• In the three months through the end of September, Li delivered 93,211 vehicles, representing a 39.0% year-over-year decrease.
• Adjusted net loss per American Depositary Share (ADS) was RMB0.36 in Q3, compared to earnings of RMB3.63 per ADS reported in the corresponding quarter of 2024. 
• For the fourth quarter, the company expects to deliver between 100,000 and 110,000 vehicles, representing a year-over-year decrease of 37.0% to 30.7%.

Li Auto (LI) CEO Xiang Li stated on Wednesday that several challenges impacted the company over the three months through the end of September, including supply chain constraints, product lifecycle challenges, PR challenges, and changing policies, resulting in an unexpected loss.

“All these factors have had a negative impact on our operations and deliveries,” he said. In the three months through the end of September, Li delivered 93,211 vehicles, representing a 39.0% year-over-year decrease.

Q3 Earnings

Total revenues in the quarter came in at RMB27.4 billion ($3.87 billion), down 36.2% from RMB42.9 billion in the third quarter of 2024, but above the analyst estimate of RMB26.49 billion.

Adjusted net loss per American Depositary Share (ADS) was RMB0.36 in the quarter, compared to earnings of RMB3.63 per ADS reported in the third quarter of 2024. Analysts on average had expected the company to report earnings of RMB0.64 per share.

For the fourth quarter, the company expects to deliver between 100,000 and 110,000 vehicles, representing a year-over-year decrease of 37.0% to 30.7%, amid subdued demand and strong competition.

Total revenue, meanwhile, is expected to be between RMB26.5 billion and RMB29.2 billion, representing a year-over-year decrease of 40.1% to 34.2%. This is below the analyst estimate of RMB36.99 billion.

How Did Stocktwits Users React?

LI shares traded 3% higher at the time of writing on Wednesday morning. On Stocktwits, retail sentiment around LI stock jumped from 'neutral' to 'extremely bullish' territory over the past 24 hours, while message volume rose from 'low' to 'high' levels.

A Stocktwits user expressed surprise at the stock rising.

Another highlighted that the positive stock reaction reflects how beaten down the shares already were.

LI stock is down by 22% this year and by about 14% over the past 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com

Exchange Rate: RMB1= $0.14

MENAFN26112025007385015968ID1110402701