Li Auto Inc. (LI) reported a net loss of RMB 2.3 billion in the first quarter of 2026, compared with net income of RMB 646.6 million, a year ago. Net loss per ADS was RMB 2.26, compared with net earnings per ADS of RMB 0.62. Non-GAAP net loss was RMB 2.1 billion, compared with non-GAAP net income of RMB 1.0 billion, last year. Non-GAAP net loss per ADS was RMB 2.09, compared with non-GAAP net earnings per ADS of RMB 0.96.
First quarter total revenues were RMB 23.0 billion, a decrease of 11.4% from last year. Vehicle sales were RMB 21.5 billion, a decrease of 12.7%. Total deliveries were 95,142 vehicles, a 2.5% year-over-year increase.
For the second quarter, the company expects: deliveries of vehicles to be between 95,000 and 100,000 vehicles, and total revenues to be between RMB 24.1 billion and RMB 25.4 billion.
Li Auto shares are trading at HK$60.45, up 0.42%.
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