LI AUTO PROFIT NARROWS 86PC TO 1.1B YUAN
China's automaker Li Auto (2015) saw its net profit sharply narrow 86 percent year-on-year to 1.1 billion yuan (HK$1.3 billion) in 2025 amid heightened industry competition.
Its adjusted net income also dropped 77.5 percent to 2.4 billion yuan from a year ago.
Total revenue fell 22.3 percent to 112.3 billion yuan, among which vehicle sales recorded 106.7 billion yuan, down 23 percent due to the decrease in vehicle deliveries.
Li Auto's full-year deliveries last year were 406,343, representing a decline of 18.8 percent.
The vehicle maker expected its first-quarter deliveries to be between 85,000 and 90,000 vehicles, representing a decrease of 8.5 percent to 3.1 percent.
Revenue for the first quarter is estimated to be in the range of 20.4 billion yuan and 21.6 billion yuan, down 21.3 percent to 16.7 percent.
Chairman and chief executive Li Xiang said that the company will embark on an important product cycle this year, with all-new Li L9 to be launched in the second quarter, which features comprehensive upgrades in powertrain, autonomous driving, and chassis technology.
Looking ahead, the company will continue to refine our restructured artificial intelligence-native research and development system and consistently invest in R&D to drive product innovation and technological breakthroughs over the long term, he added.