# Li Auto Inc.: Form 20-F for the period ended Dec 31, 2025

- Company: [Li Auto Inc.](/companies/li.md) (CIK 1791706)
- Form: 20-F
- Filed: 2026-04-10
- Accepted by EDGAR: Apr 10, 2026, 06:06 ET
- Period: 2025-12-31
- Accession: 0001104659-26-041705
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1791706/000110465926041705/li-20251231x20f.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1791706/000110465926041705/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 12 months, 2025-01-01 to 2025-12-31 | $16.06bn | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Cost of revenue | 12 months, 2025-01-01 to 2025-12-31 | $13.06bn | us-gaap:CostOfRevenue |
| Gross profit | 12 months, 2025-01-01 to 2025-12-31 | $3.00bn | us-gaap:GrossProfit |
| Research and development | 12 months, 2025-01-01 to 2025-12-31 | $1.62bn | us-gaap:ResearchAndDevelopmentExpense |
| Selling, general and administrative | 12 months, 2025-01-01 to 2025-12-31 | $1.53bn | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 12 months, 2025-01-01 to 2025-12-31 | −$74.5m | us-gaap:OperatingIncomeLoss |
| Interest expense | 12 months, 2025-01-01 to 2025-12-31 | $24.0m | us-gaap:InterestExpenseNonoperating |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | $22.6m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | $162.9m | us-gaap:ProfitLoss |
| Diluted EPS | 12 months, 2025-01-01 to 2025-12-31 | $0.08 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 12 months, 2025-01-01 to 2025-12-31 | $0.08 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 12 months, 2025-01-01 to 2025-12-31 | 2,142,727,527 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | −$1.23bn | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 12 months, 2025-01-01 to 2025-12-31 | $601.4m | us-gaap:PaymentsToAcquireProductiveAssets |
| Cash and equivalents | at 2025-12-31 | $8.11bn | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-12-31 | $16.49bn | us-gaap:AssetsCurrent |
| Total assets | at 2025-12-31 | $22.06bn | us-gaap:Assets |
| Current liabilities | at 2025-12-31 | $9.09bn | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-12-31 | $11.61bn | us-gaap:Liabilities |
| Long-term debt | at 2025-12-31 | $471.8m | us-gaap:LongTermDebtNoncurrent |
| Short-term borrowings | at 2025-12-31 | $889.1m | us-gaap:ShortTermBorrowings |
| Shareholders' equity | at 2025-12-31 | $10.38bn | us-gaap:StockholdersEquity |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/1791706/000110465926041705/li-20251231x20f.htm

Filed Apr 10, 2026.
Source: SEC EDGAR, the filing index for accession 0001104659-26-041705. Last ingested by Listed: Nov 10, 2026, 16:53 ET. No prices; not investment advice.