Li Auto Q1 Earnings Call Highlights

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Li Auto (NASDAQ:LI) executives said the institution returned to a income maturation trajectory successful the archetypal 4th of 2026, but the Chinese electrical conveyance shaper reported sharply little margins and a nett nonaccomplishment arsenic merchandise premix and its exemplary refresh rhythm weighed connected profitability.

Chairman and CEO Xiang Li said Li Auto returned to the apical presumption successful income among Chinese brands successful China’s caller vigor conveyance marketplace priced astatine RMB 200,000 and supra during the January-to-April period. He said monthly income of the company’s BEV model, the Li i6, person stabilized astatine 20,000 units per month, placing it among the apical 3 BEV SUVs.

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Li besides highlighted the May 15 motorboat of the all-new Li L9, with deliveries opening May 17. The exemplary is offered successful Livis and Ultra trims priced astatine RMB 509,800 and RMB 459,800, respectively. Li said the company’s extremity is to presumption the caller L9 arsenic a flagship SUV and that the Livis trim secured much than 10,000 orders wrong 2 weeks, with transaction prices supra RMB 500,000.

Revenue Falls arsenic Margins Contract

CFO Johnny Tie Li said full gross successful the archetypal 4th was RMB 23 billion. Vehicle income gross was RMB 21.5 billion, down 12.7% twelvemonth implicit twelvemonth and 21% 4th implicit quarter. He attributed the year-over-year diminution chiefly to a little mean selling terms from merchandise mix, portion the sequential diminution reflected reduced deliveries tied to Chinese New Year seasonality and little mean selling price.

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