Li Auto Q2 FY26 turns to net loss of RMB 1.7 billion; revenue falls 15.1% to RMB 25.7 billion YoY

• Li Auto posted a GAAP net loss of RMB 1.7 billion, swinging from profit a year earlier; GAAP operating loss was RMB 2.3 billion.
• Revenue fell 15.1% year over year to RMB 25.7 billion, reflecting lower deliveries and a lower average selling price on product mix shifts.
• Gross margin slid 9.1 percentage points year over year to 11%; vehicle margin dropped 10 percentage points to 9.4%.
• Deliveries declined 11.5% year over year to 98,330 vehicles; July deliveries totaled 30,468 vehicles.
• Guided for Q3 deliveries of 95,000–100,000 vehicles; revenue forecast at RMB 26.6 billion–RMB 28.0 billion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Li Auto Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608260430PRIMZONEFULLFEED9816360) on August 26, 2026, and is solely responsible for the information contained therein.