← Li Auto Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and Cash Equivalents, at Carrying Value | $1.3b | $1.4b | $4.4b | $5.6b | $12.9b | $9.0b | $8.1b | |
| Prepaid Expense and Other Assets, Current | $813.0m | $54.2m | $75.4m | $245.0m | $598.2m | $709.2m | $739.9m | |
| Short-term Investments | — | — | — | — | $1.7b | $6.1b | $6.2b | |
| Cash and cash equivalents | $1.3b | $8.9b | $27.9b | $38.5b | $91.3b | $65.9b | $56.7b | |
| Trade receivable, net of allowance for credit losses of RMB561 and RMB1,747 as of December 31, 2024 and 2025, respectively | $8.3m | $115.5m | $120.5m | $48.4m | $143.5m | $135.1m | $119.8m | |
| Prepayments and other current assets, net of allowance for credit losses of RMB3,464 and RMB4,831 as of December 31, 2024 and 2025, respectively | $813.0m | $353.7m | $480.7m | $1.7b | $4.2b | $5.2b | $5.2b | |
| Accounts Receivable | — | — | — | $48.4m | $143.5m | $135.1m | $119.8m | |
| Allowance For Doubtful Accounts Receivable | — | — | — | ($327k) | ($285k) | ($561k) | ($1.7m) | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | $56.5b | $103.3b | $112.8b | $101.0b | |
| Gross Accounts Receivable | — | — | — | $48.7m | $143.8m | $135.7m | $121.6m | |
| Inventories Adjustments Allowances | — | — | — | ($358.6m) | ($68.9m) | ($49.5m) | ($165.9m) | |
| Non Current Prepaid Assets | — | — | $653.0m | $1.3b | — | — | — | |
| Other Current Assets | — | — | — | $1.7b | $4.2b | $5.2b | $5.2b | |
| Other Short Term Investments | — | — | — | $18.0b | $11.9b | $46.9b | $44.3b | |
| Prepaid Assets | — | — | $480.7m | $1.7b | — | — | — | |
| Inventory, Net | $518.1m | $160.6m | $253.9m | $986.6m | $967.9m | $1.1b | $1.3b | |
| Assets, Current | $5.1b | $4.8b | $8.2b | $9.7b | $16.1b | $17.3b | $16.5b | |
| Total current assets | $5.1b | $31.4b | $52.4b | $67.0b | $114.5b | $126.3b | $115.3b | |
| Property, Plant and Equipment, Net | $2.8b | $379.9m | $4.5b | $11.2b | $15.7b | $21.1b | $22.8b | |
| Goodwill | — | — | — | $795k | $772k | $751k | $784k | |
| Intangible Assets, Net (Excluding Goodwill) | $673.9m | $104.7m | $117.9m | $120.7m | $121.7m | $125.3m | $170.4m | |
| Intangible assets, net | $673.9m | $683.3m | $751.5m | $832.6m | $864.2m | $915.0m | $1.2b | |
| Goodwill And Other Intangible Assets | — | — | — | $1.8b | $2.1b | $2.4b | $2.7b | |
| Other Intangible Assets | — | — | — | $1.8b | $2.1b | $2.4b | $2.7b | |
| Operating Lease, Right-of-Use Asset | $510.2m | $195.7m | $323.5m | $513.1m | $836.5m | $1.1b | $1.3b | |
| Other Assets, Noncurrent | $311.9m | $49.2m | $310.9m | $351.1m | $394.7m | $299.9m | $251.0m | |
| Other noncurrent assets, net of allowance for credit losses of RMB5,544 and RMB4,912 as of December 31, 2024 and 2025, respectively | $311.9m | $321.2m | $2.0b | $2.4b | $2.8b | $2.2b | $1.8b | |
| Additional Financial Items | ||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $8.3m | $17.7m | $18.9m | $7.0m | $20.2m | $18.5m | $17.1m | |
| Restricted cash | $140.0m | $1.2b | $2.6b | $1.9b | $479k | $6.8m | $216.3m | |
| Time deposits and shortterm investments | $2.3b | $19.7b | $19.7b | $18.0b | $11.9b | $46.9b | $44.3b | |
| Longterm investments | $126.2m | $162.9m | $156.3m | $1.5b | $1.6b | $922.9m | $848.7m | |
| Operating lease rightofuse assets, net | $510.2m | $1.3b | $2.1b | $3.5b | $5.9b | $8.3b | $9.1b | |
| Deferred tax assets | — | $59.2m | $19.9m | $74.8m | $2.0b | $2.5b | $3.3b | |
| Short-term borrowings | $239.0m | — | $37.0m | $390.8m | $7.0b | $281.1m | $6.2b | |
| Trade and notes payable | $624.7m | $3.2b | $9.4b | $20.0b | $51.9b | $53.6b | $40.6b | |
| Amounts due to related parties | $9.8m | $19.2m | $37.5m | $7.2m | $10.6m | $11.5m | $26.6m | |
| Operating lease liabilities, current | $177.5m | $210.5m | $473.2m | $696.5m | $1.1b | $1.4b | $1.7b | |
| Finance lease liabilities, current | $360.8m | — | — | — | $0 | $95.2m | $0 | |
| Accruals and other current liabilities | $867.3m | $647.5m | $1.9b | $5.7b | $11.2b | $12.4b | $13.4b | |
| Operating lease liabilities, noncurrent | $241.1m | $1.0b | $1.4b | $1.9b | $3.7b | $5.7b | $6.3b | |
| Finance lease liabilities, non-current | — | $366.9m | — | — | $0 | $643.0m | $348.5m | |
| Ordinary shares | $165k | $1.2m | $1.4m | $1.4m | $1.4m | $1.4m | $1.5m | |
| Treasury shares | — | — | ($89k) | ($84k) | ($90k) | ($74k) | ($73k) | |
| Statutory reserves | — | — | — | $0 | $444.6m | $758.5m | $866.7m | |
| Accumulated Depreciation | — | — | — | ($2.2b) | ($3.7b) | ($6.3b) | ($10.3b) | |
| Available For Sale Securities | — | — | — | $726.0m | $1.2b | $922.9m | $848.7m | |
| Buildings And Improvements | — | — | — | $2.4b | $2.7b | $4.8b | $6.4b | |
| Capital Lease Obligations | — | — | — | $2.6b | $4.8b | $7.9b | $8.3b | |
| Construction In Progress | — | — | — | $2.7b | $4.6b | $3.3b | $921.6m | |
| Current Accrued Expenses | — | — | — | $639.9m | $837.5m | $1.6b | $1.9b | |
| Current Capital Lease Obligation | — | — | — | $696.5m | $1.1b | $1.5b | $1.7b | |
| Current Debt | — | — | — | $390.8m | $7.0b | $281.1m | $6.2b | |
| Current Debt And Capital Lease Obligation | — | — | — | $1.1b | $8.1b | $1.8b | $7.9b | |
| Current Deferred Liabilities | — | — | — | $579.7m | $1.6b | $1.4b | $1.6b | |
| Dueto Related Parties Current | — | — | — | $7.2m | $10.6m | $11.5m | $26.6m | |
| Finished Goods | — | — | — | $4.0b | $4.4b | $5.8b | $5.7b | |
| Gross PPE | — | — | — | $15.9b | $24.1b | $34.3b | $40.6b | |
| Held To Maturity Securities | — | — | $0 | $758.5m | $409.6m | $0 | — | |
| Invested Capital | — | — | — | $54.5b | $68.9b | $79.3b | $82.1b | |
| Investmentin Financial Assets | — | — | — | $1.5b | $1.6b | $922.9m | $848.7m | |
| Investments And Advances | — | — | — | $1.5b | $1.6b | $922.9m | $848.7m | |
| Leases | — | — | — | $1.1b | $2.0b | $2.8b | $3.4b | |
| Long Term Capital Lease Obligation | — | — | — | $1.9b | $3.7b | $6.4b | $6.6b | |
| Machinery Furniture Equipment | — | — | — | $4.5b | $6.7b | $11.3b | $15.0b | |
| Net PPE | — | — | — | $13.7b | $20.4b | $27.9b | $30.4b | |
| Net Tangible Assets | — | — | — | $43.0b | $58.0b | $68.4b | $69.9b | |
| Non Current Accounts Receivable | — | — | $259.6m | $449.8m | — | — | — | |
| Non Current Accrued Expenses | — | — | — | — | $3.0b | $4.6b | $5.5b | |
| Non Current Deferred Assets | — | — | — | $74.8m | $2.0b | $2.5b | $3.3b | |
| Non Current Deferred Liabilities | — | — | — | $659.4m | $1.4b | $2.0b | $1.8b | |
| Non Current Deferred Taxes Assets | — | — | — | $74.8m | $2.0b | $2.5b | $3.3b | |
| Ordinary Shares Number | — | — | — | $2.0b | $2.0b | $2.0b | $2.0b | |
| Other Current Borrowings | — | — | — | $390.8m | $7.0b | $281.1m | $6.2b | |
| Other Current Liabilities | — | — | — | $32.0m | $67.0m | $114.8m | $151.6m | |
| Other Equity Adjustments | — | — | — | ($194.1m) | $219.7m | $586.7m | $41.5m | |
| Other Non Current Assets | — | — | — | $2.4b | $2.8b | $2.2b | $1.8b | |
| Other Payable | — | — | — | $9.2b | $25.6b | $21.8b | $26.6b | |
| Other Properties | — | — | — | $5.3b | $8.1b | $12.1b | $14.9b | |
| Properties | — | — | — | $0 | $0 | $0 | $0 | |
| Raw Materials | — | — | — | $3.1b | $2.5b | $2.4b | $3.3b | |
| Share Issued | — | — | — | $2.1b | $2.1b | $2.1b | $2.1b | |
| Tangible Book Value | — | — | — | $43.0b | $58.0b | $68.4b | $69.9b | |
| Tradeand Other Payables Non Current | — | — | — | — | $265.0m | $603.9m | $404.4m | |
| Treasury Shares Number | — | — | — | $130.2m | $136.4m | $114.3m | $113.2m | |
| Working Capital | — | — | — | $39.6b | $41.8b | $57.1b | $51.7b | |
| Accrued Liabilities, Current | — | — | — | $498.1m | $600.8m | $1.1b | $258.2m | |
| Total noncurrent assets | $4.4b | $5.0b | $9.5b | $19.5b | $28.9b | $36.0b | $39.0b | |
| Total noncurrent liabilities | $252.6m | $2.3b | $8.7b | $14.0b | $10.1b | $21.8b | $17.6b | |
| Total Li Auto Inc. shareholders' equity | ($5.7b) | $29.8b | $41.1b | $44.9b | $60.1b | $70.9b | $72.6b | |
| Total shareholders' equity | — | — | $41.1b | $45.2b | $60.6b | $71.3b | $73.1b | |
| Total Capitalization | — | — | — | $54.1b | $61.9b | $79.0b | $75.9b | |
| Total Debt | — | — | — | $12.3b | $13.5b | $16.3b | $17.8b | |
| Total Tax Payable | — | — | — | $445.9m | $1.7b | $2.4b | $1.6b | |
| Assets | $9.5b | $5.6b | $9.7b | $12.5b | $20.2b | $22.2b | $22.1b | |
| Total assets | $9.5b | $36.4b | $61.8b | $86.5b | $143.5b | $162.3b | $154.3b | |
| LIABILITIES AND EQUITY | ||||||||
| Current liabilities: | ||||||||
| Operating Lease, Liability, Current | $177.5m | $32.3m | $74.3m | $101.0m | $161.5m | $197.0m | $241.7m | |
| Long-term Debt, Current Maturities | — | — | — | $390.8m | $7.0b | — | — | |
| Operating Lease, Liability, Noncurrent | $241.1m | $157.1m | $215.0m | $282.2m | $518.0m | $785.8m | $895.0m | |
| Long-term Debt, Excluding Current Maturities | — | $78.4m | $935.4m | $1.3b | $246.1m | $1.1b | $471.8m | |
| Deferred revenue, current | $56.7m | $271.5m | $305.1m | $569.2m | $1.5b | $1.4b | $1.6b | |
| Accounts Payable | — | — | — | $15.4b | $34.8b | $40.0b | $23.7b | |
| Payables And Accrued Expenses | — | — | — | $25.7b | $62.9b | $65.9b | $53.9b | |
| Liabilities, Current | $4.7b | $660.4m | $1.9b | $4.0b | $10.2b | $9.5b | $9.1b | |
| Total current liabilities | $4.7b | $4.3b | $12.1b | $27.4b | $72.7b | $69.2b | $63.5b | |
| Deferred Income Tax Liabilities, Net | — | $5.6m | $24.1m | $11.3m | $28.3m | $118.5m | $98.9m | |
| Other Liabilities, Noncurrent | $5.5m | $28.3m | $125.9m | $310.6m | $522.7m | $780.5m | $913.1m | |
| Deferred tax liabilities | — | $36.3m | $153.7m | $77.8m | $200.9m | $865.0m | $691.7m | |
| Other noncurrent liabilities | $5.5m | $184.7m | $802.3m | $2.1b | $3.7b | $5.7b | $6.4b | |
| Long Term Debt And Capital Lease Obligation | — | — | — | $11.2b | $5.4b | $14.5b | $9.9b | |
| Non Current Deferred Taxes Liabilities | — | — | — | $77.8m | $200.9m | $865.0m | $691.7m | |
| Deferred Tax Liabilities, Net | — | — | $133.8m | $3.0m | — | — | — | |
| Liabilities | $4.9b | $1.0b | $3.3b | $6.0b | $11.7b | $12.5b | $11.6b | |
| Total liabilities | $4.9b | $6.6b | $20.8b | $41.4b | $82.9b | $91.0b | $81.2b | |
| Stockholders’ equity: | ||||||||
| Additional Paid in Capital | — | $5.7b | $7.8b | $7.8b | $8.1b | $8.2b | $8.8b | |
| Retained Earnings (Accumulated Deficit) | ($5.7b) | ($993.4m) | ($1.1b) | ($1.3b) | $343.9m | $1.4b | $1.6b | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $15.5m | ($154.0m) | ($238.8m) | ($28.1m) | ($31.7m) | ($23.5m) | ($118.0m) | |
| Treasury Stock, Common, Value | — | — | — | $12k | $13k | $10k | $10k | |
| Accumulated other comprehensive loss | $15.5m | ($1.0b) | ($1.5b) | ($194.1m) | ($224.9m) | ($171.7m) | ($825.2m) | |
| Capital Stock | — | — | — | $1.4m | $1.4m | $1.4m | $1.5m | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | ($194.1m) | $219.7m | $586.7m | $41.5m | |
| Treasury Stock | — | — | — | $84k | $90k | $74k | $73k | |
| Stockholders' Equity Attributable to Parent | ($5.7b) | $4.6b | $6.4b | $6.5b | $8.5b | $9.7b | $10.4b | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | — | — | $47.5m | $60.9m | $61.0m | $74.4m | |
| Noncontrolling interests | — | — | — | $327.6m | $432.6m | $445.5m | $520.5m | |
| Minority Interest | — | — | — | $327.6m | $432.6m | $445.5m | $520.5m | |
| Total Equity Gross Minority Interest | — | — | — | $45.2b | $60.6b | $71.3b | $73.1b | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | $14.0b | $10.1b | $21.8b | $17.6b | |
| Liabilities and Equity | $9.5b | $5.6b | $9.7b | $12.5b | $20.2b | $22.2b | $22.1b | |
| Total liabilities and shareholders' equity | $9.5b | $36.4b | $61.8b | $86.5b | $143.5b | $162.3b | $154.3b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.