--- title: "Soochow Securities Co., Ltd.: Li Auto-W is firmly moving towards fully embracing AI, maintaining a \"Buy\" rating" type: "News" locale: "en" url: "https://longbridge.com/en/news/290158354.md" description: "Soochow Securities Co., Ltd. released a research report, maintaining a \"Buy\" rating for Li Auto. The report pointed out that Li Auto is firmly embracing AI, revealing progress in software, base models, and self-developed chips through the Livis Day launch event, redefining embodied intelligent vehicles. The institution expects the company's revenue for 2026-2028 to be 114.4 billion, 173.7 billion, and 184 billion yuan respectively, with net profit attributable to the parent company at 2.2 billion, 2.8 billion, and 5.3 billion yuan, believing that its advancement in software and embodied intelligence is promising" datetime: "2026-06-18T07:38:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290158354.md) - [en](https://longbridge.com/en/news/290158354.md) - [zh-HK](https://longbridge.com/zh-HK/news/290158354.md) --- # Soochow Securities Co., Ltd.: Li Auto-W is firmly moving towards fully embracing AI, maintaining a "Buy" rating According to Zhitong Finance APP, Soochow Securities released a research report stating that Li Auto-W (02015) is firmly moving towards fully embracing AI. The firm maintains its revenue expectations for the company at RMB 114.4 billion / 173.7 billion / 184 billion for 2026/2027/2028, representing year-on-year growth of +2%/+52%/+6%, respectively. It maintains the company's net profit attributable to shareholders for 2026/2027/2028 at RMB 2.2 billion / 2.8 billion / 5.3 billion. The EPS for 2026/2027/2028 is projected to be -1.04 / 1.31 / 2.43 yuan, with corresponding PEs of 37/20 times for 2027/2028. The firm believes that the company's advancement in software and embodied intelligence, along with the embrace of AI, is promising, maintaining a "Buy" rating. ## Soochow Securities' main points are as follows: **Li Auto holds Livis Day software and embodied intelligence launch event, redefining "embodied intelligent vehicles"** The company held the Livis Day software and embodied intelligence launch event, systematically disclosing its progress in software, foundational models, and self-developed chips. The firm believes the core highlight of this launch event is the reconstruction of product paradigms: the company points out that existing robots, AI, intelligent driving, and vehicle upgrades in the industry should be viewed as "capabilities" rather than "products," and defines embodied intelligent vehicles as a single product with four integrated attributes—first, an electric vehicle that serves real scenarios and can participate in users' lives; second, a professional driver that can reliably complete travel and life tasks, understanding roads/risks/traffic regulations; third, a dedicated AI computer that integrates design, computing power, and memory of flagship smartphones and computers; fourth, a trustworthy life assistant that understands user habits and replaces "functional operations" with "demand delivery." **Planning and Outlook** In the second half of 2026, three-node OTA, aligning with FSDV14 by the end of the year. The company plans to push a Mach VLA trimmed model to old car owners on the Orin and Thor platforms in Q3 2026, achieving alignment of Li Auto's intelligent driving model with Tesla's FSDV14 in Q4 2026. The company clearly states that the OTA in the second half of 2026 will focus on three nodes: July, September, and December, with the goal of improving intelligent driving efficiency by about 30% in July, focusing on human-like operations in September, and aiming for safety and efficiency to surpass human capabilities in December. **Intelligent Cockpit** Vehicle hardware reaches a new level. The global debut of the Qualcomm Snapdragon 8797 (8797 Elite) platform features approximately 550K CPU task processing capability, 8.1T GPU rendering, and 320 TOPS NPU; the industry's first panoramic screen with 90Hz high refresh rate and 180Hz touch sampling, with a front display bandwidth of 23.5G. The audio system is upgraded to a 9.3.6 solution, with a peak power of 5440W, and equipped with Livis Pods headrest speakers, ecologically compatible with CarPlay and Apple Music. **Foundational Model** Dual wheels of language intelligence + machine intelligence. The language side launches the native Agent model Mach Mind-Pro, supplemented by Mind-Edge on the vehicle side. It ranks in the first tier in benchmarks such as IFEval and BFCL-v4, achieving a 38% reduction in token consumption with zero decay in task completion rate through token compression and mixed RL training, and a 47% reduction in tool invocation redundancy TPS peak of 208 token/s. The machine intelligence side will enter the Mach VLA era starting from May 2026, with the emergence of the Scaling Law for computational data models with three variables. **Self-developed Chips** The Mach M100 has entered mass production, and the paper has been selected for ISCA 2026. The M100 is the world's first data flow architecture edge AI chip for vehicles, using a 5nm automotive-grade process, with a single chip performance of 1280 TOPS, abandoning the von Neumann central instruction scheduling in favor of a "data is computation" orchestrated data flow. In terms of performance, under the same power consumption and similar area, the UniAD frame rate is approximately 3.8 times that of Thor-U. Li Auto has achieved full-stack self-research in chips, compilers, operating systems, AI algorithms, and domain controllers. **Risk Warning:** The price war in passenger vehicles exceeds expectations; terminal demand recovery is lower than expected; the pace of L3-level intelligent driving policy rollout is slower than expected ### Related Stocks - [LI.US](https://longbridge.com/en/quote/LI.US.md) - [02015.HK](https://longbridge.com/en/quote/02015.HK.md) - [601555.CN](https://longbridge.com/en/quote/601555.CN.md) ## Related News & Research - [Morgan Stanley Sticks to Its Buy Rating for Li Auto, Inc. 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