Li Auto Inc. (LI) income statement

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

Li Auto Inc. (LI) reported revenue of CN¥25.6B for Q2 '26 (-15.7% year on year), operating income of -CN¥2.21B (-8.6% of revenue) and net income of -CN¥1.7B. Over the last four quarters revenue was CN¥104B.

Income statement

Income statement	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Revenue	CN¥35B	CN¥40.9B	CN¥25.6B	CN¥31.6B	CN¥43.2B	CN¥42B	CN¥26B	CN¥30.4B	CN¥27.4B	CN¥28.4B	CN¥22.8B	CN¥25.6B
Cost of revenue	CN¥27.2B	CN¥31.3B	CN¥20.3B	CN¥25.5B	CN¥33.9B	CN¥33.5B	CN¥20.7B	CN¥24.3B	CN¥22.9B	CN¥23.3B	CN¥21B	CN¥22.8B
Gross profit	CN¥7.7B	CN¥9.59B	CN¥5.28B	CN¥6.17B	CN¥9.29B	CN¥8.48B	CN¥5.33B	CN¥6.09B	CN¥4.48B	CN¥5.06B	CN¥1.8B	CN¥2.83B
Research & development	CN¥2.84B	CN¥3.42B	CN¥3.05B	CN¥3.02B	CN¥2.61B	CN¥2.25B	CN¥2.52B	CN¥2.82B	CN¥2.98B	CN¥0	CN¥2.71B	CN¥2.77B
Other operating expenses	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥2.97B	CN¥6.88	CN¥6.79
Operating expenses	CN¥5.4B	CN¥6.63B	CN¥6.02B	CN¥5.84B	CN¥5.99B	CN¥5.14B	CN¥5.06B	CN¥5.55B	CN¥5.75B	CN¥5.59B	CN¥4.74B	CN¥5.04B
Operating income	CN¥2.3B	CN¥2.97B	-CN¥742M	CN¥334M	CN¥3.3B	CN¥3.35B	CN¥274M	CN¥541M	-CN¥1.28B	-CN¥526M	-CN¥2.95B	-CN¥2.21B
Interest income	CN¥443M	CN¥778M	CN¥1.07B	CN¥370M	CN¥0	CN¥366M	CN¥517M	CN¥498M	CN¥476M	CN¥431M	CN¥392M	CN¥454M
Interest expense	CN¥11.8M	CN¥13.4M	CN¥28.6M	CN¥43.2M	CN¥54.6M	CN¥58.9M	CN¥48.3M	CN¥49.9M	CN¥32.7M	CN¥36.9M	CN¥40.4M	CN¥116M
Other non-operating income (gains on investments, FX ...)	-CN¥685M	-CN¥1.14B	-CN¥1.45B	-CN¥886M	-CN¥177M	-CN¥610M	-CN¥550M	-CN¥803M	-CN¥569M	-CN¥536M	-CN¥400M	CN¥0
Total non-operating income	CN¥673M	CN¥1.13B	CN¥1.42B	CN¥843M	CN¥123M	CN¥551M	CN¥502M	CN¥753M	CN¥536M	CN¥499M	CN¥360M	CN¥268M
Income before tax	CN¥2.97B	CN¥4.09B	CN¥675M	CN¥1.18B	CN¥3.42B	CN¥3.9B	CN¥776M	CN¥1.29B	-CN¥740M	-CN¥27M	-CN¥2.59B	-CN¥1.94B
Income tax	CN¥139M	-CN¥1.54B	CN¥84.4M	CN¥77M	CN¥584M	CN¥503M	CN¥128M	CN¥193M	-CN¥115M	-CN¥46.9M	-CN¥323M	-CN¥243M
Net income	CN¥2.85B	CN¥5.54B	CN¥592M	CN¥1.1B	CN¥2.83B	CN¥3.39B	CN¥652M	CN¥1.1B	-CN¥626M	CN¥6.43M	-CN¥2.28B	-CN¥1.7B
EPS (basic)	CN¥2.88	CN¥5.60	CN¥0.60	CN¥1.11	CN¥2.84	CN¥3.38	CN¥0.65	CN¥1.09	-CN¥0.62	CN¥0.01	-CN¥2.28	-CN¥1.70
EPS (diluted)	CN¥2.68	CN¥5.20	CN¥0.56	CN¥1.04	CN¥2.66	CN¥3.18	CN¥0.61	CN¥1.02	-CN¥0.62	CN¥0.01	-CN¥2.28	-CN¥1.70
Shares (basic, weighted)	986M	990M	993M	995M	998M	1B	1B	1.01B	1.01B	1.01B	1.01B	1.01B
Shares (diluted, weighted)	1.06B	1.06B	1.07B	1.06B	1.06B	1.07B	1.07B	1.07B	1.01B	1.04B	1.01B	1.01B
Depreciation & amortization	CN¥0	CN¥1.03B	CN¥0	CN¥1.3B	CN¥0	CN¥1.76B	CN¥0	CN¥1.72B	CN¥0	CN¥2.91B	CN¥0	CN¥0
EBITDA	CN¥2.99B	CN¥5.14B	CN¥704M	CN¥2.52B	CN¥3.48B	CN¥5.71B	CN¥825M	CN¥3.06B	-CN¥707M	CN¥2.92B	-CN¥2.55B	-CN¥2.21B

Income statement	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	CN¥0	CN¥284M	CN¥8.94B	CN¥26.7B	CN¥46.1B	CN¥124B	CN¥145B	CN¥112B
Cost of revenue	CN¥89.7M	CN¥381M	CN¥7.55B	CN¥21.1B	CN¥37.3B	CN¥96.3B	CN¥115B	CN¥91.3B
Gross profit	-CN¥89.7M	-CN¥97.1M	CN¥1.39B	CN¥5.55B	CN¥8.81B	CN¥27.5B	CN¥29.7B	CN¥21B
Research & development	CN¥804M	CN¥1.13B	CN¥997M	CN¥3.19B	CN¥6.84B	CN¥10.6B	CN¥11.1B	CN¥11.3B
Other operating expenses	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	-CN¥474M
Operating expenses	CN¥1.09B	CN¥1.74B	CN¥1.99B	CN¥6.56B	CN¥12.5B	CN¥20.4B	CN¥23.3B	CN¥21.5B
Operating income	-CN¥1.18B	-CN¥1.84B	-CN¥604M	-CN¥1B	-CN¥3.72B	CN¥7.14B	CN¥6.36B	-CN¥521M
Interest income	CN¥74.5M	CN¥79.4M	CN¥241M	CN¥731M	CN¥1.09B	CN¥2.08B	CN¥1.82B	CN¥1.92B
Interest expense	CN¥65.9M	CN¥83.4M	CN¥63.3M	CN¥62.4M	CN¥108M	CN¥86.2M	CN¥188M	CN¥168M
Other non-operating income (gains on investments, FX ...)	-CN¥67.4M	CN¥330M	-CN¥491M	-CN¥916M	-CN¥1.63B	-CN¥3.39B	-CN¥3.15B	-CN¥1.99B
Total non-operating income	-CN¥35.7M	-CN¥576M	CN¥426M	CN¥853M	CN¥1.52B	CN¥3.31B	CN¥2.96B	CN¥1.82B
Income before tax	-CN¥1.21B	-CN¥2.41B	-CN¥179M	-CN¥151M	-CN¥2.2B	CN¥10.5B	CN¥9.32B	CN¥1.3B
Income tax	CN¥0	CN¥0	-CN¥21.6M	CN¥166M	-CN¥129M	-CN¥1.36B	CN¥1.27B	CN¥158M
Net income	-CN¥1.59B	-CN¥2.43B	-CN¥160M	-CN¥317M	-CN¥2.05B	CN¥11.7B	CN¥8.04B	CN¥1.12B
EPS (basic)	-CN¥2.12	-CN¥3.62	-CN¥0.85	-CN¥0.34	-CN¥2.10	CN¥11.90	CN¥8.06	CN¥1.12
EPS (diluted)	-CN¥2.12	-CN¥3.62	-CN¥0.85	-CN¥0.34	-CN¥2.10	CN¥11.06	CN¥7.54	CN¥1.04
Shares (basic, weighted)	905M	905M	905M	927M	971M	984M	997M	1.01B
Shares (diluted, weighted)	905M	905M	905M	927M	971M	1.06B	1.06B	1.07B
Depreciation & amortization	CN¥60.5M	CN¥116M	CN¥321M	CN¥590M	CN¥1.21B	CN¥1.81B	CN¥3.06B	CN¥4.64B
EBITDA	-CN¥1.05B	-CN¥2.05B	CN¥208M	CN¥502M	-CN¥875M	CN¥12.3B	CN¥12.6B	CN¥6.1B

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.

Revenue, operating income and growth

quarterly

Margins

quarterly

Costs as % of revenue

quarterly

The other statements

Balance sheetCash, investments, assets, debt, liabilities and equityOpen 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.