🤯 SAI Lisi’s (AITO/Wenjie vehicles) stock hit the daily limit after posting a pre-loss of over 1.5 billion yuan; due to higher storage chip prices, the cost of an average AITO vehicle 🚗 increased by 15k to 20k yuan

Due to the pre-loss in the first half of the year, SAI Lisi’s share price then plunged. By 13:58 p.m. on the day, SAI Lisi’s A-shares fell to 53.91 yuan, a drop of 10%; its Hong Kong shares fell to HK$42.16, a decline of 11.80%‌.

SAI Lisi Group Co., Ltd. released a 2026 first-half performance pre-loss announcement. The announcement shows that it expects net profit attributable to shareholders of the listed company for the first half of 2026 to be -15k yuan to -20k yuan, and net profit attributable to shareholders after deducting non-recurring gains and losses to be a loss of -1.8B yuan to -1.5B yuan.

On June 12, SAI Lisi Chairman Zhang Xinghai said at the China Association of Automobile Manufacturers Chongqing Auto Forum that the cost of an average AITO vehicle increased by 15k to 20k yuan, “the pressure is still very high.” He said that the price of storage chips rose from about 20 yuan per unit to nearly 100 yuan, and lithium carbonate rose from 80k yuan per ton in the same period last year to 180k yuan per ton.

Second, AITO’s core subsidiary turned from profit to loss. With upstream raw material prices rising and competition in the downstream auto market intensifying while price increases are difficult, under the dual pressure, AITO’s first-half performance turned from profit to loss.

This year’s first half saw intensified competition in China’s auto market, putting overall industry under pressure. SAI Lisi’s new energy vehicle cumulative sales reached 178,777 units, including AITO’s cumulative deliveries of new cars up 10.2% year over year. Compared with SAI Lisi’s first-half 2025 cumulative sales of 172,108 units (up 3.87% year over year), AITO’s cumulative sales were 152,300 units (up 5.60% year over year), achieving steady growth against the headwinds.

But the growth in sales failed to offset cost erosion. In the first half, AITO’s expected net profit attributable to the parent company was a loss of -2.5B yuan to -10.50 billion yuan, and profit after deducting non-recurring items was a loss of -15k yuan to -20k yuan. Among them, AITO’s second-quarter year-quarter single-quarter net profit attributable to the parent company fell to a loss of -80k yuan to -180k yuan, which was the main factor dragging down first-half performance.

Third, product model replacement significantly amplified one-time impairment losses on the books. In its announcement, SAI Lisi said, based on the prudence principle, the company adjusted the book values of certain inventory assets whose suitability is limited due to technology iteration and model replacement, further strengthening the overall quality of its assets. Put simply, it is like “discounting” on the ledger the old molds accumulated in the warehouse, the dedicated production lines, and customized chips/components stocked for old models. Because these assets are specifically for old models, with technical upgrades and new model launches (for example, AITO plans to release a new model), according to regulations the company proactively reduces the carrying value of these assets on its books.