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Chinese maker of premium extended-range and battery EVs sold direct-to-consumer through company-owned stores.
Chinese maker of premium extended-range and battery EVs sold direct-to-consumer through company-owned stores.
Sells cars direct to buyers through its own stores, with a service network but no dealers, and its range-extender SUVs, which use an electric motor plus a small gasoline generator that recharges the battery, have supplied most volume. It has been expanding into pure battery models. Founder Li Xiang keeps voting control through special shares.
In one line: China's Tesla, but range-extender-first.
Moat: narrow (brand, distribution). Strong brand among Chinese family buyers and a fast-growing owned-store network in a crowded EV market.
Headquarters: Beijing, China · Founded: 2015 · Employees: 30,728
Size Li Auto-w (2015.HK) is a Hong Kong Consumer Discretionary company (Motor Vehicles) with a market value of $12.4B, the 136th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$47.44 on 6 Nov 2026.
Performance Over six months the shares fell 32.2%, against -7.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 24.5% over the last twelve months (peer median +5.0%); the operating margin is -6.7% (peer median 5.9%).
Valuation It trades at 0.3× enterprise value to sales against a peer median of 0.8× (2nd cheapest of 21).
Capital Return on invested capital runs 62.9 points below its cost of capital (10.6% WACC).
Next results Next results expected around 1 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$117B | HK$122B | HK$157B | HK$137B | HK$52.7B |
| Revenue growth | — | -22% | +14% | +160% | — |
| Gross profit | HK$15.8B | HK$22.8B | HK$32.2B | HK$30.4B | HK$10.1B |
| EBITDA | n/a | HK$855M | HK$10.2B | HK$9.86B | -HK$2.84B |
| Net income | -HK$5.22B | HK$1.22B | HK$8.71B | HK$12.9B | -HK$2.34B |
| Free cash flow | n/a | -HK$13.9B | HK$8.89B | HK$48.8B | HK$2.62B |
| Capital expenditure | n/a | HK$4.56B | HK$8.38B | HK$7.19B | HK$5.96B |
| Total debt | HK$34.7B | HK$38.6B | HK$31.8B | HK$33.7B | HK$19.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Li Auto-w 2015.HK | $12.4B | -32% | -24% | -7% | 0.3× | n/a |
| NIO 9866.HK | $7.60B | -46% | +70% | -4% | 0.3× | n/a |
| XPeng 9868.HK | $9.51B | -37% | +29% | -7% | 0.9× | n/a |
| BYD 1211.HK | $98.9B | -26% | 0% | 4% | 1.0× | n/a |
| Seres 601127.SS | $11.0B | -51% | -6% | -4% | 0.4× | n/a |
| Tesla TSLA | $1.42T | -16% | +8% | 4% | 13.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2015.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.1% | +3.0% | 6th highest of 21 |
| 6-month return | -32.2% | -7.4% | 4th lowest of 21 |
| Distance from 52-week high | -42.1% | -25.8% | 5th lowest of 21 |
| Revenue growth (TTM) | -24.5% | +5.0% | lowest of 20 |
| Operating margin | -6.7% | 5.9% | 3rd lowest of 21 |
| EV / Sales | 0.3× | 0.8× | 2nd cheapest of 21 |
| ROIC minus cost of capital | -62.9 pp | -1.2 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Li Auto-w 2015.HK | Hong Kong | $12.4B | -32% | -24% | -7% | 0.3× | n/a | n/a |
| Subaru 7270.T | Japan | $12.3B | +16% | 0% | 3% | 0.3× | 2.7% | +11.1% |
| Hero Motocorp HEROMOTOCO.NS | India | $11.7B | +3% | +27% | 12% | 1.9× | 14.1% | +9.2% |
| Shimano 7309.T | Japan | $11.5B | +29% | +5% | 12% | 2.8× | 6.0% | +4.3% |
| Tata Motors Passenger Vehicles TMPV.NS | India | $11.4B | -19% | -22% | 0% | 0.3× | n/a | n/a |
| Seres 9927.HK | Hong Kong | $11.4B | -54% | -2% | -4% | 0.5× | n/a | n/a |
| Great Wall Motor 601633.SS | China | $15.0B | -29% | +8% | 2% | 0.4× | -7.1% | +16.4% |
| Yutong Bus 600066.SS | China | $10.1B | -12% | +3% | 14% | 1.4× | -10.0% | +13.8% |
| Yamaha Motor 7272.T | Japan | $10.1B | +54% | +10% | 6% | 0.8× | 4.2% | +11.5% |
| XPeng 9868.HK | Hong Kong | $9.51B | -37% | +29% | -7% | 0.9× | n/a | n/a |
| Chongqing Changan Automobile 000625.SZ | China | $9.51B | -25% | -7% | 0% | 0.5× | n/a | n/a |
| Renault RNO.PA | France | $9.39B | +2% | +6% | 6% | 1.0× | 3.4% | +5.9% |
| Tata Motors TMCV.NS | India | $16.6B | -2% | n/a | 9% | 1.6× | 17.8% | n/a |
| Isuzu Motors 7202.T | Japan | $9.26B | -1% | +5% | 6% | 0.6× | n/a | n/a |
| Stellantis STLAP.PA | France | $17.0B | -40% | -2% | -14% | 0.3× | n/a | n/a |
| Porsche Automobil Holding SE Pref PAH3.DE | Germany | $8.98B | -19% | +13% | 108% | 4.8× | 9.4% | +2.4% |
| Chery Automobile 9973.HK | Hong Kong | $17.8B | -22% | +11% | 5% | 0.0× | n/a | n/a |
| SAIC Motor 600104.SS | China | $17.8B | -24% | -3% | 2% | 0.3× | -14.7% | -2.4% |
| Hyundai Motor India HYUNDAI.NS | India | $18.3B | +16% | +8% | 7% | 2.2× | 26.6% | +11.8% |
| Oshkosh OSK | United States | $8.19B | -3% | +4% | 7% | 0.8× | 4.7% | +8.7% |
| Traton 8TRA.DE | Germany | $18.9B | +2% | +1% | 6% | 1.0× | n/a | n/a |