LI AUTO(US:LI) 理想TOP2·2026-01-10 13:21Summary of Key Points Core Viewpoint - The company achieved a total delivery of 44,246 vehicles in December 2025, with significant contributions from both extended-range and pure electric models, indicating a strong market performance and growth trajectory in the electric vehicle sector [1][2]. Delivery Performance - Total deliveries in December 2025 reached 44,246, a notable increase from previous months, with extended-range vehicles accounting for 24,568 and pure electric vehicles for 19,678 [1][2]. - Monthly delivery data shows a consistent upward trend, with November 2025 at 33,181 and October 2025 at 31,767, reflecting a growth of approximately 33.5% from November to December [2]. - The breakdown of deliveries for specific models in December includes L6 at 12,676, IL7 at 6,150, IL8 at 3,010, and MEGA at 15,994, showcasing a diverse product lineup [1][2]. Recent Developments - The company released a technical report on MindGPT-4ov on December 2, 2025, indicating advancements in technology [2]. - On December 3, 2025, the company secured a debt financing tool registration quota of 10 billion, enhancing its financial flexibility [2]. - The company announced its entry into new markets, including Egypt, Kazakhstan, and Azerbaijan, on December 17, 2025, which could expand its customer base and revenue streams [2]. Market Insights - There are discussions regarding the impact of the end of vehicle replacement subsidies on order volumes, suggesting that market expectations may have been overly pessimistic [2]. - The company is also exploring adjustments to its product offerings, particularly in the 300,000 yuan price range, with a focus on continuous iteration of pure electric models and streamlining extended-range SKUs [2].