Li Auto, Inc. Class A (HK:2015)
:2015
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Li Auto, Inc. Class A
(2015)
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Rating:48Neutral
Price Target:
HK$64.00
▼(-10.43% Downside)
Action:Reiterated
Date:05/19/26
The score is held down primarily by the 2025 deterioration in profitability and especially the sharp swing to negative operating and free cash flow. Technicals are mixed (below key moving averages but with modestly positive momentum signals), while valuation is a major negative due to the extremely high P/E.
Positive Factors
Moderate leverage / solid balance sheet
Debt-to-equity near 0.25 gives the company financial flexibility to absorb cyclical downturns and raise capital or invest without excessive refinancing risk. For an auto OEM, moderate leverage supports continued capex for product development and capacity expansion while limiting interest burden.
Negative Factors
Large revenue decline in 2025
A nearly 24% revenue contraction materially reduces operating leverage and challenges fixed-cost coverage in manufacturing. Sustained demand weakness or product-market issues would hinder margin recovery and make prior scale advantages harder to realize without clear product, pricing, or distribution fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage / solid balance sheet
Debt-to-equity near 0.25 gives the company financial flexibility to absorb cyclical downturns and raise capital or invest without excessive refinancing risk. For an auto OEM, moderate leverage supports continued capex for product development and capacity expansion while limiting interest burden.
Read all positive factors
Li Auto, Inc. Class A (2015) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$125.79B
Dividend YieldN/A
Average Volume (3M)16.61M
Price to Earnings (P/E)4582.3
Beta (1Y)1.28
Revenue Growth-22.22%
EPS Growth-86.30%
CountryHK
Employees32,248
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)4.03
Shares Outstanding1,808,423,700
10 Day Avg. Volume14,626,907
30 Day Avg. Volume16,610,116
Financial Highlights & Ratios
PEG Ratio-1.24
Price to Book (P/B)1.62
Price to Sales (P/S)1.07
P/FCF Ratio-9.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$84.44Price Target Upside18.18% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering19
EPS Forecast (FY)0.95
Revenue Forecast (FY)HK$151.75B
Li Auto, Inc. Class A Business Overview & Revenue Model
Company Description
Li Auto Inc., through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehi...
How the Company Makes Money
Li Auto primarily makes money by selling vehicles to customers, with vehicle sales forming its core revenue stream. In addition, it generates revenue from services and other sources associated with vehicle ownership and delivery (for example, cust...
Li Auto, Inc. Class A Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 143.32B | 109.41B | 144.46B | 123.85B | 45.29B | 27.01B |
| Gross Profit | 29.58B | 20.44B | 29.66B | 27.50B | 8.79B | 5.76B |
| EBITDA | 12.21B | -969.00M | 10.08B | 9.21B | -839.16M | 500.83M |
| Net Income | 8.08B | 1.10B | 8.03B | 11.70B | -2.01B | -321.45M |
Balance Sheet | ||||||
| Total Assets | 161.29B | 154.36B | 162.35B | 143.47B | 86.54B | 61.85B |
| Cash, Cash Equivalents and Short-Term Investments | 106.92B | 101.28B | 112.81B | 103.26B | 56.51B | 47.52B |
| Total Debt | 16.92B | 17.82B | 16.34B | 13.55B | 12.26B | 7.84B |
| Total Liabilities | 87.66B | 80.75B | 91.03B | 82.89B | 41.35B | 20.78B |
| Stockholders Equity | 73.12B | 72.65B | 70.87B | 60.14B | 44.86B | 41.06B |
Cash Flow | ||||||
| Free Cash Flow | 8.74B | -12.82B | 8.20B | 44.19B | 2.25B | 4.90B |
| Operating Cash Flow | 14.97B | -8.61B | 15.93B | 50.69B | 7.38B | 8.34B |
| Investing Cash Flow | -45.39B | -703.13M | -41.14B | -12.07M | -4.36B | -4.26B |
| Financing Cash Flow | -504.79M | 767.40M | -415.65M | 185.38M | 5.64B | 16.71B |
Li Auto, Inc. Class A Technical Analysis
Negative
71.45
Price Trends
70.03
Negative
68.63
Negative
77.98
Negative
Market Momentum
-1.04
Positive
34.91
Neutral
2.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2015, the sentiment is Negative. The current price of 71.45 is above the 20-day moving average (MA) of 69.98, above the 50-day MA of 70.03, and below the 200-day MA of 77.98, indicating a bearish trend. The MACD of -1.04 indicates Positive momentum. The RSI at 34.91 is Neutral, neither overbought nor oversold. The STOCH value of 2.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2015.
Li Auto, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$216.62B | 5.70 | 18.03% | 1.95% | 39.48% | -27.45% | |
61 Neutral | HK$154.80B | 24.70 | 10.49% | 3.41% | 17.13% | -18.63% | |
58 Neutral | HK$882.57B | 51.93 | 11.86% | 1.55% | -3.19% | -40.56% | |
56 Neutral | HK$110.73B | 90.07 | -3.77% | ― | 88.09% | 80.63% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | HK$109.02B | 82.52 | -984.82% | ― | 51.57% | 66.02% | |
48 Neutral | HK$125.79B | 4,582.27 | 1.55% | ― | -22.22% | -86.30% |
* General Sector Average
HK:2015
Li Auto, Inc. Class A
62.25
-50.05
-44.57%
HK:1211
BYD Co
90.55
-59.85
-39.80%
HK:0175
Geely Automobile Holdings
19.47
-0.25
-1.27%
HK:2333
Great Wall Motor Co
10.78
-1.13
-9.52%
HK:9866
NIO Inc. Class A
42.96
12.36
40.39%
HK:9868
XPeng, Inc. Class A
60.60
-21.45
-26.14%
Li Auto, Inc. Class A Corporate Events
Li Auto Posts Strong April Deliveries and Showcases New L9 Model as Network Expands
May 3, 2026
Li Auto Inc., a leading Chinese new energy vehicle maker, focuses on premium smart electric vehicles for families, with strengths in extended-range electric vehicles and growing battery electric offerings. Since starting volume production in 2019,...
Li Auto Sets 2026 AGM to Approve Accounts, Board Mandates and Share Issuance Authority
Apr 21, 2026
Li Auto Inc. has scheduled its annual general meeting for May 29, 2026, in Beijing, where shareholders will review and adopt the audited consolidated financial statements for the year ended December 31, 2025. The meeting will also consider the re-...
Li Auto Sets Shareholder Record Date for 2026 Annual General Meeting
Apr 2, 2026
Li Auto Inc. has set April 24, 2026, as the record date for determining which holders of its Class A and Class B ordinary shares are eligible to attend and vote at its upcoming annual general meeting. Share transfers must be completed by specified...
Li Auto’s March Deliveries Top 41,000 as New EV Models and AI Tech Gain Momentum
Apr 1, 2026
Li Auto reported March 2026 deliveries of 41,053 vehicles, bringing cumulative deliveries to 1,635,357 since it began volume production. The company has built a sizeable physical footprint, operating 517 retail stores in 160 cities, 552 service ce...
Li Auto Offers to Repurchase 2028 Convertible Notes in U.S. Filing
Mar 27, 2026
Li Auto Inc. has announced that it has filed a tender offer statement in the United States concerning its 0.25% Convertible Senior Notes due 2028. The filing provides holders of these notes with the right to require the company to repurchase their...
Li Auto Launches USD1 Billion Share Repurchase Program to Signal Confidence and Support Shareholder Value
Mar 24, 2026
Li Auto Inc. has authorized a new share repurchase program allowing the company to buy back up to USD1.0 billion of its outstanding Class A ordinary shares and American depositary shares between March 24, 2026 and March 31, 2027. The buybacks will...
Li Auto Strengthens Audit Committee Charter and Oversight of Financial Reporting
Mar 12, 2026
Li Auto’s board has updated the charter of its audit committee, clarifying the committee’s mandate to oversee the company’s accounting and financial reporting processes, including its subsidiaries and consolidated affiliated enti...
Li Auto Swings to Operating Loss as 2025 Profit Plunges
Mar 12, 2026
Li Auto reported a sharp deterioration in financial performance for 2025, with revenue falling 22.3% to RMB 112.3 billion and gross profit down 29.2% to RMB 21.0 billion. The company swung from an operating income of RMB 7.0 billion in 2024 to an ...
Li Auto Releases Unaudited 2025 Results and Warns Investors on Risks
Mar 12, 2026
Li Auto announced its unaudited condensed consolidated financial results for the fourth quarter and full year ended Dec. 31, 2025, prepared under U.S. Generally Accepted Accounting Principles rather than International Financial Reporting Standards...
Li Auto Posts Strong February Deliveries and Expands Smart EV Ecosystem
Mar 1, 2026
Li Auto reported February 2026 deliveries of 26,421 vehicles, bringing cumulative deliveries to 1,594,304, underscoring its growing scale in China’s competitive new energy vehicle sector. The company operates 539 retail stores, 548 service c...
Li Auto Sets March 12 Board Meeting and Earnings Call for 2025 Results
Feb 27, 2026
Li Auto Inc. has scheduled a board meeting for March 12, 2026, to review and approve the unaudited financial results for the fourth quarter and full year ended December 31, 2025, and to authorize their public release. The timing signals the compan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.