--- title: "\"Foreign Capital Highlights\" Goldman Sachs: Li Auto's performance in the fourth quarter of last year met expectations, recommends buying" type: "News" locale: "en" url: "https://longbridge.com/en/news/278978661.md" description: "Goldman Sachs released a research report stating that Li Auto's Q4 2025 performance met expectations, with both revenue and gross profit reaching targets, and the gross margin exceeding expectations by 0.3 basis points, reaching 16.8%. Despite high R&D expenses, the target price for the next 12 months is set at 93 yuan, with a rating of \"Buy.\" However, the revenue guidance for Q1 2026 is below expectations, projected to be between 20.4 billion and 21.6 billion yuan, with vehicle sales guidance of 85,000 to 90,000 units. Investors are focused on the gross margin guidance and the progress of artificial intelligence and autonomous driving" datetime: "2026-03-13T03:30:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278978661.md) - [en](https://longbridge.com/en/news/278978661.md) - [zh-HK](https://longbridge.com/zh-HK/news/278978661.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/278978661.md) | [繁體中文](https://longbridge.com/zh-HK/news/278978661.md) # "Foreign Capital Highlights" Goldman Sachs: Li Auto's performance in the fourth quarter of last year met expectations, recommends buying According to a research report released by Goldman Sachs on the 13th, Li Auto (02015) announced that its Q4 2025 results met expectations, with total revenue and gross profit in line with the bank's forecasts. The gross profit margin was 0.3 basis points higher than the bank's expectations, mainly benefiting from a vehicle gross profit margin that exceeded expectations by 0.6 basis points, reaching 16.8%. However, this was offset by higher R&D expenses, leading to a target price of HKD 93 and a "Buy" rating for the next 12 months. The report indicated that the revenue guidance for Q1 2026 was below expectations, with revenue guidance set at RMB 20.4 billion to RMB 21.6 billion, which is 6% and 17% lower than the bank's and market expectations, respectively. The vehicle sales guidance was set at 85,000 to 90,000 units, which is 5% higher and 10% lower than the bank's and market expectations, respectively. Goldman Sachs expects investors to focus on several key points, including the gross profit margin guidance for Q1 2026; the latest developments in the company's renewed focus on artificial intelligence and autonomous driving this year; and plans for the launch of other potential new vehicle models. \\\* Editor's Note: This article is for reference only and does not constitute an offer, solicitation, invitation, inducement, or any representation or establishment of any proposal or recommendation of any kind or form. Readers are advised to exercise their independent judgment in making investment decisions. The Economic Information Agency, the editor, and the author shall not be liable for any losses incurred as a result of related advice ### Related Stocks - [LI AUTO-W (02015.HK)](https://longbridge.com/en/quote/02015.HK.md) - [Hua Xia CSI New Energy Vehicles ETF (515030.CN)](https://longbridge.com/en/quote/515030.CN.md) - [Global X Atnms & Elctrc Vhcls ETF (DRIV.US)](https://longbridge.com/en/quote/DRIV.US.md) - [Hwabao WP CSI Intelligent Electric Vehicle ETF (516380.CN)](https://longbridge.com/en/quote/516380.CN.md) - [E Fund CSI Auto Components Thematic ETF (159565.CN)](https://longbridge.com/en/quote/159565.CN.md) - [Guotai CSI 800 Automobile and Parts ETF (516110.CN)](https://longbridge.com/en/quote/516110.CN.md) - [ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF (159323.CN)](https://longbridge.com/en/quote/159323.CN.md) - [First Trust S-Network Fut Vhcl&Tech ETF (CARZ.US)](https://longbridge.com/en/quote/CARZ.US.md) - [Li Auto Inc. (LI.US)](https://longbridge.com/en/quote/LI.US.md) ## Related News & Research - [BYD’s new EV is luring in buyers with 5 minute charging and prices starting at $22,000](https://longbridge.com/en/news/281643182.md) - [BYD Exports Surge 65% but Domestic Slump Enters Seventh Month](https://longbridge.com/en/news/281401346.md) - [BYD Sales Down 20.4% in March](https://longbridge.com/en/news/281569871.md) - [Mahindra to raise SUV, commercial vehicle prices by up to 2.5% from April 6](https://longbridge.com/en/news/281543829.md) - [Argentina & Mexico Just Placed A Massive EV Order On Brazil: 50,000 BYDs (Each) For…](https://longbridge.com/en/news/281114058.md)