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Li Auto Reports Stable Share Capital and Active Incentive Plans in December 2025 Hong Kong Filing

Story Highlights
  • Li Auto kept its authorised and issued share capital unchanged in December 2025, with 5 billion WVR shares authorised and no new Class A or B issuance.
  • The company actively exercised and granted equity incentives and maintained US$862.5 million of 2028 convertible notes, signalling ongoing staff alignment and potential future dilution.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Li Auto Reports Stable Share Capital and Active Incentive Plans in December 2025 Hong Kong Filing

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An announcement from Li Auto ( (LI) ) is now available.

On January 7, 2026, Li Auto filed a Form 6-K with the U.S. Securities and Exchange Commission noting that it had submitted a monthly return to the Hong Kong Stock Exchange detailing movements in its authorized share capital and issued shares for the month ended December 31, 2025. The filing shows that Li Auto’s total authorized share capital remained unchanged at 5 billion weighted voting right (WVR) ordinary shares—4.5 billion Class A shares listed in Hong Kong and 500 million unlisted Class B shares—with no change in the number of issued Class A or Class B shares during December. While the overall share count was stable, the company continued to use its equity incentive structures: share options and restricted share units under its 2019 and 2020 plans were exercised and granted, largely settled using existing Class A shares previously issued to a depositary for ADS programs, preserving the outstanding share base and underscoring ongoing employee and management equity participation without immediate dilution to public shareholders. The report also confirms that Li Auto’s outstanding US$862.5 million 2028 convertible senior notes remained unchanged, with potential future dilution of up to about 60.9 million Class A shares if converted, highlighting a significant but currently latent source of additional equity over the medium term.

The most recent analyst rating on (LI) stock is a Hold with a $18.00 price target. To see the full list of analyst forecasts on Li Auto stock, see the LI Stock Forecast page.

Spark’s Take on LI Stock

According to Spark, TipRanks’ AI Analyst, LI is a Neutral.

Li Auto’s overall stock score reflects a combination of mixed financial performance, bearish technical indicators, and a relatively high valuation. The company’s strong balance sheet is a positive factor, but liquidity challenges and declining revenue growth weigh heavily on the score. The technical analysis indicates a bearish trend, further impacting the overall score. The absence of a dividend yield and a high P/E ratio suggest limited valuation appeal.

To see Spark’s full report on LI stock, click here.

More about Li Auto

Li Auto Inc. is a Chinese new energy vehicle manufacturer headquartered in Beijing, focused on designing, developing, manufacturing and selling smart electric vehicles, primarily extended-range and battery electric SUVs and related mobility services, and its shares are listed in both the United States and on the Hong Kong Stock Exchange under stock code 2015.

Average Trading Volume: 4,398,329

Technical Sentiment Signal: Sell

Current Market Cap: $17.19B

Find detailed analytics on LI stock on TipRanks’ Stock Analysis page.

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