LI AUTO(US:LI) Zhong Guo Jin Rong Xin Xi Wang·2025-09-02 03:37Core Insights - Li Auto reported a revenue of 30.2 billion yuan for Q2 2025, a 16.7% increase from Q1, with a net profit of 1.1 billion yuan, marking a 69.6% growth [1] - The company achieved a delivery volume of 111,074 vehicles in Q2, up 19.6% from Q1, maintaining its leading position among new energy vehicle manufacturers [1] Financial Performance - Q2 revenue reached 30.2 billion yuan, a 16.7% increase from Q1 [1] - Net profit for Q2 was 1.1 billion yuan, a 69.6% increase from Q1, marking 11 consecutive quarters of profitability [1] - Operating profit for Q2 was 827 million yuan, a significant increase of 204.4% from Q1 [1] Market Position - Li Auto maintained a 13.6% market share in the Chinese new energy vehicle market priced above 200,000 yuan, leading in sales [2] - The Li L series ranked first in sales in the mid-to-high-end SUV market above 200,000 yuan for the first seven months of 2025 [2] - The Li MEGA model achieved dual sales championships in the luxury MPV and pure electric vehicle categories priced above 500,000 yuan [2] Product Development - The Li i8, a six-seat pure electric SUV, is expected to surpass 8,000 cumulative deliveries by the end of September [4] - The company plans to launch the Li i6 in September, expanding its product matrix to include four extended-range electric SUVs and two high-pressure pure electric SUVs [4] R&D Investment - R&D expenditure for Q2 was 2.8 billion yuan, with an expected total of 12 billion yuan for the year [6] - The company plans to invest over 6 billion yuan in artificial intelligence this year, enhancing its technological capabilities [6] - Li Auto is set to launch the VLA driver model in September, improving its smart driving and cockpit technologies [6] Technological Advancements - Li Auto has developed core technologies including self-developed silicon carbide power chips and modules, enhancing electric drive performance [7] - The company has established a comprehensive industrial layout for electric drive systems, focusing on self-research and production capabilities [7] Sales and Service Strategy - Li Auto upgraded its sales service system to enhance user value and support rapid growth [8] - The company has restructured its sales organization to improve operational efficiency and service quality [8] - As of mid-2025, Li Auto's cash reserves reached 106.9 billion yuan, providing a solid foundation for R&D and network expansion [8] Charging Infrastructure - Li Auto has built over 3,100 supercharging stations with more than 17,000 charging piles, ensuring charging accessibility for users [9] - The company plans to establish 4,000 supercharging stations by the end of 2025 to alleviate range anxiety for electric vehicle users [10]