Li Auto Inc. (LI) SEC Filings & Earnings Calls
EquiReason read 61 Li Auto Inc. SEC filings in the last 12 months. Latest: 6-K on 2026-10-16 — Li Auto subsidiary MHX Technology raises RMB1.625B equity financing from external investors for chip and domain controller business; Li Auto retains control..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
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Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
16 Oct 20266-KLi Auto subsidiary MHX Technology raises RMB1.625B equity financing from external investors for chip and domain controller business; Li Auto retains control.open
Risks flagged
Dilution of Li Auto's ownership in MHX Technology to ~74% after full exercise of options and incentive plans.
“Assuming full utilization of both incentive plans and full exercise of the Hangzhou Jingtao Subscription Right, the Company expects to hold approximately 74.01% equity interest.”
13 Oct 20266-KMonthly return filing for Hong Kong listing showing share movements; no material business or financial event.open
Figures in the filing · each found in the filing text
| Issued shares (Class A, excluding treasury) · 2026-09-30 | 1,716,030,157 | |
| Treasury shares (Class A) · 2026-09-30 | 102,294,952 | |
| Issued shares (Class B) · 2026-09-30 | 345,199,159 | |
| Convertible senior notes outstanding · 2026-09-30 | $146M | |
| Funds raised from option exercises · 2026-09 | $37793.00 |
1 Oct 20266-KLi Auto delivered 31,817 vehicles in Sep 2026; cumulative deliveries reached 1,833,651. No financial results or guidance provided.earningsopen
Figures in the filing · each found in the filing text
| deliveries_monthly · September 2026 | 31,817 | |
| cumulative_deliveries · as of September | 1,833,651 | |
| retail_stores · as of September | 485 | |
| centers_servicing · as of September | 532 | |
| charging_stations_super · as of September | 4,188 | |
| charging_stalls · as of September | 23,077 |
Risks flagged
Competition in China NEV market remains intense; regulatory and subsidy risks persist.
“Forward-looking statements cite risks including competition, government incentives, and consumer demand changes.”
28 Sep 20266-KLi Auto Inc. repurchased 1,272,800 shares on September 21, 2026 at HKD 44.84-47 per share, total HKD 58.2M. Shares held as treasury. Part of ongoing buyback program.open
Figures in the filing · each found in the filing text
| repurchased_shares · 2026-09-21 | 1,272,800 |
21 Sep 20266-KLi Auto Inc. filed Next Day Disclosure Returns for share repurchases on Sep 14-18, 2026, repurchasing 1,692,500 shares on Sep 17 at HKD 46.121 avg price. This is execution of existing buyback authorization.open
Figures in the filing · each found in the filing text
| repurchased_shares · 2026-09-17 | 1,692,500 |
14 Sep 20266-KLi Auto Inc. (LI) filed Next Day Disclosure Returns for Sep 8, 10, 11, 2026 detailing share repurchases. On Sep 8, 2026, repurchased 539,100 shares at HKD 49.4037 per share, held as treasury shares.open
Figures in the filing · each found in the filing text
| Shares repurchased (Sep 8, 2026) · Sep 8, 2026 | 539,100 | |
| Repurchase price per share (Sep 8, 2026) · Sep 8, 2026 | $49.40 |
Risks flagged
Buyback reduces cash but signals confidence; no operational impact.
“Share repurchase”
1 Sep 20266-KLi Auto delivered 37,679 vehicles in August 2026; cumulative deliveries reached 1,801,834. Upcoming product launches include Li MEGA and Li i9. Expansion into Middle East.earningsopen
Figures in the filing · each found in the filing text
| August deliveries · total · August 2026 | 37,679 | |
| Cumulative deliveries · total · as of August 31, | 1,801,834 | |
| Retail stores · China · as of August 31, | 487 | |
| Super charging stations · China · as of August 31, | 4,162 |
Risks flagged
No financial results or guidance provided; limited visibility into profitability.
“No financial data in this filing.”
26 Aug 20266-KLi Auto Q2 2026: revenue -15.1% YoY, vehicle margin 9.4% vs 19.4% YoY, net loss RMB1.7B vs profit RMB1.1B YoY, deliveries -11.5% YoY. Sequential improvement from Q1 but severe YoY deterioration.earningsopen
Figures in the filing · each found in the filing text
| Vehicle margin · Q2-2026 | 9.4% | |
| Gross margin · Q2-2026 | 11.0% | |
| Deliveries · Q2-2026 | 98,330 | -12% y/y |
Risks flagged
Severe margin compression with vehicle margin halved YoY, indicating pricing pressure and cost structure challenges
“Vehicle margin 9.4% vs 19.4% YoY; gross margin 11.0% vs 20.1% YoY”
Demand weakness with YoY delivery decline despite sequential improvement
“Deliveries -11.5% YoY; revenue -15.1% YoY”
Negative free cash flow persists, though improved from prior quarter
“Free cash flow negative RMB1.3B in Q2 2026”
24 Aug 20266-KFiling of next day disclosure returns for share repurchases on Aug 17-20, 2026;open
Risks flagged
No material risk; routine disclosure.
“No financial details provided in excerpt.”
17 Aug 20266-KLi Auto Inc. reports share repurchase of 835,874 shares on Nasdaq at aggregate price of $5.26 million as part of ongoing buyback program.open
Figures in the filing · each found in the filing text
| Shares repurchased · 11 August 2026 | 835,874 | |
| Aggregate repurchase price · 11 August 2026 | $5M |
3 Aug 20266-KLi Auto Inc. reported July 2026 delivery of 30,468 vehicles; cumulative deliveries reached 1,764,155; launched new Li L6; expanded charging infrastructure.earningsopen
Figures in the filing · each found in the filing text
| Monthly deliveries · July 2026 | 30,468 | |
| Cumulative deliveries · July 2026 | 1,764,155 | |
| Retail stores · July 2026 | 490 | |
| Super charging stations · July 2026 | 4,141 | |
| Charging stalls · July 2026 | 22,841 |
Risks flagged
No material risks identified in this routine monthly update.
3 Aug 20266-KLi Auto Inc. repurchased 583,762 shares on July 27, 2026 at an aggregate price of $3.66M; shares held as treasury; part of ongoing buyback program.open
Figures in the filing · each found in the filing text
| Shares repurchased · 27 July 2026 | 583,762 | |
| Aggregate repurchase price · 27 July 2026 | $4M |
Risks flagged
No material risks; routine buyback disclosure.
27 Jul 20266-KLi Auto Inc. repurchased 1,122,072 shares on July 17, 2026 at an aggregate price of $7,035,728.06, as part of ongoing buyback program.open
Figures in the filing · each found in the filing text
| shares repurchased · 2026-07-17 | 1,122,072 | |
| aggregate repurchase price · 2026-07-17 | $7M |
20 Jul 20266-KLi Auto Inc. repurchased 779,734 shares on July 13, 2026 for ~$4.77M as part of ongoing buyback program; also converted Class B to Class A shares.open
Figures in the filing · each found in the filing text
| Shares repurchased · 2026-07-13 | 779,734 | |
| Aggregate repurchase price · 2026-07-13 | $5M |
13 Jul 20266-KRoutine monthly return filing for Hong Kong listing disclosing share movements, option exercises, and convertible notes outstanding.open
Figures in the filing · each found in the filing text
| Convertible senior notes outstanding · June 2026 | $146M | |
| Share options outstanding (2019 Plan) · June 2026 | 25,033,116 | |
| Share options outstanding (2020 Plan) · June 2026 | 47,762,062 |
6 Jul 20266-KLi Auto repurchased 4,315,100 Class A ordinary shares on June 30, 2026 at HKD 45.4-46.42 per share, total HKD 199.1M, held as treasury shares.open
Figures in the filing · each found in the filing text
| Shares repurchased · June 30, 2026 | 4,315,100 | |
| Aggregate repurchase price · June 30, 2026 | $199M | |
| Repurchase price per share (average) · June 30, 2026 | $46.14 |
1 Jul 20266-KMonthly delivery update: 30,895 vehicles delivered in June 2026; cumulative deliveries 1,733,687. New model launches. No financial results or guidance.earningsopen
Figures in the filing · each found in the filing text
| deliveries · June 2026 | 30,895 | |
| cumulative deliveries · as of June 30, 2 | 1,733,687 | |
| retail stores · as of June 30, 2 | 495 | |
| servicing centers · as of June 30, 2 | 536 | |
| super charging stations · as of June 30, 2 | 4,097 | |
| charging stalls · as of June 30, 2 | 22,593 |
8 Jun 20266-KLi Auto Inc. repurchased 2,219,500 shares on June 2, 2026 at an aggregate price of HKD 136,293,058.45, holding them as treasury shares.open
Figures in the filing · each found in the filing text
| Shares repurchased · 2026-06-02 | 2,219,500 | |
| Aggregate repurchase price · 2026-06-02 | $136M |
1 Jun 20266-KLi Auto Inc. repurchased 2,082,740 shares on May 28, 2026 at avg ~USD 7.71 per share, total ~USD 16.06M; cumulative repurchases under mandate: 19,591,340 shares (0.9151% of issued shares).open
Figures in the filing · each found in the filing text
| shares repurchased (daily) · May 28, 2026 | 2,082,740 | |
| cumulative shares repurchased under mandate · May 28, 2026 | 19,591,340 | |
| aggregate repurchase price (daily) · May 28, 2026 | $16M |
Risks flagged
Share repurchase reduces cash reserves; may signal management view that stock is undervalued
“Repurchase at USD 7.52-7.845 per share; cumulative repurchases represent 0.9151% of issued shares”
1 Jun 20266-KLi Auto May 2026 delivery update: 33,350 vehicles delivered, cumulative 1,702,792; Li i6 monthly deliveries >20k; new Li L9 launched with >10k orders in 2 weeks; 498 retail stores, 4,088 super charging stations.earningsopen
Figures in the filing · each found in the filing text
| monthly deliveries · May 2026 | 33,350 | |
| cumulative deliveries · May 31, 2026 | 1,702,792 | |
| retail stores · May 31, 2026 | 498 | |
| super charging stations · May 31, 2026 | 4,088 | |
| charging stalls · May 31, 2026 | 22,563 |
Risks flagged
Competitive pressure in China's NEV market may impact future delivery growth
“Company operates in highly competitive new energy vehicle market in China”
28 May 20266-KLi Auto Q1 2026: revenue RMB23.0B (-11.4% YoY), vehicle margin collapsed to 6.1% from 19.8% YoY, net loss RMB2.3B vs net income RMB646.6M YoY, negative free cash flow RMB7.4B.open
Figures in the filing · each found in the filing text
| Vehicle margin · Vehicle · Q1-2026 | 6.1% | |
| Gross margin · Q1-2026 | 7.9% | |
| Deliveries · Q1-2026 | 95,142 | +3% y/y |
Risks flagged
Severe margin compression: vehicle margin collapsed from 19.8% to 6.1% YoY due to price competition.
“Vehicle margin was 6.1% in Q1 2026, compared with 19.8% in Q1 2025.”
Accelerating cash burn: free cash flow negative RMB7.4B, worsening from -RMB2.5B YoY.
“Free cash flow was negative RMB7.4 billion in Q1 2026, compared with negative RMB2.5 billion in Q1 2025.” · word for word
Revenue decline despite delivery growth indicates severe pricing pressure.
“Total revenues decreased 11.4% YoY while deliveries increased 2.5%.”
26 May 20266-KLi Auto Inc. reports daily share repurchases on Nasdaq from May 19-22, 2026; 1,226,702 shares repurchased on May 20 at avg ~$8.02/share.open
Figures in the filing · each found in the filing text
| Shares repurchased · May 20, 2026 | 1,226,702 | |
| Aggregate price paid · May 20, 2026 | $10M |
1 May 20266-KLi Auto Inc. reported April 2026 deliveries of 34,085 vehicles, cumulative deliveries reached 1,669,442. New Li L9 Livis debuted at Beijing Auto Show with official launch May 15. Retail network expanded to 511 stores in 160 cities.earningsopen
Figures in the filing · each found in the filing text
| Deliveries · April 2026 | 34,085 | |
| Cumulative deliveries · as of April 30, | 1,669,442 | |
| Retail stores · as of April 30, | 511 | |
| Super charging stations · as of April 30, | 4,077 | |
| Charging stalls · as of April 30, | 22,509 |
10 Apr 202620-FLi Auto reported FY2025 results with significant revenue decline, swing to operating loss, and negative operating cash flow.earningsopen
Figures in the filing · each found in the filing text
| Total revenues · FY2025 | $112.31B | -22% y/y |
| Vehicle sales · FY2025 | $106.68B | -23% y/y |
| Gross profit · FY2025 | $20.99B | -29% y/y |
| Net income · FY2025 | $1.14B | -86% y/y |
| Research and development expenses · FY2025 | $11.31B | +2% y/y |
| Net cash provided by/(used in) operating activities · FY2025 | $-8.61B | -154% y/y |
Risks flagged
Supply chain disruption
“starting in late 2025, we have experienced significant delivery delays for our Li i6 model due to supply constraints for certain core components, particularly the battery cells.” · word for word
Intense competition
“We expect competition in the China automotive market to intensify in the future in light of intense price competition and phase-out of government subsidies.” · word for word
Profitability pressure
“We recorded loss from operations of RMB521.1 million (US$74.5 million) in 2025, compared with income from operations of RMB7.0 billion in 2024.” · word for word
Management turnover
“In 2025, we experienced significant turnover among managers in our core business departments.” · word for word
Product recall
“we voluntarily recalled 11,411 of 2024 Li MEGA in the third quarter of 2025 due to certain hardware-related safety risks.” · word for word
1 Apr 20266-KLi Auto delivered 41,053 vehicles in March 2026; cumulative deliveries reached 1,635,357. Production bottleneck resolved for Li i6; new Li L9 expected in Q2 2026. Unveiled next-gen autonomous driving model.earningsopen
Figures in the filing · each found in the filing text
| Monthly deliveries · March 2026 | 41,053 | |
| Cumulative deliveries · March 2026 | 1,635,357 | |
| Retail stores · March 2026 | 517 | |
| Super charging stations · March 2026 | 4,057 |
Risks flagged
Dependence on new model launches and autonomous driving technology for future growth.
“New model Li L9 expected in Q2 2026; autonomous driving technology unveiled.”
24 Mar 20266-KLi Auto announces US$1.0 billion share repurchase program through March 2027; signals confidence.open
Figures in the filing · each found in the filing text
| share repurchase authorization · 2026-03-24 to 20 | $1.00B |
12 Mar 20266-KLi Auto Q4 2025: revenue -35% YoY, vehicle margin 16.8% vs 19.7% prior year, deliveries -31.2% YoY. Full year deliveries 406,343 vs 500,508 prior year.earningsopen
Figures in the filing · each found in the filing text
| Vehicle margin · Vehicle · Q4-2025 | 16.8% | |
| Deliveries · Q4-2025 | 109,194 | -31% y/y |
| Full year deliveries · FY2025 | 406,343 | -19% y/y |
| Gross margin · Q4-2025 | 17.8% |
Risks flagged
Significant demand decline: deliveries down 31.2% YoY in Q4 and 18.8% for full year.
“Total deliveries for the fourth quarter of 2025 were 109,194 vehicles, representing a 31.2% year-over-year decrease.” · word for word
Margin compression: vehicle margin down 290 bps YoY, gross margin down 250 bps.
“Vehicle margin was 16.8% in the fourth quarter of 2025, compared with 19.7% in the fourth quarter of 2024” · word for word
Operating loss: loss from operations of RMB442.6M vs income of RMB3.7B prior year.
“Loss from operations was RMB442.6 million (US$63.3 million) in the fourth quarter of 2025, compared with RMB3.7 billion income from operations in the fourth quarter of 2024” · word for word
2 Mar 20266-KLi Auto February 2026 delivery update: 26,421 vehicles delivered, cumulative 1,594,304; OTA update 8.3, 4,054 super charging stations, plans to launch all-new Li L9 in Q2.earningsopen
Figures in the filing · each found in the filing text
| Vehicle deliveries · February 2026 | 26,421 | |
| Cumulative deliveries · as of February 2 | 1,594,304 | |
| Super charging stations · as of February 2 | 4,054 | |
| Charging stalls · as of February 2 | 22,447 | |
| Retail stores · as of February 2 | 539 | |
| Servicing centers · as of February 2 | 548 |
Risks flagged
February typically a seasonally weak month due to Chinese New Year
“February 2026 delivery of 26,421 vehicles; no prior year comparison provided”
27 Feb 20266-KIssuance of 22,642,000 Class A ordinary shares (1.27% of outstanding) for ADS bulk issuance under equity plans; increases share count modestly.share dilutionopen
Risks flagged
Modest share dilution from equity plan issuances; limited impact given small percentage.
“22,642,000 shares issued, representing 1.27% of existing issued shares.”
2 Feb 20266-KLi Auto delivered 27,668 vehicles in January 2026, cumulative deliveries reached 1,567,883. Monthly delivery update, no financial results or guidance.earningsopen
Figures in the filing · each found in the filing text
| deliveries · January 2026 | 27,668 | |
| cumulative deliveries · as of January 31 | 1,567,883 | |
| retail stores · as of January 31 | 547 | |
| servicing centers · as of January 31 | 547 | |
| super charging stations · as of January 31 | 3,966 | |
| charging stalls · as of January 31 | 21,945 |
2 Jan 20266-KLi Auto delivered 44,246 vehicles in December 2025, Q4 deliveries 109,194, cumulative 1,540,215. Monthly delivery update.earningsopen
Figures in the filing · each found in the filing text
| deliveries · December 2025 | 44,246 | |
| Q4 deliveries · Q4 2025 | 109,194 | |
| cumulative deliveries · as of December 3 | 1,540,215 | |
| retail stores · as of December 3 | 548 | |
| servicing centers · as of December 3 | 561 | |
| super charging stations · as of December 3 | 3,907 | |
| charging stalls · as of December 3 | 21,651 |
1 Dec 20256-KLi Auto November 2025 delivery update: 33,181 vehicles delivered, cumulative deliveries 1,495,969. Monthly production capacity for Li i6 expected to reach 20,000 units by early next year. OTA 8.1 planned.earningsopen
Figures in the filing · each found in the filing text
| Deliveries · November 2025 | 33,181 | |
| Cumulative deliveries · as of November 3 | 1,495,969 | |
| Retail stores · as of November 3 | 544 | |
| Super charging stations · as of November 3 | 3,614 |
Risks flagged
No material risks identified in this monthly update
26 Nov 20256-KLi Auto Q3 2025: revenue RMB27.4B (-36.2% YoY), deliveries 93,211 (-39% YoY), vehicle margin 15.5% (down from 20.9% YoY), net loss RMB624.4M vs net income RMB2.8B YoY. Free cash flow negative RMB8.9B. Recall costs impacted margin.open
Figures in the filing · each found in the filing text
| Deliveries · Q3 2025 | 93,211 | -39% y/y |
| Vehicle margin · Q3 2025 | 15.5% | |
| Gross margin · Q3 2025 | 16.3% | |
| Operating margin · Q3 2025 | -4.3% |
Risks flagged
Significant demand decline: deliveries down 39% YoY, revenue down 36% YoY
“Total deliveries for the third quarter of 2025 were 93,211 vehicles, representing a 39.0% year-over-year decrease” · word for word
Margin compression: vehicle margin down 5.4 percentage points YoY, gross margin down 5.2 percentage points
“Vehicle margin was 15.5% in the third quarter of 2025, compared with 20.9% in the third quarter of 2024” · word for word
Negative free cash flow worsening: negative RMB8.9B vs positive RMB9.1B YoY
“Free cash flow was negative RMB8.9 billion (US$1.3 billion) in the third quarter of 2025, compared with RMB9.1 billion in the third quarter of 2024” · word for word
Recall costs impacting margins: Li MEGA recall estimated costs reduced vehicle margin by 4.3 percentage points
“Excluding the impact of estimated costs related to the recall of Li MEGA, vehicle margin would have been 19.8% in the third quarter of 2025” · word for word
3 Nov 20256-KLi Auto Inc. October 2025 delivery update: 31,767 vehicles delivered, cumulative deliveries 1,462,788. Li i6 orders exceed 70,000. Global expansion with first overseas store in Uzbekistan.earningsopen
Figures in the filing · each found in the filing text
| Deliveries · October 2025 | 31,767 | |
| Cumulative deliveries · As of October 31 | 1,462,788 | |
| Retail stores · As of October 31 | 551 | |
| Super charging stations · As of October 31 | 3,508 |
Risks flagged
Global expansion introduces execution and regulatory risks in new markets.
“Company plans to prioritize market expansion in Central Asia, Middle East, Europe, and Asia-Pacific.” · word for word
Li Auto Inc. — questions
- What did Li Auto Inc. file recently?
- 61 SEC filings in the last 12 months. Latest: 6-K on 2026-10-16 — Li Auto subsidiary MHX Technology raises RMB1.625B equity financing from external investors for chip and domain controller business; Li Auto retains control.
Every figure on this page comes from Li Auto Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.