Li Auto Inc. Announces First Quarter 2026 Financial Results

Li Auto Inc. reported its unaudited financial results for the first quarter ended March 31, 2026. Total deliveries reached 95,142 vehicles, a 2.5% year-over-year increase. Vehicle sales were RMB21.5 billion, a decrease of 12.7% compared to Q1 2025. Total revenues were RMB23.0 billion, down 11.4% year-over-year. Gross profit decreased by 66.0% to RMB1.8 billion, with a gross margin of 7.9%. The company reported an operating loss of RMB3.0 billion and a net loss of RMB2.3 billion. For the second quarter of 2026, Li Auto expects deliveries between 95,000 and 100,000 vehicles and total revenues between RMB24.1 billion and RMB25.4 billion. The company also announced the launch of the all-new Li L9 in May 2026 and has repurchased approximately $139.7 million of shares under its $1.0 billion share repurchase program. The company completed the put right offer for its Convertible Senior Notes due 2028, with $145.7 million remaining outstanding.