Ge Long Hui·2025-07-10 02:27Core Viewpoint - Li Auto reported a total of 36,279 vehicle deliveries in June 2025, with a total of 111,074 deliveries in Q2 2025, indicating a short-term fluctuation in sales due to changes in the sales team [1] Group 1: Delivery and Sales Performance - In June 2025, Li Auto delivered 36,279 new vehicles, representing a year-on-year decrease of 24.1% and a month-on-month decrease of 11.2% [1] - The sales fluctuation is attributed to changes in the sales team, while product upgrades in May are expected to enhance product competitiveness [1] Group 2: Product Strategy and Launches - Li Auto is set to accelerate its high-voltage pure electric product offerings in H2 2025, with the launch of the six-seat pure electric SUV Li i8 in July and the five-seat pure electric SUV Li i6 in September [1] - The product lineup will include four range-extended electric SUVs, one flagship MPV, and two high-voltage pure electric SUVs, aiming to optimize the product matrix and improve sales [1] Group 3: AI Development and Capabilities - Li Auto is enhancing its AI capabilities, leveraging its computational power and data scale, with a strategic focus on accelerating AI investment and development [1] - The OTA 7.4 version update introduced a new virtual assistant, enhancing the vehicle's smart capabilities and enabling complex transactions [1] Group 4: Infrastructure and Service Network - As of June 30, 2025, Li Auto has established 530 retail centers across 151 cities and 511 after-sales service centers across 222 cities [1] - The company has deployed 2,851 Li Supercharging stations with 15,655 charging piles nationwide, ensuring a robust service ecosystem to support steady sales growth [1] Group 5: Financial Projections - Li Auto's projected revenues for 2025-2027 are 164.4 billion, 239.6 billion, and 300.8 billion yuan, with year-on-year growth rates of 13.8%, 45.7%, and 25.5% respectively [2] - The expected net profits for the same period are 9.6 billion, 12.81 billion, and 18.35 billion yuan, with growth rates of 19.6%, 33.4%, and 43.2% respectively [2] - Earnings per share (EPS) are projected to be 4.49, 5.98, and 8.57 yuan per share for 2025, 2026, and 2027 respectively [2]