestic brand in the market for new energy vehicles priced above 200,000 RMB in China, having completed the L series upgrade and advanced the renewal of its pure electric product line. CFO Li Tie mentioned that the gross margin improved quarter-on-quarter and is expected to further expand in the second half of the year with product mix optimization and efficiency improvements.

In recent developments, Li Auto launched the delivery of the new Li Auto L8 in June 2026 and started the delivery of the new Li Auto L6 in July, with 30,468 vehicles delivered in July alone. The company emphasized that it will continue to focus on user-oriented products, self-developed technology, and global expansion, while balancing growth and profitability.