Company data sheet · Li Auto
Li Auto: five lost years, and the economy wasn't the reason.
- Industry
- Motor Vehicles & Passenger Car Bodies
- Headquarters
- China
- Ticker
- LI (Nasdaq)
- Sources
- SEC filings (2019–2026), Stratrix's verified Decision Cases, market data and official economic statistics for China
- Data as of
- October 18, 2026
- From profit to five straight losses. Li Auto lost money every year from 2018 to 2022: CN¥6.5 billion in all. 2023 was its first profit in six years: CN¥11.8 billion.
- It outgrew its own economy many times over. Revenue rose from CN¥0.3 billion in 2019 to CN¥112 billion in 2025: 395.0 times as much. China's economy, counted the same way in money terms, grew about 42%. Whatever drove it, the economy around it does not account for growth of that size.
- It wasn't the cycle. The losses began in 2018, a year China economy grew 6.8%. When a company falls while its economy grows, look inside the company first.
- Still smaller than it was. Revenue reached CN¥112 billion in 2025, 22% below its 2024 peak of CN¥144 billion.
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2019 | CN¥0.3 billion | −CN¥2.4 billion | |
| 2020 | CN¥9.5 billion | −CN¥0.2 billion | |
| 2021 | CN¥27 billion | −CN¥0.3 billion | |
| 2022 | CN¥45.3 billion | −CN¥2 billion | |
| 2023 | CN¥124 billion | CN¥11.8 billion | |
| 2024 | CN¥144 billion | CN¥8 billion | |
| 2025 | CN¥112 billion | CN¥1.1 billion |
As reported in its annual filings, in CNY. Losses in red.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Economic context: 3 measures for China, every year since 2016, from the official sources.
- Peer comparison: against 264 companies of its size in its sector.
- Financial results: ten years of revenue, operating and net income, and every annual report, linked.
- Methods and sources, so each number can be checked and cited.
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