Li Auto - W2025 annual net profit is 1.1 billion yuan, a year-on-year decrease of 85.8%.

Ideal Group-W(02015) Issues Announcement: In the fourth quarter of 2025, vehicle sales revenue was 27.3 billion yuan (RMB, the same below), down 36.1% from 42.6 billion yuan in the fourth quarter of 2024, and up 5.4% from 25.9 billion yuan in the third quarter of 2025. Total revenue was 28.8 billion yuan, down 35.0% from 44.3 billion yuan in the fourth quarter of 2024, and up 5.2% from 27.4 billion yuan in the third quarter of 2025. Net profit was 20.20 million yuan, compared with net profit of 3.5 billion yuan in the fourth quarter of 2024, and a net loss of 624.4 million yuan in the third quarter of 2025.

In 2025, vehicle sales revenue was 106.7 billion yuan, down 23.0% from 138.5 billion yuan in 2024. Total revenue was 112.3 billion yuan, down 22.3% from 144.5 billion yuan in 2024. Net profit was 1.1 billion yuan, down 85.8% from 8.0 billion yuan in 2024.

In January and February 2026, the Company delivered 27,668 and 26,421 vehicles, respectively. As of February 28, 2026, nationwide, the Company has 539 retail centers in 160 cities, and operates 548 after-sales repair centers and authorized service centers in 223 cities. It has also deployed 4,054 Ideal ultra-fast charging stations, equipped with 22,447 charging piles.

Mr. Li Xiang, Chairman and Chief Executive Officer of Ideal Group, said: “Following our active strategic adjustments in 2025, since the fourth quarter we have started to see positive changes in terms of organizational efficiency, supply capability, and the sales system, including improved store efficiency, alleviation of production capacity issues with Ideal i6, and a rebound in sales of Ideal i8. In 2026, we will enter an important product cycle. The new Ideal L9 launching in the second quarter will achieve comprehensive upgrades in the powertrain system, intelligent driving, and chassis technologies, bringing users an improved next-generation experience. Going forward, Ideal Group will continue to refine its R&D system for AI-driven transformation, with stable R&D investment, to support long-term product innovation and technology breakthroughs.”

Mr. Li Tie, Chief Financial Officer of Ideal Group, added: “Facing near-term challenges brought by the transition of the product cycle and intensifying industry competition, we rely on solid operational capabilities and strict cost management to achieve a highly resilient gross margin in the fourth quarter. Our prudent financial position also supports our performance, helping the Company achieve profitability at the annual net profit level. By year-end, the Company’s cash reserves reached 101.2 billion yuan, remaining strong and providing ample momentum for us to seize the broad opportunities in the field of embodied intelligence and accelerate global expansion.”