Li Auto Q2 Revenue of RMB 25.67B Beats Estimates, Gross Margin Narrows to 11%, Q3 Guidance Misses | Earnings Report

Li Auto's Q2 revenue came in at RMB 25.67 billion, down 15% year-over-year, slightly above the market estimate of RMB 24.96 billion; adjusted net loss was RMB 1.50 billion, versus an adjusted net profit of RMB 1.47 billion in the same period last year. The company expects Q3 revenue to range between RMB 26.6 billion and RMB 28.0 billion, with the midpoint approximately 17% below the Bloomberg consensus estimate of RMB 32.26 billion; deliveries are projected at 95,000 to 100,000 units, below the market estimate of approximately 121,900 units.