Li Auto Inc. (LI) balance sheet

NASDAQ · Consumer Cyclical · Auto - Manufacturers · 27,048 employees · CEO Xiang Li

Price: $11.03 -0.99%
Market cap: $11.2B
Enterprise value: CN¥61.1B
Last report: Q2 '26 filed 2026-08-26
Next report: 2026-11-25

At the end of Q2 '26 Li Auto Inc. (LI) held CN¥85.6B in cash and short-term investments against CN¥30B of debt incl. leases. Total assets CN¥141B, total liabilities CN¥74.7B, shareholders' equity CN¥66B.

Balance sheet

Balance sheet	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Assets
Cash & equivalents	CN¥73B	CN¥91.3B	CN¥85.1B	CN¥80.8B	CN¥77.6B	CN¥65.9B	CN¥53.2B	CN¥49.8B	CN¥51.1B	CN¥56.7B	CN¥42.7B	CN¥40.1B
Short-term investments	CN¥14.4B	CN¥11.9B	CN¥13.8B	CN¥16.5B	CN¥28.9B	CN¥46.9B	CN¥57.4B	CN¥57.1B	CN¥47.6B	CN¥44.3B	CN¥50.1B	CN¥45.5B
Receivables	CN¥86.8M	CN¥144M	CN¥77.3M	CN¥158M	CN¥220M	CN¥135M	CN¥68.5M	CN¥85.7M	CN¥101M	CN¥120M	CN¥129M	CN¥207M
Inventory	CN¥6.03B	CN¥6.87B	CN¥12.2B	CN¥8.31B	CN¥8.18B	CN¥8.19B	CN¥10.1B	CN¥11.7B	CN¥8.23B	CN¥8.75B	CN¥7.01B	CN¥8.34B
Other current assets	CN¥4.2B	CN¥4.25B	CN¥4.53B	CN¥4.1B	CN¥4.81B	CN¥5.18B	CN¥5.33B	CN¥4.8B	CN¥5.74B	CN¥5.39B	CN¥5.26B	CN¥4.32B
Current assets	CN¥97.7B	CN¥115B	CN¥116B	CN¥110B	CN¥120B	CN¥126B	CN¥126B	CN¥124B	CN¥113B	CN¥115B	CN¥105B	CN¥98.5B
Property, plant & equipment (net)	CN¥18.1B	CN¥20.4B	CN¥27.2B	CN¥28.3B	CN¥28.6B	CN¥29.5B	CN¥29B	CN¥31.1B	CN¥33.5B	CN¥30.4B	CN¥30.3B	CN¥30.8B
Long-term investments	CN¥1.14B	CN¥1.6B	CN¥1.55B	CN¥1.49B	CN¥1.03B	CN¥923M	CN¥822M	CN¥828M	CN¥833M	CN¥849M	CN¥2.01B	CN¥2.98B
Goodwill	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.46M	CN¥5.49M
Intangible assets	CN¥842M	CN¥2.11B	CN¥881M	CN¥892M	CN¥910M	CN¥2.44B	CN¥929M	CN¥934M	CN¥938M	CN¥2.7B	CN¥1.17B	CN¥1.17B
Deferred tax assets	CN¥0	CN¥1.99B	CN¥1.99B	CN¥2.32B	CN¥2.41B	CN¥2.54B	CN¥2.74B	CN¥2.86B	CN¥3.22B	CN¥3.33B	CN¥3.58B	CN¥3.76B
Other non-current assets	CN¥2.32B	CN¥2.8B	CN¥2.37B	CN¥2.3B	CN¥2.1B	CN¥668M	CN¥2.16B	CN¥2B	CN¥1.92B	CN¥1.76B	CN¥1.78B	CN¥3.52B
Non-current assets	CN¥22.4B	CN¥28.9B	CN¥34B	CN¥35.3B	CN¥35.1B	CN¥36B	CN¥35.7B	CN¥37.7B	CN¥40.4B	CN¥39B	CN¥38.8B	CN¥42.2B
Total assets	CN¥120B	CN¥143B	CN¥150B	CN¥145B	CN¥155B	CN¥162B	CN¥162B	CN¥161B	CN¥153B	CN¥154B	CN¥144B	CN¥141B
Liabilities
Accounts payable	CN¥40.6B	CN¥34.8B	CN¥54.6B	CN¥46.8B	CN¥52B	CN¥40B	CN¥52B	CN¥50B	CN¥37.8B	CN¥23.7B	CN¥35.8B	CN¥23.5B
Accrued expenses	CN¥8.66B	CN¥5.39B	CN¥11.2B	CN¥11.7B	CN¥12B	CN¥12.4B	CN¥12.4B	CN¥11.7B	CN¥15.2B	CN¥1.86B	CN¥11.1B	CN¥0
Short-term debt	CN¥6.31B	CN¥6.98B	CN¥7.14B	CN¥922M	CN¥942M	CN¥281M	CN¥231M	CN¥6.39B	CN¥6.32B	CN¥6.22B	CN¥6.16B	CN¥17.2B
Taxes payable	CN¥0	CN¥1.66B	CN¥0	CN¥0	CN¥0	CN¥2.43B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Deferred revenue	CN¥1.25B	CN¥1.61B	CN¥1.4B	CN¥1.73B	CN¥1.69B	CN¥1.4B	CN¥1.32B	CN¥1.41B	CN¥1.58B	CN¥1.63B	CN¥1.39B	CN¥1.21B
Other current liabilities	CN¥0	CN¥5.75B	CN¥0	CN¥0	CN¥0	CN¥3.01M	CN¥0	CN¥0	CN¥0	CN¥152M	-CN¥56M	CN¥12.7B
Current liabilities	CN¥57.7B	CN¥72.7B	CN¥75.6B	CN¥62.5B	CN¥68B	CN¥69.2B	CN¥67.5B	CN¥71.2B	CN¥62.5B	CN¥63.5B	CN¥56B	CN¥54.5B
Long-term debt	CN¥1.59B	CN¥1.75B	CN¥1.8B	CN¥7.98B	CN¥7.94B	CN¥8.15B	CN¥8.15B	CN¥1.83B	CN¥3.14B	CN¥3.3B	CN¥3.77B	CN¥6.87B
Lease obligations (non-current)	CN¥2.59B	CN¥3.68B	CN¥5.09B	CN¥5.26B	CN¥5.49B	CN¥6.38B	CN¥6.42B	CN¥6.96B	CN¥6.8B	CN¥6.61B	CN¥6.22B	CN¥5.97B
Deferred revenue (non-current)	CN¥747M	CN¥1.24B	CN¥813M	CN¥790M	CN¥739M	CN¥1.17B	CN¥683M	CN¥663M	CN¥625M	CN¥1.06B	CN¥652M	CN¥667M
Deferred tax liabilities	CN¥42.1M	CN¥201M	CN¥201M	CN¥509M	CN¥388M	CN¥865M	CN¥855M	CN¥763M	CN¥675M	CN¥692M	CN¥588M	CN¥549M
Other non-current liabilities	CN¥3.46B	CN¥3.28B	CN¥4.35B	CN¥4.8B	CN¥5.27B	CN¥5.25B	CN¥5.95B	CN¥6.23B	CN¥6.13B	CN¥5.95B	CN¥6.47B	CN¥6.19B
Non-current liabilities	CN¥8.44B	CN¥10.1B	CN¥12.3B	CN¥19.3B	CN¥19.8B	CN¥21.8B	CN¥22.1B	CN¥16.4B	CN¥17.4B	CN¥17.6B	CN¥17.7B	CN¥20.2B
Total liabilities	CN¥66.2B	CN¥82.9B	CN¥87.9B	CN¥81.8B	CN¥87.8B	CN¥91B	CN¥89.5B	CN¥87.7B	CN¥79.9B	CN¥81.2B	CN¥73.7B	CN¥74.7B
Equity
Common stock & paid-in capital	CN¥53.6B	CN¥1.45M	CN¥61.4B	CN¥1.45M	CN¥66.6B	CN¥1.45M	CN¥0	CN¥1.46M	CN¥0	CN¥1.46M	CN¥0	CN¥0
Retained earnings	CN¥0	CN¥2.44B	CN¥0	CN¥4.58B	CN¥0	CN¥10.9B	CN¥0	CN¥12.7B	CN¥0	CN¥11.2B	CN¥0	CN¥0
Accumulated other comprehensive income	CN¥0	CN¥220M	CN¥0	-CN¥272M	CN¥0	-CN¥172M	CN¥0	-CN¥415M	CN¥0	CN¥41.5M	CN¥0	CN¥0
Shareholders' equity	CN¥53.6B	CN¥60.1B	CN¥61.4B	CN¥62.9B	CN¥66.6B	CN¥70.9B	CN¥71.8B	CN¥73.1B	CN¥72.7B	CN¥72.6B	CN¥69.8B	CN¥66B
Debt
Total debt (incl. leases)	CN¥11.5B	CN¥13.5B	CN¥15.3B	CN¥15.5B	CN¥15.7B	CN¥16.3B	CN¥16.4B	CN¥16.9B	CN¥17.9B	CN¥17.8B	CN¥17.7B	CN¥30B
Net debt (debt - cash)	-CN¥61.5B	-CN¥77.8B	-CN¥69.8B	-CN¥65.3B	-CN¥61.9B	-CN¥49.6B	-CN¥36.9B	-CN¥32.9B	-CN¥33.2B	-CN¥38.9B	-CN¥25B	-CN¥10.1B

Balance sheet	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Assets
Cash & equivalents	CN¥70.2M	CN¥1.3B	CN¥8.94B	CN¥27.9B	CN¥38.5B	CN¥91.3B	CN¥65.9B	CN¥56.7B
Short-term investments	CN¥860M	CN¥2.27B	CN¥19.7B	CN¥19.7B	CN¥18B	CN¥11.9B	CN¥46.9B	CN¥44.3B
Receivables	CN¥0	CN¥8.3M	CN¥116M	CN¥121M	CN¥48.4M	CN¥144M	CN¥135M	CN¥120M
Inventory	CN¥155K	CN¥518M	CN¥1.05B	CN¥1.62B	CN¥6.8B	CN¥6.87B	CN¥8.19B	CN¥8.75B
Other current assets	CN¥1.36B	CN¥903M	CN¥1.56B	CN¥3.12B	CN¥1.94B	CN¥4.25B	CN¥5.18B	CN¥5.39B
Current assets	CN¥2.29B	CN¥5.07B	CN¥31.4B	CN¥52.4B	CN¥67B	CN¥115B	CN¥126B	CN¥115B
Property, plant & equipment (net)	CN¥2.12B	CN¥3.13B	CN¥3.76B	CN¥6.56B	CN¥14.7B	CN¥20.4B	CN¥29.5B	CN¥30.4B
Long-term investments	CN¥177M	CN¥126M	CN¥163M	CN¥156M	CN¥1.48B	CN¥1.6B	CN¥923M	CN¥849M
Goodwill	CN¥0	CN¥0	-CN¥182M	-CN¥290M	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M
Intangible assets	CN¥851M	CN¥857M	CN¥865M	CN¥1.04B	CN¥833M	CN¥864M	CN¥2.44B	CN¥2.7B
Deferred tax assets	CN¥298M	CN¥297M	CN¥59.2M	CN¥19.9M	CN¥74.8M	CN¥1.25B	CN¥2.54B	CN¥3.33B
Other non-current assets	CN¥43.3M	CN¥33.8M	CN¥321M	CN¥1.98B	CN¥2.42B	CN¥4.79B	CN¥668M	CN¥1.76B
Non-current assets	CN¥3.49B	CN¥4.45B	CN¥4.98B	CN¥9.47B	CN¥19.5B	CN¥28.9B	CN¥36B	CN¥39B
Total assets	CN¥5.78B	CN¥9.51B	CN¥36.4B	CN¥61.8B	CN¥86.5B	CN¥143B	CN¥162B	CN¥154B
Liabilities
Accounts payable	CN¥342M	CN¥634M	CN¥2.99B	CN¥7.09B	CN¥15.4B	CN¥34.8B	CN¥40B	CN¥23.7B
Accrued expenses	CN¥0	CN¥224M	CN¥267M	CN¥753M	CN¥2.22B	CN¥837M	CN¥12.4B	CN¥1.86B
Short-term debt	CN¥20M	CN¥931M	CN¥0	CN¥37M	CN¥391M	CN¥6.98B	CN¥281M	CN¥6.22B
Taxes payable	CN¥0	CN¥0	CN¥50.1M	CN¥277M	CN¥446M	CN¥1.66B	CN¥2.43B	CN¥0
Deferred revenue	CN¥1.58B	CN¥87.4M	CN¥272M	CN¥315M	CN¥580M	CN¥1.61B	CN¥1.29B	CN¥1.63B
Other current liabilities	-CN¥301M	CN¥2.26B	-CN¥193M	-CN¥571M	-CN¥1.55B	CN¥10.3B	CN¥115M	CN¥152M
Current liabilities	CN¥1.75B	CN¥4.68B	CN¥4.31B	CN¥12.1B	CN¥27.4B	CN¥72.7B	CN¥69.2B	CN¥63.5B
Long-term debt	CN¥645M	CN¥0	CN¥512M	CN¥5.96B	CN¥9.23B	CN¥1.75B	CN¥8.15B	CN¥3.3B
Lease obligations (non-current)	CN¥584M	CN¥241M	CN¥1.39B	CN¥1.37B	CN¥1.95B	CN¥3.68B	CN¥6.38B	CN¥6.61B
Deferred revenue (non-current)	CN¥0	CN¥0	CN¥0	CN¥390M	CN¥582M	CN¥1.24B	CN¥1.17B	CN¥1.06B
Deferred tax liabilities	CN¥0	CN¥0	CN¥0	CN¥154M	CN¥77.8M	CN¥201M	CN¥865M	CN¥692M
Other non-current liabilities	CN¥5.2B	CN¥11.5M	CN¥357M	CN¥802M	CN¥2.14B	CN¥3.28B	CN¥5.25B	CN¥5.95B
Non-current liabilities	CN¥6.43B	CN¥253M	CN¥2.26B	CN¥8.68B	CN¥14B	CN¥10.1B	CN¥21.8B	CN¥17.6B
Total liabilities	CN¥8.18B	CN¥4.93B	CN¥6.57B	CN¥20.8B	CN¥41.4B	CN¥82.9B	CN¥91B	CN¥81.2B
Equity
Common stock & paid-in capital	CN¥165K	CN¥165K	CN¥1.25M	CN¥1.41M	CN¥1.42M	CN¥1.45M	CN¥1.45M	CN¥1.46M
Retained earnings	-CN¥2.41B	-CN¥5.69B	-CN¥6.48B	-CN¥6.81B	-CN¥8.82B	CN¥2.44B	CN¥10.9B	CN¥11.2B
Accumulated other comprehensive income	CN¥12.7M	CN¥15.5M	-CN¥1.01B	-CN¥1.52B	-CN¥194M	CN¥220M	-CN¥172M	CN¥41.5M
Shareholders' equity	-CN¥2.4B	CN¥4.58B	CN¥29.8B	CN¥41.1B	CN¥44.9B	CN¥60.1B	CN¥70.9B	CN¥72.6B
Debt
Total debt (incl. leases)	CN¥1.36B	CN¥1.71B	CN¥2.11B	CN¥7.84B	CN¥12.3B	CN¥13.5B	CN¥16.3B	CN¥17.8B
Net debt (debt - cash)	CN¥1.29B	CN¥415M	-CN¥6.82B	-CN¥20B	-CN¥26.2B	-CN¥77.8B	-CN¥49.6B	-CN¥38.9B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Cash, investments and debt

quarter ends

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CNY as reported; price and market cap in USD.