Li Auto Posts Mixed Earnings. Why the Stock Is Falling. -- Barrons.com

Dow Jones
Mar 12

By Alex Kozul-Wright

Li Auto stock fell in premarket trading Thursday after the Chinese electric-vehicle maker reported mixed fourth-quarter results.

The company posted an adjusted net income of 274.4 million Chinese yuan ($39.2 million), as total sales dropped 35% from a year ago to $4.1 billion. And while Wall Street had been looking for sales of $4.2 billion, Li guided for fourth-quarter sales of between $3.7 billion and $4.1 billion back in November.

Li's American depositary receipts fell 2.4% ahead of the bell, while futures contracts for the S&P 500 dipped 0.6%. Taking a step back, Li's shares have increased 8% since the start of the year, through Wednesday's close.

The company delivered 109,194 cars in the fourth quarter of 2025, down from about 159,000 in the fourth quarter of 2024. For the first three months of 2026, Li expects to deliver between 85,000 and 90,000 vehicles and generate a total revenue of between $2.9 billion and $3.1 billion. Wall Street had been forecasting $3.5 billion in revenue.

Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

 

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March 12, 2026 06:54 ET (10:54 GMT)

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