Ge Long Hui·2025-09-09 19:12Core Viewpoint - Li Auto's Q2 2025 performance shows a mixed picture with revenue of 30.25 billion yuan, a slight decline year-on-year, but a notable increase quarter-on-quarter, while net profit demonstrates significant growth year-on-year [1][2] Group 1: Financial Performance - In Q2 2025, Li Auto achieved revenue of 30.25 billion yuan, with a year-on-year decrease of 4.5% and a quarter-on-quarter increase of 16.7% [1] - The company reported a net profit attributable to shareholders of 1.09 billion yuan, reflecting a year-on-year decrease of 0.9% but a quarter-on-quarter increase of 68.0% [1][2] - The gross margin for Q2 2025 was 20.1%, with a vehicle gross margin of 19.4%, showing a year-on-year increase of 0.6 percentage points but a quarter-on-quarter decrease of 0.4 percentage points [2] Group 2: Sales and Production - Li Auto's Q2 2025 vehicle sales reached 111,000 units, with an average selling price of approximately 260,000 yuan, representing a year-on-year increase of 2.3% [1] - The sales breakdown by model includes 52,000 units of the L6, 26,000 units of the L7, 15,000 units of the L8, 14,000 units of the L9, and 3,000 units of the MEGA, with the L6 accounting for 47% of total sales [1] Group 3: Future Outlook - For Q3 2025, Li Auto expects delivery volumes to be between 90,000 and 95,000 units, indicating a year-on-year decline of 41.1% to 37.8% [2] - The company anticipates revenue in the range of 24.8 billion to 26.2 billion yuan for Q3 2025, reflecting a year-on-year decline of 42.1% to 38.8% [2] - Li Auto's future product lineup includes the launch of the Li i8 and Li i6, expanding its offerings to four range-extended electric SUVs and two high-voltage pure electric SUVs, which is expected to enhance sales potential [3] Group 4: Strategic Developments - As of July 2025, Li Auto has established 535 retail centers across 153 cities, with an increase in service and charging infrastructure, including 3,028 supercharging stations [3] - The company aims to enhance its product matrix and maintain profitability through high vehicle prices and economies of scale, projecting net profits of 3.14 billion, 8.48 billion, and 12.61 billion yuan for 2025 to 2027 [4]