智通财经网·2026-03-13 01:38Core Viewpoint - Li Auto's stock has dropped over 3% following the release of its financial results, indicating market concerns about the company's performance and future outlook [1] Financial Performance - For Q4 2025, Li Auto reported total revenue of 28.8 billion yuan, a year-on-year decrease of 35.0% but a quarter-on-quarter increase of 5.2% [1] - The net profit for Q4 2025 was 20.2 million yuan, a significant decline of 99.4% compared to the net profit of 3.5 billion yuan in the same period last year [1] - For the full year, total revenue was 112.3 billion yuan, down 22.3% year-on-year, while net profit was 1.1 billion yuan, reflecting an 85.8% decrease [1] Delivery Volume - In Q4 2025, the total vehicle delivery volume was approximately 109,200 units, a year-on-year decrease of 31.2% [1] - The total delivery volume for the year was about 406,300 units, an 18.82% decline compared to 500,500 units delivered in 2024 [1] Future Outlook - For Q1 2026, Li Auto expects vehicle delivery volume to be between 85,000 and 90,000 units, representing a year-on-year decrease of 3.1% to 8.5% [1] - The projected total revenue for Q1 2026 is estimated to be between 20.4 billion and 21.6 billion yuan, a year-on-year decrease of 16.7% to 21.3% [1] Stock Buyback Discussion - During the earnings call, Li Auto addressed rumors regarding a potential stock buyback, acknowledging that it is a consideration to enhance shareholder value, but stated that no buyback has been initiated and no further information is available [1]