Li Auto Inc. (LI) Earnings Call Transcripts
Li Auto Inc.'s Latest Earnings Call - Q1 FY2026
In Q1 2026, Li Auto Inc. reported total revenues of RMB 23 billion, reflecting an 11.4% year-over-year decline, primarily due to a lower average selling price and seasonal factors. The company experienced a significant net loss of RMB 2.3 billion, compared to a net income in the same period last year. Management maintained a full-year sales growth target of 20% and provided guidance for Q2 deliveries between 95,000 and 100,000 vehicles, with revenues expected to range from RMB 24.1 billion to RMB 25.4 billion, indicating a potential recovery in sales momentum.
Reported metrics
| Metric | Value |
|---|---|
| Total Revenue | RMB 23 billion (miss) |
| Vehicle Sales Revenue | RMB 21.5 billion (miss) |
| Gross Profit | RMB 1.8 billion (miss) |
| Gross Margin | 7.9% (miss) |
| Net Loss | RMB 2.3 billion (miss) |
| Operating Margin | -13% (miss) |
Guidance from management
Li Auto maintains a full-year sales growth target of 20% and expects Q2 revenues between RMB 24.1 billion and RMB 25.4 billion, reflecting a recovery in sales momentum.
What management said
Thank you once again for joining us today. If you have further questions, please feel free to contact Li Auto's Investor Relations team through the contact information provided on our IR website. This concludes this conference call. You may now disconnect your lines. Thank you. [Portions of this transcript that are marked [Interpreted] were spoken by an interpreter present on the live call.]
What analysts pressed on
Analysts expressed concerns regarding the significant operational losses and the impact of rising raw material costs on profitability. There are questions about when a clear inflection point for earnings can be expected, given the current financial performance.
Main topics on the call
- New Product Launches — Li Auto launched the all-new Li L9 on May 15, with over 10,000 orders secured within two weeks. The company aims to capture a 20% market share in the RMB 500,000 and above NEV SUV market, signaling strong demand for its ...
- Sales and Delivery Guidance — Management expects Q2 deliveries to be between 95,000 and 100,000 vehicles, with revenues projected between RMB 24.1 billion and RMB 25.4 billion. This guidance reflects confidence in recovering sales momentum post-seaso...
- Gross Margin Recovery — CFO Tie Li indicated that gross margin is expected to recover about 10% in Q2 due to the launch of the Li L9 and improved product mix. This is a critical indicator of potential profitability improvement moving forward.
- Operational Losses — The company reported a net loss of RMB 2.3 billion in Q1, a stark contrast to net income in the same period last year. This raises concerns about the sustainability of operations amidst declining revenues.
Read the full Li Auto Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Li Auto Inc.
Li Auto Inc. (LI) is a publicly listed company in the Automobiles industry, within the Consumer Discretionary sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 37 calls on record spanning February 6, 2020 to August 26, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 37 Li Auto Inc. earnings call transcripts on record, spanning February 6, 2020 to August 26, 2026. Based on this history, Li Auto Inc. reports quarterly. The most recent call on file is dated August 26, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- LI
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Consumer Discretionary
- Industry
- Automobiles
- Calls on record
- 37
- First call
- February 6, 2020
- Most recent
- August 26, 2026
- Reporting cadence
- quarterly