Daiwa Forecasts Efficiency Gains for Li Auto-W Following Strategic Revamp, Maintains "Buy" Rating

Stock News03-13 12:14

Daiwa Capital Markets has issued a research report maintaining a "Buy" rating on Li Auto-W (02015), anticipating that the company's efficiency will improve following strategic adjustments implemented last year. However, the brokerage believes the automaker still requires time to fully capitalize on growth opportunities in embodied artificial intelligence. Li Auto reported weak financial results for the fourth quarter of 2025, primarily attributed to a decline in vehicle deliveries and increased research and development expenses. During the period, revenue reached 28.8 billion yuan, representing a 35% year-on-year decrease but a 5% increase quarter-on-quarter. Adjusted non-GAAP net profit plummeted 94% year-on-year to 261 million yuan and fell 172% compared to the previous quarter. For the full year, revenue declined 22% year-on-year to 112 billion yuan, while adjusted non-GAAP net profit dropped 78% year-on-year to 2.4 billion yuan. Management projects deliveries for the first quarter of 2026 to be between 85,000 and 90,000 vehicles, indicating a year-on-year decrease of 3% to 8.5%. Total revenue for the first quarter is forecasted to be in the range of 20.4 billion to 21.6 billion yuan, a decline of 17% to 21% compared to the same period last year. The company targets achieving over 20% year-on-year sales growth for the full year 2026.

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Li Auto reported weak financial results for the fourth quarter of 2025, primarily attributed to a decline in vehicle deliveries and increased research and development expenses. During the period, revenue reached 28.8 billion yuan, representing a 35% year-on-year decrease but a 5% increase quarter-on-quarter. Adjusted non-GAAP net profit plummeted 94% year-on-year to 261 million yuan and fell 172% compared to the previous quarter. For the full year, revenue declined 22% year-on-year to 112 billion yuan, while adjusted non-GAAP net profit dropped 78% year-on-year to 2.4 billion yuan. Management projects deliveries for the first quarter of 2026 to be between 85,000 and 90,000 vehicles, indicating a year-on-year decrease of 3% to 8.5%. Total revenue for the first quarter is forecasted to be in the range of 20.4 billion to 21.6 billion yuan, a decline of 17% to 21% compared to the same period last year. The company targets achieving over 20% year-on-year sales growth for the full year 2026.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Daiwa Forecasts Efficiency Gains for Li Auto-W Following Strategic Revamp, Maintains \"Buy\" Rating</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDaiwa Forecasts Efficiency Gains for Li Auto-W Following Strategic Revamp, Maintains \"Buy\" Rating\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-03-13 12:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Daiwa Capital Markets has issued a research report maintaining a \"Buy\" rating on Li Auto-W (02015), anticipating that the company's efficiency will improve following strategic adjustments implemented last year. 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Total revenue for the first quarter is forecasted to be in the range of 20.4 billion to 21.6 billion yuan, a decline of 17% to 21% compared to the same period last year. The company targets achieving over 20% year-on-year sales growth for the full year 2026.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02015","symbol_name":"理想汽车-W","start_time":0,"source_url":"","article_id":"1195070002","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1195070002","pubTimestamp":1773375295,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Daiwa Capital Markets has issued a research report maintaining a \"Buy\" rating on Li Auto-W (02015), anticipating that the company's efficiency will improve following strategic adjustments implemented...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02015":"理想汽车-W","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","BK4588":"碎股","BK1119":"汽车制造商","BK4548":"巴美列捷福持仓","BK4551":"寇图资本持仓","BK1588":"回港中概股","BK1575":"同股不同权","LI":"理想汽车","BK4099":"汽车制造商","BK4526":"热门中概股","BK4585":"ETF&股票定投概念","BK1587":"次新股","BK4563":"昨日强势股","LU1720050803.USD":"安联全方位中国股票基金","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4555":"新能源车","BK4503":"景林资产持仓","BK1539":"汽车股"},"translate_title":"大和预测理想汽车-W在战略重组后将提高效率，维持“买入”评级","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EVS.SI":1,"LI":1,"02015":1},"content_text":"Daiwa Capital Markets has issued a research report maintaining a \"Buy\" rating on Li Auto-W (02015), anticipating that the company's efficiency will improve following strategic adjustments implemented last year. 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Total revenue for the first quarter is forecasted to be in the range of 20.4 billion to 21.6 billion yuan, a decline of 17% to 21% compared to the same period last year. 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