Li Auto reported a 35% year-over-year decline in fourth-quarter revenue to 28.8 billion yuan. This figure missed analyst estimates as the company faced intense market competition. Net profit for the period plummeted to 6.5 million yuan from 3.52 billion yuan a year earlier. Vehicle deliveries fell 31% to 109,194 units.
The company issued a weak outlook for the first quarter of 2026. Li Auto projects vehicle deliveries between 85,000 and 90,000 units. Revenue guidance for the quarter is set between 20.4 billion and 21.6 billion yuan. This forecast fell short of analyst consensus, reflecting slowing demand and a poor reception for the company's pure electric models.
Li Auto’s American depositary receipts fell approximately 3.2% in pre-market trading following the announcement. The automaker reportedly plans to refocus on its core extended-range vehicle business to navigate the Chinese EV market. This strategic shift follows the disappointing financial results for the fourth quarter and full-year 2025.