LI AUTO(US:LI) Bei Jing Ri Bao Ke Hu Duan·2025-08-29 06:55Core Insights - Li Auto reported its Q2 2025 financial results, achieving a delivery volume of 111,074 vehicles and a revenue of 30.2 billion yuan, marking a 16.7% increase from Q1 [1] - The company recorded a net profit of 1.1 billion yuan, a significant 69.6% increase from the previous quarter, maintaining profitability for 11 consecutive quarters [1] - Li Auto is the first profitable company among new energy vehicle manufacturers, with R&D expenses in Q2 reaching 2.8 billion yuan, and an expected total R&D expenditure of 12 billion yuan for the year, including over 6 billion yuan for AI technology [1] Financial Performance - Q2 delivery volume: 111,074 vehicles [1] - Q2 revenue: 30.2 billion yuan, up 16.7% from Q1 [1] - Q2 net profit: 1.1 billion yuan, up 69.6% from Q1 [1] - Cash reserves as of the end of Q2: 106.9 billion yuan [1] R&D and Infrastructure - Q2 R&D expenses: 2.8 billion yuan [1] - Expected total R&D expenses for the year: 12 billion yuan [1] - AI technology investment expected to exceed 6 billion yuan [1] - Nationwide charging network: over 3,100 supercharging stations and more than 17,000 supercharging piles [1] Market Position and Challenges - Li Auto remains a leader among new energy vehicle manufacturers despite recent challenges with the launch of the Li i8 electric SUV, which has not met market expectations [1] - The company aims to enhance user satisfaction for the i8, which currently has a 97% satisfaction rate from test drives, with a target of over 8,000 cumulative deliveries by September [2] - The second electric SUV, Li i6, is set to launch and deliver in September, alongside the rollout of the VLA driver model, which features advanced capabilities [2]