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Li Auto Inc., founded by Li Xiang in 2015, is a prominent player in the electric vehicle market in China. Headquartered in Beijing with manufacturing facilities in Changzhou, Li Auto specializes in the development and production of premium smart NEVs (New Energy Vehicles), focusing specifically on electric vehicles that utilize range extenders for power supply.
In November 2019, Li Auto commenced volume production of its first model, the Li One, a large premium plug-in electric SUV with a six-seater configuration. The Li One is equipped with a sophisticated range extension system and advanced smart vehicle solutions, making it a popular choice among consumers. By 2023, Li Auto had sold over 376,000 NEVs, capturing approximately 4% of China's passenger new energy vehicle market.
Li Auto is not limited to the Li One model; the company is actively expanding its product line to include both Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs), aiming to cater to a broader range of consumer needs. This strategic diversification underscores Li Auto's commitment to innovation and market leadership in the premium NEV segment.
The company's recent achievements and current projects highlight its dynamic presence in the automotive industry. For instance, Li Auto has recently launched new models and continuously updates its existing lineup to incorporate the latest technological advancements. Moreover, Li Auto's strategic partnerships and collaborations further bolster its market position, driving growth and enhancing its competitive edge.
Financially, Li Auto has demonstrated robust performance. The company's recent financial highlights for the first quarter of 2024 reveal key metrics such as revenue, cost of sales, gross margin, operating expenses, and net income. These financial results reflect Li Auto's operational efficiency and market demand for its innovative products.
For investors and stakeholders, Li Auto Inc. represents a compelling opportunity in the rapidly evolving electric vehicle market. With a strong foundation, strategic vision, and commitment to excellence, Li Auto is well-positioned to continue its growth trajectory and make significant strides in the NEV industry.
Li Auto Inc. (Nasdaq: LI; HKEX: 2015) reported a 23.8% year-over-year increase in vehicle deliveries for May 2024, totaling 35,020 units. The company has now achieved cumulative deliveries of 774,571 vehicles. Since its launch on April 24, 2024, 15,000 units of the Li L6 have been delivered, marking a record pace. Sales of the Li L7, Li L8, and Li L9 models are also gaining momentum due to new pricing strategies. Li Auto's market share in the RMB200,000+ NEV segment grew to 13.5% from January to April, consolidating its leading position among Chinese auto brands. The company operates 487 retail stores, 374 service centers, 214 authorized body shops, and 426 supercharging stations across China.
Li Auto Inc., a prominent player in China's new energy vehicle market, held its annual general meeting (AGM) in Beijing on May 31, 2024. During the meeting, all proposed resolutions outlined in the AGM notice dated April 23, 2024, were approved by shareholders. Key outcomes include the re-election of directors Xing Wang and Zhenyu Jiang, and the granting of mandates to the directors for issuing and repurchasing Class A ordinary shares. These authorizations empower the company to manage its share capital effectively.
Li Auto Inc. reported its unaudited Q1 2024 financial results, highlighting a total revenue of RMB25.6 billion (US$3.6 billion) and deliveries of 80,400 vehicles, which marks a 52.9% YoY increase. Vehicle sales reached RMB24.3 billion (US$3.4 billion), up 32.3% YoY but down 39.9% QoQ. The vehicle margin was 19.3%, slightly lower than the previous year's 19.8%. Gross profit was RMB5.3 billion (US$731.9 million), up 38% YoY but down 46% QoQ. Operating expenses rose by 71.4% YoY to RMB5.9 billion, leading to a loss from operations of RMB584.9 million (US$81.0 million). Net income stood at RMB591.1 million (US$81.9 million), a 36.7% decline YoY. Non-GAAP net income was RMB1.3 billion (US$176.8 million). The company expects Q2 2024 deliveries between 105,000 and 110,000 vehicles, with total revenues between RMB29.9 billion (US$4.1 billion) and RMB31.4 billion (US$4.3 billion).
Li Auto Inc. will report its unaudited financial results for the first quarter of 2024 on May 20, 2024. The earnings conference call will be held on the same day. Li Auto is a key player in China's new energy vehicle market.
Li Auto Inc. announced delivering 25,787 vehicles in April 2024, showing a 0.4% year-over-year increase. The total deliveries reached 739,551 by the end of April. The company introduced Li L6, its first model under RMB300,000, which gained popularity. Li Auto will offer complimentary charging services during the May Day holiday and launch OTA version 5.2 enhancing autonomous driving features. The company is focused on user value and product improvement.
Li Auto Inc. has completed its put right offer for its 0.25% Convertible Senior Notes due 2028. The offer expired on April 29, 2024, with no Notes surrendered for repurchase. US$862,500,000 aggregate principal amount of the Notes will remain outstanding.
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