Logotype for Li Auto Inc

Li Auto (LI) investor relations material

Li Auto Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Li Auto Inc
Q2 2025 earnings summary28 Aug, 2025

Executive summary

  • Delivered 111,074 vehicles in Q2 2025, with total revenues of RMB30.2 billion, up 16.7% sequentially but down 4.5% year-over-year, maintaining a leading position in the RMB200,000+ NEV segment in China.

  • Net income was RMB1.1 billion, nearly flat year-over-year but up 69.6% from the previous quarter.

  • Launched Li Mega Home and Li i8, both achieving strong sales and positive user feedback; Li i8 deliveries began August 20, 2025, and are expected to exceed 8,000 cumulative by September.

  • Expanded charging network to over 3,100 stations, aiming for 4,000 by year-end, and expanded retail network to over 535 stores.

  • Underwent major sales and service system restructuring to enhance operational efficiency and user experience.

Financial highlights

  • Vehicle sales were RMB28.9 billion, down 4.7% year-over-year but up 17.0% sequentially; gross profit was RMB6.1 billion, down 1.8% year-over-year but up 14.1% sequentially.

  • Gross margin was 20.1%, up from 19.5% a year ago but slightly down from 20.5% in the prior quarter; vehicle margin at 19.4%.

  • Operating income reached RMB827 million, up 76.7% year-over-year and 204.4% quarter-over-quarter; operating margin was 2.7%.

  • Diluted net earnings per ADS were RMB1.03, down 1.9% year-over-year but up 66.1% sequentially.

  • Maintained a robust cash position of RMB106.9 billion as of June 30, 2025, despite negative operating cash flow of RMB3 billion and free cash flow of negative RMB3.8 billion.

Outlook and guidance

  • Q3 2025 vehicle deliveries expected between 90,000 and 95,000 units, a year-over-year decrease of 41.1% to 37.8%; revenue guidance between RMB24.8 billion and RMB26.2 billion, down 42.1% to 38.8% year-over-year.

  • Gross margin expected to be maintained at around 19% in Q3.

  • Ongoing investments in AI and R&D, with AI spending projected to exceed RMB6 billion in 2025.

  • Overseas expansion to begin in 2025, targeting Middle East, Central Asia, and Europe.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Li Auto earnings date

Logotype for Li Auto Inc
Q3 202530 Oct, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Li Auto earnings date

Logotype for Li Auto Inc
Q3 202530 Oct, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Li Auto Inc., designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. The company offers Li ONE, an extended-range electric SUV. It also provides connected car services that allow its users to view various vehicle diagnostic reports, software update status, remaining driving range report for extended range electric vehicle, and charging records; book maintenance appointments; and use its call centers service. Li Auto Inc. was founded in 2015 and is headquartered in Beijing, China.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage