For the Year Ended December 31,

2023

2024

2025

Numerator:

Net income attributable to ordinary shareholders of Li Auto Inc.

11,704,133

8,032,350

1,124,438

Dilution effect arising from convertible debt

32,657

33,451

33,547

Net income attributable to ordinary shareholders of Li Auto Inc. for computing diluted net earnings per share

11,736,790

8,065,801

1,157,985

Denominator:

Weighted average ordinary shares outstanding—basic

1,967,863,759

1,993,191,951

2,015,070,194

Effects of dilutive securities

Options and RSUs

86,651,528

75,220,374

66,796,228

Convertible debt

60,861,105

Weighted average ordinary shares outstanding—diluted

2,115,376,392

2,129,273,430

2,142,727,527

Basic net earnings per share attributable to ordinary shareholders of Li Auto Inc.

5.95

4.03

0.56

Diluted net earnings per share attributable to ordinary shareholders of Li Auto Inc.

5.55

3.79

0.54