理想汽车结束连续11季度盈利

Core Insights - The core viewpoint of the article highlights that Li Auto's third-quarter financial results show a decline in revenue and deliveries, marking the end of 11 consecutive profitable quarters, prompting a strategic shift back to a startup model from a professional management approach [1] Financial Performance - In the third quarter, Li Auto reported total revenue of RMB 27.4 billion, a decrease of 36.2% compared to RMB 42.9 billion in the same quarter of 2024, and a 9.5% decrease from RMB 30.2 billion in the second quarter of 2025 [1] - The total delivery volume for the third quarter was 93,200 vehicles, representing a year-on-year decrease of 39.0% [1] - The net loss for the third quarter was RMB 624 million, contrasting with a net profit of RMB 2.8 billion in the same period last year [1] - In the second quarter of this year, the company achieved a net profit of RMB 1.1 billion, marking its 11th consecutive profitable quarter [1] Strategic Shift - Li Auto's founder, Li Xiang, indicated during the earnings call that the company will revert to a startup model starting in the fourth quarter, as the previous professional management structure did not align with the current market environment and the company's actual situation [1] Cash Reserves - As of the end of the third quarter, Li Auto's cash reserves stood at RMB 98.9 billion, providing a solid financial foundation for continued investment in technology research and development, service network construction, and global expansion [1]