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Li Auto, Inc. Class A
(2015)
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Rating:48Neutral
Price Target:
HK$43.00
▼(-11.52% Downside)
Action:Reiterated
Date:09/06/26
Overall score is held back primarily by deteriorating financial performance (negative margins and significant cash burn) despite a still-reasonable balance sheet. Technicals add pressure with the price below key moving averages and negative MACD. Valuation is difficult to support using earnings due to the negative P/E and no provided dividend yield.
Positive Factors
Balance sheet cushion
Moderate leverage and a substantial equity base provide Li Auto with some financial cushion while it navigates weaker profitability. The balance sheet can support continued operations and investment better than a highly levered structure, although capital efficiency remains important.
Negative Factors
Revenue and margin deterioration
Recent contraction in revenue alongside negative net and EBIT margins signals pressure on demand, pricing, product mix, or cost absorption. If this persists, lower operating leverage can weaken earnings recovery and reduce the funds available for product development, distribution, and service expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet cushion
Moderate leverage and a substantial equity base provide Li Auto with some financial cushion while it navigates weaker profitability. The balance sheet can support continued operations and investment better than a highly levered structure, although capital efficiency remains important.
Read all positive factors
Li Auto, Inc. Class A (2015) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$91.60B
Dividend YieldN/A
Average Volume (3M)7.34M
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue Growth-24.50%
EPS Growth-159.09%
CountryHK
Employees30,728
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-2.27
Shares Outstanding1,818,325,100
10 Day Avg. Volume6,986,919
30 Day Avg. Volume7,340,480
Financial Highlights & Ratios
PEG Ratio-1.23
Price to Book (P/B)1.62
Price to Sales (P/S)1.07
P/FCF Ratio-9.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$58.28Price Target Upside19.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)-2.2
Revenue Forecast (FY)HK$131.67B
Li Auto, Inc. Class A Business Overview & Revenue Model
Company Description
Operating within the People's Republic of China, Li Auto Inc. and its affiliated companies specialize in the conceptualization, engineering, manufacturing, and distribution of new energy vehicles. A prominent product is the Li ONE, a sophisticated...
How the Company Makes Money
Li Auto primarily makes money by selling vehicles directly to customers, with automotive sales representing the main revenue stream. Vehicle revenue is generated from the retail price of each vehicle delivered and typically includes related compon...
Li Auto, Inc. Class A Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
70
Positive
Cash Flow
36
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 104.05B | 109.41B | 144.46B | 123.85B | 45.29B | 27.01B |
| Gross Profit | 14.14B | 20.44B | 29.66B | 27.50B | 8.79B | 5.76B |
| EBITDA | -3.46B | 3.67B | 10.08B | 9.21B | -839.16M | 500.83M |
| Net Income | -4.58B | 1.10B | 8.03B | 11.70B | -2.01B | -321.45M |
Balance Sheet | ||||||
| Total Assets | 140.65B | 154.36B | 162.35B | 143.47B | 86.54B | 61.85B |
| Cash, Cash Equivalents and Short-Term Investments | 85.59B | 101.28B | 112.81B | 103.26B | 56.51B | 47.52B |
| Total Debt | 29.99B | 17.82B | 16.34B | 13.55B | 12.26B | 7.84B |
| Total Liabilities | 74.70B | 80.75B | 91.03B | 82.89B | 41.35B | 20.78B |
| Stockholders Equity | 65.95B | 72.65B | 70.87B | 60.14B | 44.86B | 41.06B |
Cash Flow | ||||||
| Free Cash Flow | -15.13B | -12.82B | 8.20B | 44.19B | 2.25B | 4.90B |
| Operating Cash Flow | -9.95B | -8.61B | 15.93B | 50.69B | 7.38B | 8.34B |
| Investing Cash Flow | 5.22B | -703.13M | -41.14B | -12.07M | -4.36B | -4.26B |
| Financing Cash Flow | -4.37B | 767.40M | -415.65M | 185.38M | 5.64B | 16.71B |
Li Auto, Inc. Class A Technical Analysis
Negative
48.60
Price Trends
46.26
Negative
48.30
Negative
58.24
Negative
Market Momentum
-0.50
Negative
43.16
Neutral
26.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2015, the sentiment is Negative. The current price of 48.6 is above the 20-day moving average (MA) of 44.33, above the 50-day MA of 46.26, and below the 200-day MA of 58.24, indicating a bearish trend. The MACD of -0.50 indicates Negative momentum. The RSI at 43.16 is Neutral, neither overbought nor oversold. The STOCH value of 26.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2015.
Li Auto, Inc. Class A Risk Analysis
Li Auto, Inc. Class A disclosed 110 risk factors in its most recent earnings report. Li Auto, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We are a “controlled company” within the meaning of the Nasdaq Stock Market Rules and, as a result, may rely on exemptions from certain corporate governance requirements that provide protection to shareholders of other companies. Q4, 2023
2.
We had net losses in the past, which may happen again in the future. Q4, 2023
3.
We may face challenges in expanding our business and operations internationally and our ability to conduct business in international markets may be adversely affected by legal, regulatory, political, and economic risks. Q4, 2023
Li Auto, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$153.95B | 7.83 | 17.21% | 3.52% | 34.63% | 6.58% | |
59 Neutral | HK$120.33B | 20.06 | 6.90% | 6.00% | 19.18% | -48.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | HK$736.18B | 25.62 | 12.56% | 0.58% | -5.22% | -30.07% | |
53 Neutral | HK$70.06B | -19.29 | -10.72% | ― | 29.34% | 23.96% | |
48 Neutral | HK$91.60B | -16.73 | -6.52% | ― | -24.50% | -159.09% | |
45 Neutral | HK$64.08B | -10.43 | -108.58% | ― | 70.16% | 82.65% |
* General Sector Average
HK:2015
Li Auto, Inc. Class A
44.64
-36.96
-45.29%
HK:1211
BYD Co
70.45
-33.85
-32.46%
HK:0175
Geely Automobile Holdings
14.19
-4.24
-23.01%
HK:2333
Great Wall Motor Co
6.70
-8.23
-55.11%
HK:9866
NIO Inc. Class A
25.56
-29.59
-53.65%
HK:9868
XPeng, Inc. Class A
36.56
-51.84
-58.64%
Li Auto, Inc. Class A Corporate Events
Li Auto Ramps Up Deliveries and Unveils European Debut as Network Expands
Oct 1, 2026
Li Auto reported delivering 31,817 vehicles in September 2026, bringing its cumulative deliveries to 1,833,651, underlining its rapid scale-up in China’s competitive new energy vehicle sector. The company delivered over 10,000 units of its n...
Li Auto Boosts Deliveries and Unveils New Flagship EVs Amid Network Expansion
Sep 1, 2026
Li Auto reported August 2026 deliveries of 37,679 vehicles, taking its cumulative deliveries to 1,801,834 since the start of production in late 2019, underscoring its rapid scale-up in China’s premium NEV segment. The company operates an ext...
Li Auto Warns Investors as It Publishes Unaudited Q2 2026 Results
Aug 26, 2026
Li Auto Inc. has released its unaudited condensed consolidated financial results for the quarter ended June 30, 2026, prepared under U.S. GAAP and filed in line with U.S. and Hong Kong regulatory requirements. The company notes that these Q2 resul...
Li Auto Boosts July Deliveries as Li L9 Surpasses 300,000 Units
Aug 2, 2026
Li Auto reported July 2026 deliveries of 30,468 vehicles, bringing cumulative deliveries to 1,764,155 units since launch in 2019, underscoring its scale in China’s fast-growing NEV segment. The company launched the new Li L6 SUV, saw Li L9 c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.