Li Auto closed at $13.58 on June 17, down 3.3% and pinned to its 52-week low of $13.36. For a company that was the profitable exception among Chinese EV makers, the slide stings: the most recent quarter swung to a roughly $263 million net loss, May deliveries fell ~18% year-on-year to 33,350, and the once-clean earnings story is now muddied.
| Metric | Value |
|---|---|
| Close (Jun 17 2026) | $13.58 (-3.3%) |
| 52-week range | $13.36 – $32.03 |
| Profitability | Latest quarter ~-$263M loss |
| Analyst avg target | $18.55 (weak Buy / Hold) |
The bull case
Li Auto just launched the all-new L9, which drew 10,000+ orders in two weeks, and guided Q2 2026 deliveries to 95,000–100,000 with gross margin recovering toward ~10%. If that guide lands, the recent loss looks like a transition quarter rather than a trend, and at the 52-week low with an $18.55 average target, the rebound math is attractive. The company still has a strong balance sheet and a differentiated extended-range product.
The bear case
The premise that defined Li Auto — that it was the Chinese EV maker that actually earned money — just cracked. A swing to a quarterly loss plus an 18% delivery drop says the China price war is reaching even the strongest players, and recent analyst cuts (HSBC to $15.60) reflect fading conviction. "Margin recovering toward 10%" is guidance, not results.
My verdict
This is a hold — a "show me" at the low. The L9 momentum and the Q2 guide are encouraging, but I won't pay up until the delivery rebound and margin recovery actually print. As Ruslan Averin, I'd start small near the $13 floor and add only on confirmation in the next deliveries report. The risk/reward improves at the 52-week low, but a broken profit story has to be re-earned.
Bottom line: Li Auto went from profit machine to a quarterly loss at its 52-week low — the L9 and a strong Q2 guide could fix it, but I hold small until the rebound is on the tape.