Company: LI
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001410578-25-000678
Chunk: 12

Company: Li Auto Inc.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 12
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 as fees to our PRC subsidiaries under tax neutral contractual arrangements. If, in the future, the accumulated earnings of the VIEs exceed the service fees paid to our PRC subsidiaries (or if the current and contemplated fee structure between the intercompany entities is determined to be non-substantive and disallowed by PRC tax authorities), the VIEs could make a non-deductible transfer to our PRC subsidiaries for the amounts of the stranded cash in the VIEs. This would result in such transfer being non-deductible expenses for the VIEs but still taxable income for the PRC subsidiaries. Our management believes that there is only a remote possibility that this scenario would happen. 
As of December 31, 2024, the VIEs and their subsidiaries did not pay any service fees to Wheels Technology.

6

Financial Information Relating to the VIEs 
The following tables present the condensed consolidating schedules for our consolidated variable interest entities and other entities for the years and as of the dates indicated.
Condensed Consolidating Schedule of Statements of Income/(Loss) Information
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                            ​                               ​        ​          ​          ​          ​         ​         ​         ​          ​         ​          ​          ​      
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​                                                           ​   For the Year Ended December 31, 2024                                                                                  
​                                                               ​                                ​             Primary             VIEs and         ​                    ​            
​                                                           ​   ​              ​             Other   ​     Beneficiary   ​            VIEs’   ​     Eliminating    ​     Consolidated 
​                                                           ​   Li Auto Inc.   ​      Subsidiaries   ​         of VIEs   ​     Subsidiaries   ​     Adjustments    ​     Totals       
​                                                           ​   (RMB in thousands)                                                                                                    
Third-party revenues                                        ​   —                      144,411,378              24,963               23,605         —                    144,459,946  
Inter-company revenues(1)                                   ​   —                          272,269          10,397,969            1,733,503         (12,403,741)         —            
Third-party cost                                            ​   —              ​     (114,312,446)   ​       (483,642)   ​          (7,720)   ​     —              ​     (114,803,808)
Inter-company cost                                          ​   —                      (9,163,047)            (17