LI AUTO (02015) net profit for 2025 was 1.1 billion yuan, a year-on-year decrease of 85.8%

LI AUTO (02015) announced that in the fourth quarter of 2025, the vehicle sales revenue was 27.3 billion yuan, a decrease of 36.1% compared to the fourth quarter of 2024 and an increase of 5.4% compared to the third quarter of 2025. The total revenue was 28.8 billion yuan, a decrease of 35.0% compared to the fourth quarter of 2024 and an increase of 5.2% compared to the third quarter of 2025. The net profit was 202 million yuan, while the net profit in the fourth quarter of 2024 was 3.5 billion yuan, and the net loss in the third quarter of 2025 was 624.4 million yuan. In 2025, the vehicle sales revenue was 106.7 billion yuan, a decrease of 23.0% compared to 138.5 billion yuan in 2024. The total revenue was 112.3 billion yuan, a decrease of 22.3% compared to 144.5 billion yuan in 2024. The net profit was 1.1 billion yuan, a decrease of 85.8% compared to 8 billion yuan in 2024. In January and February of 2026, the company delivered 27,668 and 26,421 vehicles respectively. As of February 28, 2026, the company had 539 retail centers in 160 cities nationwide, operated 548 after-sales maintenance centers and authorized service centers in 223 cities, and had put into use 4,054 ideal supercharging stations with 22,447 charging piles. Mr. Li Xiang, Chairman and CEO of Ideal Auto, said: "After active strategic adjustments in 2025, we have begun to see positive changes in organizational efficiency, supply capacity, and sales system since the fourth quarter, including improved store efficiency, easing of production issues for the Ideal i6, and a rebound in sales of the Ideal i8. In 2026, we will usher in an important product cycle, with the launch of the all-new Ideal L9 in the second quarter, which will achieve comprehensive upgrades in powertrain, intelligent driving, and chassis technology, bringing intergenerational experience improvements to users. In the future, Ideal Auto will continue to improve its AI-driven research and development system, promote long-term product innovation and technological breakthroughs with stable R&D investment." Mr. Li Tie, CFO of Ideal Auto, added: "Facing the short-term challenges brought by the product cycle switch and intensified industry competition, we achieved a resilient gross margin in the fourth quarter relying on solid operating capabilities and rigorous cost management. Our robust financial position also supported performance, helping the company achieve profitability at the annual net profit level. At the end of the year, the company's cash reserves reached 101.2 billion yuan, remaining strong and providing ample momentum for us to seize the vast opportunities in the intelligent mobility field and accelerate global expansion."