Li Xiang is considering a potential share buyback of Hong Kong-listed stock in Li Auto as the company’s share price remains close to historic lows, according to a report by Chinese media outlet 21jingji.
The company’s shares on the Hong Kong Stock Exchange fell to a record low of HK$61.15 ($7.81) on January 20. Over the past two months, the stock has continued trading near that level, closing at HK$69.85 on Wednesday.
Details of the potential buyback, including the scale of the repurchase and the amount of capital involved, are still under discussion, according to the report, which cited several sources familiar with the matter.
A representative for Li Auto told the outlet that discussions remain at an early stage and no final decision has been made regarding a buyback plan.
If implemented, the move would mark the first time the company’s management has conducted a share repurchase since Li Auto completed its secondary listing in Hong Kong in August 2021.
The consideration comes during a difficult period for the company. Li Auto reported a 19% year-on-year decline in deliveries in 2025, with total vehicle deliveries reaching 406,300 units, missing its sales target.
The weaker sales performance has coincided with increased competition in China’s electric vehicle market, including rival models from Aito.
At the same time, the company has faced internal management changes. Several senior executives have left the firm since the start of 2026, including Han Ling, who led the company’s smart driving product unit, and Chen Wei, previously responsible for foundation models.
Analysts say the combination of slowing sales, rising competition and executive departures has contributed to volatility in Li Auto’s share price.
