Li Auto released its unaudited financial results for the second quarter of 2026, reporting 98,330 vehicle deliveries for the period, down 11.5% from a year earlier.
Automotive sales revenue reached RMB 24.1 billion, down 16.7% year over year but up 11.8% from the previous quarter. Total revenue came in at RMB 25.7 billion, down 15.1% from a year earlier and up 11.7% quarter over quarter.
Margins and losses
For the quarter, Li Auto reported a vehicle margin of 9.4%. Gross profit totaled RMB 2.8 billion, with an overall gross margin of 11.0%.
The company posted an operating loss of RMB 2.3 billion, a net loss of RMB 1.7 billion, and a non-GAAP net loss of RMB 1.5 billion.
Store, service, and charging network
As of June 30, 2026, Li Auto operated 495 retail stores across 160 cities in China. It also had 536 servicing centers and authorized body and paint shops covering 220 cities.
Its charging network included 4,097 super charging stations and 22,593 charging stalls.
Share repurchases and recent delivery updates
During the second quarter, the company repurchased about 41.23 million Class A ordinary shares and 9.49 million ADSs.
On recent operations, Li Auto started deliveries of the new Li L8 in June 2026 and began deliveries of the new Li L6 in July. The company said July deliveries reached 30,468 vehicles.
Executive comments
Chief Executive Officer Li Xiang said that in the first half of the year, Li Auto remained the leading domestic brand by sales in China’s new energy vehicle market priced above RMB 200,000. He added that the company had completed upgrades to the L series and was advancing a refresh of its battery electric product line.
Chief Financial Officer Li Tie said gross margin improved from the prior quarter and is expected to expand in the second half of the year as product mix improves and operating efficiency rises. The company said it will keep its focus on user-oriented products, in-house technology development, and global expansion, while balancing growth and profitability.