Li Auto Inc ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Li Auto Inc ADR reported revenue of $112.3B (-22.3% year on year) and net income of $1.1B (-85.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $112.3B | $144.5B | $123.9B | $45.3B |
| Total cost of sales | ($91.3B) | ($114.8B) | ($96.4B) | ($36.5B) |
| Gross profit | $21.0B | $29.7B | $27.5B | $8.8B |
| Research and development | ($11.3B) | ($11.1B) | ($10.6B) | ($6.8B) |
| Selling, general and administrative | ($10.7B) | ($12.2B) | ($9.8B) | ($5.7B) |
| Other operating income, net | $473.6M | $663.7M | $264.2M | — |
| Total operating expenses | ($21.5B) | ($22.6B) | ($20.1B) | ($12.4B) |
| Income/(Loss) from operations | ($521.1M) | $7.0B | $7.4B | ($3.7B) |
| Interest expense | ($168.1M) | ($187.8M) | ($86.3M) | ($106.3M) |
| Interest income and investment income, net | $1.9B | $1.8B | $2.1B | $976.2M |
| Others, net | $67.4M | $664.3M | $1.0B | $625.6M |
| Income before income tax | $1.3B | $9.3B | $10.5B | ($2.2B) |
| Income tax benefit/(expense) | ($157.7M) | ($1.3B) | $1.4B | $127.0M |
| Net income | $1.1B | $8.0B | $11.8B | ($2.0B) |
| Net income attributable to ordinary shareholders of Li Auto Inc. | $1.1B | $8.0B | $11.7B | ($2.0B) |
| Basic (in shares) | 2.0B | 2.0B | 2.0B | 1.9B |
| Diluted (in shares) | 2.1B | 2.1B | 2.1B | 1.9B |
| Basic earnings (in per share) | $0.56 | $4.03 | $5.95 | -$1.04 |
| Diluted earnings (in per share) | $0.54 | $3.79 | $5.55 | -$1.04 |
| Foreign currency translation adjustment, net of nil tax | ($653.4M) | $53.1M | ($30.8M) | $1.3B |
| Total other comprehensive (loss)/income | ($653.4M) | $53.1M | ($30.8M) | $1.3B |
| Total comprehensive income | $486.0M | $8.1B | $11.8B | ($704.6M) |
| Less: Net income attributable to noncontrolling interests | $15.0M | $12.9M | $105.0M | ($20.1M) |
| Comprehensive income attributable to ordinary shareholders of Li Auto Inc. | $471.0M | $8.1B | $11.7B | ($684.5M) |
| Line item | Sep 30, 2022 · YTD |
|---|---|
| Total revenues | $27.6B |
| Total cost of sales | ($22.4B) |
| Gross profit | $5.2B |
| Research and development | ($4.7B) |
| Selling, general and administrative | ($4.0B) |
| Total operating expenses | ($8.7B) |
| Loss from operations | ($3.5B) |
| Interest expense | ($67.9M) |
| Interest income and investment income, net | $720.5M |
| Others, net | $540.9M |
| Loss before income tax expense | ($2.3B) |
| Income tax (expense)/benefit | $30.2M |
| Net loss | ($2.3B) |
| Net loss attributable to ordinary shareholders of Li Auto Inc. | ($2.3B) |
| Basic | 1.9B |
| Diluted | 1.9B |
| Basic | -$1.17 |
| Diluted | -$1.17 |
| Foreign currency translation adjustment, net of tax | $1.3B |
| Total other comprehensive (loss)/income | $1.3B |
| Total comprehensive loss | ($1.0B) |
| Less: Net loss attributable to noncontrolling interests | ($28.5M) |
| Comprehensive loss attributable to ordinary shareholders of Li Auto Inc. | ($983.5M) |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $56.7B | $65.9B | $91.3B | $38.5B |
| Restricted cash | $216.3M | $6.8M | $479.0K | $1.9B |
| Time deposits and shortterm investments | $44.3B | $46.9B | $11.9B | $18.0B |
| Trade receivable, net of allowance for credit losses of RMB561 and RMB1,747 as of December 31, 2024 and 2025, respectively | $119.8M | $135.1M | $143.5M | $48.4M |
| Inventories | $8.8B | $8.2B | $6.9B | $6.8B |
| Prepayments and other current assets, net of allowance for credit losses of RMB3,464 and RMB4,831 as of December 31, 2024 and 2025, respectively | $5.2B | $5.2B | $4.2B | $1.7B |
| Total current assets | $115.3B | $126.3B | $114.5B | $67.0B |
| Longterm investments | $848.7M | $922.9M | $1.6B | $1.5B |
| Property, plant and equipment, net | $22.8B | $21.1B | $15.7B | $11.2B |
| Operating lease rightofuse assets, net | $9.1B | $8.3B | $5.9B | $3.5B |
| Intangible assets, net | $1.2B | $915.0M | $864.2M | $832.6M |
| Goodwill | $5.5M | $5.5M | $5.5M | $5.5M |
| Deferred tax assets | $3.3B | $2.5B | $2.0B | $74.8M |
| Other noncurrent assets, net of allowance for credit losses of RMB5,544 and RMB4,912 as of December 31, 2024 and 2025, respectively | $1.8B | $2.2B | $2.8B | $2.4B |
| Total noncurrent assets | $39.0B | $36.0B | $28.9B | $19.5B |
| Total assets | $154.3B | $162.3B | $143.5B | $86.5B |
| Short-term borrowings | $6.2B | $281.1M | $7.0B | $390.8M |
| Trade and notes payable | $40.6B | $53.6B | $51.9B | $20.0B |
| Amounts due to related parties | $26.6M | $11.5M | $10.6M | $7.2M |
| Deferred revenue, current | $1.6B | $1.4B | $1.5B | $569.2M |
| Operating lease liabilities, current | $1.7B | $1.4B | $1.1B | $696.5M |
| Finance lease liabilities, current | $0 | $95.2M | — | — |
| Accruals and other current liabilities | $13.4B | $12.4B | $11.2B | $5.7B |
| Total current liabilities | $63.5B | $69.2B | $72.7B | $27.4B |
| Long-term borrowings | $3.3B | $8.2B | $1.7B | $9.2B |
| Deferred revenue, non-current | $624.7M | $720.5M | $812.2M | $581.6M |
| Operating lease liabilities, noncurrent | $6.3B | $5.7B | $3.7B | $1.9B |
| Finance lease liabilities, non-current | $348.5M | $643.0M | — | — |
| Deferred tax liabilities | $691.7M | $865.0M | $200.9M | $77.8M |
| Other noncurrent liabilities | $6.4B | $5.7B | $3.7B | $2.1B |
| Total noncurrent liabilities | $17.6B | $21.8B | $10.1B | $14.0B |
| Total liabilities | $81.2B | $91.0B | $82.9B | $41.4B |
| Ordinary shares | 1.5M | 1.4M | 1.4M | 1.4M |
| Treasury shares | -73.0K | -74.0K | -90.0K | -84.0K |
| Additional paid-in capital | $61.4B | $60.1B | $57.5B | $53.9B |
| Accumulated other comprehensive loss | ($825.2M) | ($171.7M) | ($224.9M) | ($194.1M) |
| Statutory reserves | $866.7M | $758.5M | $444.6M | — |
| Retained earnings | $11.2B | $10.2B | $2.4B | ($8.8B) |
| Total Li Auto Inc. shareholders' equity | $72.6B | $70.9B | $60.1B | $44.9B |
| Noncontrolling interests | $520.5M | $445.5M | $432.6M | $327.6M |
| Total shareholders' equity | $73.1B | $71.3B | $60.6B | $45.2B |
| Total liabilities and shareholders' equity | $154.3B | $162.3B | $143.5B | $86.5B |
| Line item | Sep 30, 2022 |
|---|---|
| Cash and cash equivalents | $37.5B |
| Restricted cash | $3.1B |
| Time deposits and short-term investments | $14.5B |
| Trade receivable, net of allowance for credit losses of RMB467, and RMB149 as of December 31, 2021 and September 30, 2022, respectively | $32.6M |
| Inventories | $5.5B |
| Prepayments and other current assets, net of allowance for credit losses of RMB2,192, and RMB14,172 as of December 31, 2021 and September 30, 2022, respectively | $1.5B |
| Total current assets | $62.1B |
| Long-term investments | $1.5B |
| Property, plant and equipment, net | $9.4B |
| Operating lease right-of-use assets, net | $3.3B |
| Intangible assets, net | $832.0M |
| Deferred tax assets | $11.5M |
| Other non-current assets, net of allowance for credit losses of RMB3,757, and RMB7,468 as of December 31, 2021 and September 30, 2022, respectively | $2.2B |
| Total non-current assets | $17.2B |
| Total assets | $79.2B |
| Short-term borrowings | $528.1M |
| Trade and notes payable | $15.5B |
| Amounts due to related parties | $7.3M |
| Deferred revenue, current | $522.6M |
| Operating lease liabilities, current | $707.1M |
| Accruals and other current liabilities | $4.6B |
| Total current liabilities | $21.9B |
| Long-term borrowings | $9.0B |
| Deferred revenue, noncurrent | $584.6M |
| Operating lease liabilities, noncurrent | $1.7B |
| Deferred tax liabilities | $84.3M |
| Other noncurrent liabilities | $1.8B |
| Total noncurrent liabilities | $13.2B |
| Total liabilities | $35.1B |
| Ordinary shares | 1.4M |
| Treasury Shares | -84.0K |
| Additional paid-in capital | $53.2B |
| Accumulated other comprehensive loss | ($236.2M) |
| Accumulated deficit | ($9.1B) |
| Total Li Auto Inc. shareholders' equity | $43.9B |
| Noncontrolling interests | $290.2M |
| Total shareholders' equity | $44.1B |
| Total liabilities and shareholders' equity | $79.2B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $1.1B | $8.0B | $11.8B | ($2.0B) |
| Depreciation of property, plant and equipment, amortization of intangible assets and operating lease cost related to land use rights | $4.6B | $3.1B | $1.8B | $1.2B |
| Share-based compensation expenses | $1.3B | $2.6B | $2.4B | $2.1B |
| Foreign exchange loss/(gain) | ($3.0M) | $24.9M | $14.9M | $2.9M |
| Interest and investment (income)/loss, net | $30.6M | ($231.3M) | ($255.5M) | $9.4M |
| Interest expense | $47.8M | $72.0M | $18.5M | $29.6M |
| Share of loss of equity method investees | $1.4M | $4.3M | $9.5M | $10.4M |
| Inventory write-downs and losses on purchase commitments relating to inventory | $243.0M | $335.9M | $236.7M | $1.1B |
| Allowance for credit losses | $1.9M | $1.3M | ($1.1M) | $2.9M |
| Deferred income tax benefit | ($925.5M) | ($49.8M) | ($1.8B) | ($128.3M) |
| (Gain)/Loss on disposal of property, plant and equipment | $86.1M | ($28.1M) | ($131.0M) | $55.9M |
| Prepayments and other current assets | $78.0M | ($238.6M) | ($2.4B) | ($1.2B) |
| Inventories | ($2.6B) | ($3.1B) | ($1.2B) | ($5.9B) |
| Operating lease right-of-use assets | ($787.4M) | ($2.1B) | ($2.2B) | ($766.7M) |
| Other non-current assets | $82.7M | $102.9M | $363.7M | ($745.3M) |
| Trade receivable | $14.1M | $8.2M | ($95.1M) | $72.2M |
| Deferred revenue | $129.1M | ($220.7M) | $1.2B | $5.0M |
| Operating lease liabilities | $770.2M | $2.2B | $2.2B | $799.8M |
| Trade and notes payable | ($13.0B) | $2.2B | $31.8B | $10.6B |
| Amounts due to related parties | $15.2M | $885.0K | $3.4M | ($30.3M) |
| Accruals and other current liabilities | ($715.2M) | $1.5B | $5.3B | $1.2B |
| Finance lease liabilities | ($56.6M) | ($6.0M) | — | — |
| Other non-current liabilities | $939.9M | $1.7B | $1.6B | $1.0B |
| Net cash provided by/(used in) operating activities | ($8.6B) | $15.9B | $50.7B | $7.4B |
| Purchase of property, plant and equipment and intangible assets and land use rights | ($4.2B) | ($7.7B) | ($6.5B) | ($5.1B) |
| Disposal of property, plant and equipment | $1.3B | $970.2M | $284.0M | $4.5M |
| Purchase of long-term investments | ($60.6M) | ($31.3M) | ($198.2M) | ($713.8M) |
| Disposal of long-term investments | $127.8M | $43.0M | — | — |
| Placement of time deposits | ($75.8B) | ($54.7B) | ($19.1B) | ($679.5M) |
| Redemption of time deposits | $78.0B | $24.7B | $9.2B | $514.2M |
| Placement of short-term investments | ($32.4B) | ($12.9B) | ($14.8B) | ($58.3B) |
| Redemption of short-term investments | $32.3B | $8.4B | $31.1B | $60.0B |
| Net cash (used in)/provided by investing activities | ($703.1M) | ($41.1B) | ($12.1M) | ($4.4B) |
| Proceeds from share issuance through the ATM Offering, net of issuance cost | $0 | $0 | $1.2B | $2.5B |
| Proceeds from exercise of share options and vesting of RSUs | 14.7M | 14.7M | 12.0M | — |
| Proceeds from borrowings | $1.6B | $471.3M | $1.8B | $3.7B |
| Repayment of borrowings | ($279.5M) | ($996.2M) | ($2.8B) | ($661.1M) |
| Capital injection from noncontrolling interest | $60.0M | $0 | $0 | $90.0M |
| Repayment of principal on finance lease obligation | ($664.0M) | — | — | — |
| Proceeds from debt from third party investors | $0 | $94.6M | — | — |
| Net cash provided by/(used in) financing activities | $767.4M | ($415.6M) | $185.4M | $5.6B |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | ($452.8M) | $198.1M | $44.5M | $1.3B |
| Net change in cash, cash equivalents and restricted cash | ($9.0B) | ($25.4B) | $50.9B | $9.9B |
| Cash, cash equivalents and restricted cash at beginning of the year | $65.9B | $91.3B | $40.4B | $30.5B |
| Cash, cash equivalents and restricted cash at end of the year | $56.9B | $65.9B | $91.3B | $40.4B |
| Line item | Sep 30, 2022 · YTD |
|---|---|
| Net loss | ($2.3B) |
| Depreciation and amortization | $785.3M |
| Share-based compensation expenses | $1.4B |
| Foreign exchange loss | $14.2M |
| Unrealized investment loss/(income) | ($8.4M) |
| Interest expense | $20.2M |
| Share of loss of equity method investees | $7.5M |
| Impairment loss related to the property, plant and equipment | $0 |
| Inventory write-downs and losses on purchase commitments relating to inventory | $802.8M |
| Allowance for credit losses | $15.4M |
| Deferred income tax, net | ($61.1M) |
| Loss on disposal of property, plant and equipment | $53.8M |
| Prepayments and other current assets | ($988.2M) |
| Inventories | ($4.2B) |
| Operating lease rightofuse assets | ($505.3M) |
| Operating lease liabilities | $607.5M |
| Other non-current assets | ($460.8M) |
| Trade receivable | $87.4M |
| Deferred revenue | ($16.6M) |
| Trade and notes payable | $5.6B |
| Amounts due to related parties | ($30.1M) |
| Accruals and other current liabilities | $944.6M |
| Other noncurrent liabilities | $667.8M |
| Net cash provided by operating activities | $2.5B |
| Purchase of property, plant and equipment and intangible assets | ($3.5B) |
| Disposal of property, plant and equipment | $760.0K |
| Purchase of longterm equity investments | ($663.1M) |
| Placement of long-term time deposits | ($679.5M) |
| Redemption of short-term time deposits | $514.2M |
| Placement of short-term financial investment | ($44.2B) |
| Redemption of short-term financial investment | $49.5B |
| Placement of long-term financial investment | ($50.0M) |
| Cash paid related to acquisition of Chongqing Zhizao Automobile Co., Ltd. ("Chongqing Zhizao"), net of cash acquired | $0 |
| Net cash provided by investing activities | $943.6M |
| Proceeds from issuance of convertible debt | $0 |
| Proceeds from share issuance through an at-the-market equity offering program (the "ATM Offering") | $2.5B |
| Proceeds from exercise of stock options and vesting of RSUs | $5.7M |
| Proceeds from borrowings | $3.0B |
| Payment of borrowings | ($149.8M) |
| Proceeds from issue ordinary shares | 0 |
| Payment of issuance costs | ($837.0K) |
| Capital injection from noncontrolling interest | $90.0M |
| Proceeds from Hong Kong IPO, net of issuance cost | $0 |
| Net cash provided by financing activities | $5.4B |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | $1.3B |
Li Auto Inc ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.