Li Auto experienced a downturn in its gross profit margin during the third quarter, primarily due to the proactive recall of select Li Auto MEGA vehicles at the end of October and the subsequent inclusion of associated costs, ultimately leading to a loss for that period. On November 26, Li Auto unveiled its financial performance, revealing that in the third quarter of 2025, the company generated revenue amounting to RMB 27.365 billion, marking a 36.2% year-on-year decrease. Nevertheless, this figure slightly surpassed the market's projected estimate of RMB 26.6 billion. The company reported a net loss of RMB 624 million, a stark contrast to the net profit of RMB 2.821 billion recorded during the same period the previous year. Additionally, the adjusted (Non-GAAP) net loss stood at RMB 360 million, compared to a net profit of RMB 3.851 billion in the corresponding period of the prior year. By the end of the third quarter, Li Auto's cash reserves had reached RMB 98.9 billion.