Li Auto Inc. (LI AUTO-W) has filed its Monthly Return for Equity Issuers with Hong Kong Exchanges and Clearing Ltd. for the month ended 31 August 2026, detailing a series of capital-management activities led by an on-market share repurchase programme.

Key Takeaways 1. Buybacks: The company repurchased 7.54 million Class A weighted-voting-right (WVR) shares between 3–31 August under the mandate approved on 29 May 2026. Thirteen trades were executed in the U.S. market at prices ranging from USD 6.09 to USD 6.58, totalling roughly USD 43.76 million for 6.95 million shares. An additional 0.60 million shares were bought in Hong Kong at HKD 47.81 each, equal to about HKD 28.57 million. All repurchased shares were moved to treasury, lifting the treasury stock balance to 92.25 million.

2. Share Capital Structure: • Authorised capital stayed unchanged at 5.00 billion shares (4.50 billion Class A, 0.50 billion Class B) with an aggregate par value of USD 0.50 million. • Total issued shares were stable at 1.82 billion, as repurchases were offset by an equal increase in treasury shares. Outstanding Class A shares fell to 1.73 billion, while Class B issued shares remained at 345.20 million. • Li Auto confirmed compliance with the Hong Kong Stock Exchange’s 25% minimum public-float requirement for its listed Class A shares.

3. Employee Equity Plans: • Option exercises: 146,000 options (30,000 under the 2019 Plan and 116,000 under the 2020 Plan) were exercised, generating USD 0.01 million in proceeds and utilising existing treasury-held shares; no new shares were issued. • Post-exercise, 72.57 million options remain outstanding (24.99 million under the 2019 Plan; 47.58 million under the 2020 Plan). The two schemes still allow up to 146.30 million additional shares to be issued upon future grants and exercises. • Restricted Share Units (RSUs): 31.94 million RSUs (27.40 million under the 2019 Plan and 4.55 million under the 2020 Plan) could be settled in new or treasury shares. During August, 0.79 million RSUs lapsed.

4. Convertible Notes: The company’s USD-denominated 2028 senior convertible notes outstanding stood at USD 145.70 million, unchanged during the month. Full conversion at USD 14.17 per share would result in the issuance of up to 10.28 million additional Class A shares.

Overall, Li Auto’s August activity centred on executing its previously authorised buyback, modest option exercises and maintaining flexibility through sizable unexercised equity incentives and convertible notes, while keeping its total issued share count and public-float status intact.