Li Auto Q2 revenue falls 15.1% year over year
Li Auto reported second-quarter 2026 revenue of RMB 25.7 billion, down 15.1% year over year but up 11.7% sequentially, with vehicle sales contributing RMB 24.1 billion.
On Wednesday, Li Auto (NASDAQ: LI ) discussed second-quarter financial results during its earnings call.
The full transcript is provided below.
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The full earnings call is available at Summary Li Auto reported Q2 2026 revenues of RMB 25.7 billion, a 15.1% year-over-year decrease, but an 11.7% increase quarter-over-quarter, with vehicle sales contributing RMB 24.1 billion.
The company launched new models, including the rear-wheel drive Li i8 and is set to release the Li Mega and Li i9, enhancing its BEV lineup and aiming to solidify its position in the high-end NEV market.
Li Auto focuses on in-house technology development, particularly in batteries and chips, which it sees as critical competitive advantages, and has expanded its proprietary supercharging network.
The company faced cost pressures due to raw material price fluctuations but aims to stabilize margins through in-house technological advancements and efficient supply chain management.
Guidance for Q3 2026 includes expected deliveries of 95,000 to 100,000 vehicles and revenue between RMB 26.6 billion and RMB 28.0 billion, reflecting positive expectations for new model launches.
Full Transcript OPERATOR Hello, ladies and gentlemen.
Thank you for standing by for Li Auto's second quarter 2026 earnings conference call.
At this time, all participants are in listen-only mode.
Today's conference call is being recorded.
I will now turn the call over to your host, Ms.
Janet Zhang, Investor Relations Director of Li Auto.
Please go ahead, Janet.
Janet Zhang, Investor Relations Director Thank you, operator.
Good evening and good morning, everyone.
Welcome to Li Auto's second quarter 2026 earnings conference call.
The company's financial and operating results were published in a press release earlier today and were posted on the company's IR website.
On today's call we will have our Chairman and CEO Mr.
Xiang Li and our CFO Mr.
Johnny T.
Li to begin with prepared remarks.
Our President Mr.
Dong Huima and CTO Mr.
Yanqie will join for the Q&A discussion.
Before we continue, please be reminded that today's discussion will contain forward-looking statements made under the safe harbor provision of the U.S.
Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve inherent risks and uncertainties.
As such, the company's actual results may be materially different from the views expressed today.
Further information regarding risks and uncertainties is included in certain company filings with the SEC and the Stock Exchange of Hong Kong Ltd.
The company does not assume any obligation to update any forward-looking statements except as required under applicable law.
Please also note that Li Auto's earnings press release and this conference call include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures.
Please refer to Li Auto's disclosure document on the IR section of our website which contain a reconciliation of the unaudited non-GAAP measures to comparable GAAP measures.
Our CEO will start his remarks in Chinese.