文字版： Q:关于我们今年销量增速，因为我们看到理想汽车的L系列焕新版上市之后，市场反应非常热烈，但 我们同时也注意到，4月份上海车展之后，有很多竞争对手不断用更激进的价格和规格，快速对标L 系列。所以展望二季度和下半年，理想汽车如何保持今年在20万元以上级别市场实现双倍于市场的增 速目标，并持续扩大市场份额? A:我们在焕新版车型上市以后，销量表现符合我们的预期，并且呈现健康增长。目前每周的销量已经 超过1万台。5月份截止到目前，在20万元以上的新能源市场中，我们的市占率已经达到了14.7%。我 们很有信心，焕新版车型的销量将很快回到月销5万台的水平。 Halo OS与传统车载操作系统相比如何?首先，Halo OS可以完全替代标准车载操作系统的核心功能。 在此基础上，它在传统车载操作系统表现不佳的领域展现出显著优势，比如更高效的资源使用和真正 的端到端时确定性。 更进一步，道过重新定义系统架构，我们能够解决现有汽车软件架构相对臃肿的一些限制，特别是在 实现更快速、更敏捷的创新方面。 Q:i8和i6都有时间规划了，如果看现有的L6和L8，客户画像差异比较一下?纯电市场的核心竞争力是 什么? A:首先理想汽车的 ...

Core Viewpoint - The company reported its Q1 2025 financial results, showing a revenue of 25.98 billion, a gross margin of 20.5%, and a net loss in free cash flow of 2.53 billion, indicating a challenging financial environment but with some positive indicators for future quarters [1][2]. Financial Performance Summary - Q1 2025 revenue was 25.98 billion, with a gross profit of 5.32 billion and an operating profit of 272 million [1]. - The company provided guidance for Q2 2025 deliveries between 123,000 and 128,000 units, with revenue expectations of 32.5 billion to 33.8 billion [1]. - Q1 2025 operating cash flow was -1.7 billion, capital expenditures were 830 million, and cash reserves stood at 110.7 billion [1]. - Compared to Q4 2024, Q1 2025 revenue decreased by 18.34 billion, while free cash flow improved from -5.06 billion in Q1 2024 to -2.53 billion in Q1 2025 [1]. Expense Analysis - Q1 2025 operating expenses were 5.047 billion, slightly higher than previous quarters, contributing to the operating profit of 272 million [2]. - Research and development expenses were 2.513 billion, while selling, general, and administrative expenses were 2.531 billion [2]. - Operating expenses decreased by 220 million compared to Q4 2024 [2]. Inventory and Accounts Management - Q1 2025 inventory levels were at 10.09 billion, representing 38.9% of quarterly revenue, an improvement from 47.4% in Q1 2024 [4]. - Accounts receivable stood at 690 million, accounting for 0.27% of quarterly revenue, while accounts payable were 51.959 billion, representing 200.38% of quarterly revenue [3].

理想材料技术负责人微博用户吉超超有材认为强度过高可能导致脆性明显增加，一旦在极端冲击下发 生脆断，不仅吸能能力差、抗力差，还可能导致碎片飞溅，反而带来新的安全隐患。 高强度材料也不是越多越好，超过一定限度，发生碰撞事，车体难以发生有效形变，冲击力和能量无 法有效吸收， 最终传递到乘员身上。 理想自己不断宣传高强度材料不是在双标，理想的高强度材料不是追求强度最大化，而是灵活性、强 度、韧性的平衡，性能、工艺的平衡。 省流版： 以下为原文： 1、现象 大家有没有发现一个现象，当车辆的基础配置越来越接近，如何让用户理解技术的差异性，从而 为"差异点"买单呢？ 于是，一些垂向的细分参数，被拿来当卖点，以说服消费者相信自己的技术能力。 电机极限转速、一体压铸的吨位、电池能量密度试比天"高"，风阻系数、必须"低"人一头…… 这里 有些数据确实能直接体现部分"技术"水平，但也很可能被"数字"裹挟，让用户以为这就是真实的"用 户价值"和"技术实力"。 举例说，压铸吨位、钢板强度，当超过一定范围时，跟车身安全还有直接关系吗，是真实的技术优 势，还是营销点？值得思考。 2、基础科普 1）"强度"和"韧性" 给大家说2个钢板材料基 ...

i8发布剩余时间进度值：69.19% 来源： 北北自律机 25年05月28日星期三 理想超充 4 新增。 超充建成数：2336→2340座 25年05月27日星期二 理想超充 6 新增。 超充建成数：2330→2336座 基于i8发布日期 2500+座目标 新增数进度值：78.01%→78.78% i8发布剩余65天（按7月31假设） 需每日 2.52 座，达到 i8发布 目标值 基于2025年底4000+座目标 今年新增数进度值：26.53%→26.79% 为城市4C站，规格：4C × 6 今年剩余218天 江苏省 今年时间进度值：40.27% 需每日 7.63 座，达到年底目标值 【附】6 座新增建成 安徽省 六安市 六安华邦新华城 南京市 南京中科创新广场 为城市4C站，规格：4C × 6 上海市 ———————————————————— 闵行区 上海双柏工业园南侧停车场 为城市4C站，规格：4C × 6 四川省 成都市 成都郫都鹃兴路 宜昌九州方园大酒店 为城市4C站，规格：4C × 6 上海市 浦东新区 上海浦东居里路 为城市4C站，规格：4C × 6 广东省 清远市 清远清城万达广场 为城市4C站 ...

Core Viewpoint - The event aims to gather user feedback and concerns regarding the i8i6 model before its release, facilitating a more targeted approach for the company [1] Group 1: Event Details - The event is organized by a TOP2 organization and is not an official activity [1] - It is free of charge and scheduled for June 8, 2025, at 14:00 [1] - The location is the Ideal Automotive Beijing Huamao Retail Center [1] - There are a total of 20 slots available, with 12 remaining [1] Group 2: Purpose and Format - The purpose is to efficiently collect potential user pain points and questions regarding the i8i6 model [1] - The event will consist of two rounds of discussions, each participant having 2 minutes to speak [1] - The first round focuses on expectations for the i8i6, including product features, market performance, and competitive advantages [1] - The second round addresses user concerns about charging and battery technology, including expectations for charging station density and willingness to pay for extended range [1] Group 3: Communication and Expectations - The product head, Tang Huayin, will not disclose any non-public information but will actively listen to user feedback [1] - It is emphasized that Tang will only commit to listening and recording feedback without providing immediate responses [1] - Interested participants are encouraged to add the TOP2 WeChat for further engagement [1]

Core Insights - The article discusses the progress of the company's supercharging station construction, highlighting the current number of stations and future targets [1] Group 1: Current Progress - The total number of supercharging stations has increased from 2328 to 2330 [1] - The progress towards the goal of 2500+ stations by the i8 release date is at 78.01% [1] - There are 66 days remaining until the i8 release, with a progress value of 68.72% [1] Group 2: Daily Requirements - To meet the i8 release target, the company needs to build an average of 2.58 stations per day [1] - For the goal of over 4000 stations by the end of 2025, the company needs to build an average of 7.63 stations per day for the remaining 219 days of this year [1] Group 3: New Stations - Two new supercharging stations have been completed: one in Changsha, Hunan Province, and another in Ganzhou, Jiangxi Province [1] - The specifications for the new stations include a 4C × 6 configuration in Changsha and a 4C × 4 configuration in Ganzhou [1]

Core Viewpoint - The article discusses the potential of Li Auto's electric vehicles, particularly the i8 model, and the importance of achieving a CLTC range above 800 km to enhance user experience and market acceptance [1]. Group 1: User Experience and Expectations - A user with extensive experience in electric vehicles expresses disappointment that the i8 model does not exceed 800 km CLTC, indicating that this could limit its appeal to a broader audience [2]. - The user emphasizes the significant marginal utility of additional range, suggesting that achieving a range that allows for fewer charging stops would enhance the driving experience [3]. - The user believes that a range of around 700 km CLTC is insufficient for long-distance travel, as it requires more frequent charging stops compared to a vehicle with a range of 800 km [3]. Group 2: Charging Infrastructure and User Sentiment - The article highlights the importance of charging station density and accessibility, noting that a well-distributed network of charging stations can significantly improve user confidence and satisfaction [6]. - The user shares insights on the current charging experience in various regions, particularly in Hunan, where the availability of charging stations is limited, impacting overall satisfaction [6]. - The article identifies two main issues affecting charging experiences: the density of charging stations and the potential for long wait times during peak periods [6]. Group 3: Real-World Performance Expectations - The user provides insights into real-world performance expectations, suggesting that summer driving could yield a range of 550 km or more, while winter driving might achieve around 450 km [4]. - The user notes that many electric vehicle owners may overestimate their vehicle's range based on ideal conditions, leading to discrepancies in real-world performance [4]. - The article discusses the importance of understanding the actual usable range of electric vehicles, emphasizing that additional range contributes to a sense of security for drivers [4].

Core Viewpoint - The development history of Li Auto's air suspension system is closely linked to the evolution of air suspension technology in China, highlighting the significant impact of local innovation and adaptation in the automotive industry [1][7]. Group 1: Historical Context and Development - The launch of the L9 in June 2022 marked a pivotal moment, as it was the first instance of a domestic air suspension system being mass-produced and standardized in China [3][4]. - Prior to the L9, domestic air suspension systems had not been produced in large quantities, with suppliers like Konghui only providing around 10,000 sets in 2021 [3][6]. - The failure of a German air suspension during a test drive prompted a shift towards domestic solutions, leading to a rapid development and improvement of local air suspension technology [4][8]. Group 2: Market Performance and Growth - In 2022, Li Auto sold 5.9 million sets of air suspension, while Konghui and Baolong sold 50,000 and 39,000 sets respectively, indicating a growing domestic market share [6]. - By 2023, Konghui's sales surged to 250,000 sets, making it the leading supplier, while Li Auto's sales reached 325,000 sets, reflecting a significant increase in domestic production and adoption [6][7]. - The trend continued into 2024, with Konghui and Li Auto maintaining strong sales figures, further solidifying their positions in the market [6][10]. Group 3: Technological Advancements - Li Auto's L9 was the first to feature a domestically produced single-chamber air spring, overcoming several technical challenges that had previously hindered mass adoption [9][10]. - The company also took control of the air spring calibration software, which had been previously managed by German engineers, showcasing a shift towards self-reliance in technology [9][10]. - In 2024, the introduction of a dual-chamber air spring in the L9 marked another milestone, further enhancing the vehicle's performance and control [10]. Group 4: Strategic Decisions and Management - A critical decision by the management to abandon reliance on a problematic German supplier in favor of domestic production was pivotal in the success of Li Auto's air suspension systems [22][24]. - The collaboration with Konghui involved intensive efforts from both companies, with teams working around the clock to resolve technical issues and ensure quality [24]. - The management's decisive actions during challenging times exemplified the importance of leadership in navigating supply chain and production challenges [24].

Core Insights - The article discusses the progress of the company's supercharging station construction, highlighting the current number of stations and future targets [1] Group 1: Current Progress - The total number of supercharging stations has increased from 2322 to 2328, achieving a progress value of 77.75% towards the goal of 2500+ stations by the i8 release date [1] - The remaining time until the i8 release is 67 days, with a progress value of 68.25%, requiring an average of 2.57 new stations to be built daily to meet the target [1] Group 2: Yearly Goals - For the year, the progress towards the goal of over 4000 stations by the end of 2025 is at 26.44%, with 220 days remaining in the year [1] - To meet the end-of-year target, an average of 7.60 new stations must be constructed daily [1] Group 3: New Stations Details - Six new supercharging stations have been completed in various locations, including: - Beijing: 4C × 4 configuration - Fuzhou: 4C × 4 configuration - Quanzhou: 4C × 6 configuration - Zhongshan: 4C × 6 configuration - Changzhou: 4C × 8 configuration - Shaoxing: 4C × 8 configuration [1]

Core Viewpoint - The company is making significant progress in expanding its supercharging network, with a target of over 2500 stations by the i8 release date and over 4000 stations by the end of 2025 [1]. Group 1: Supercharging Network Expansion - The total number of supercharging stations has increased from 2316 to 2322 [1]. - The progress towards the 2500+ station goal for the i8 release is at 76.97%, with 69 days remaining until the release [1]. - To meet the i8 release target, an average of 2.58 new stations need to be built daily [1]. Group 2: Year-End Goals - The progress towards the goal of over 4000 stations by the end of 2025 is at 26.18%, with 222 days remaining this year [1]. - To achieve the year-end target, an average of 7.56 new stations must be constructed daily [1]. Group 3: New Stations Details - Nine new supercharging stations have been completed in various locations, including: - Beijing: 4C × 6 at Beijing Rui E Space Industrial Park - Hainan: 4C × 6 at Sanya Blue Ocean Shopping Plaza - Hubei: 4C × 6 at Wuhan All Seasons Hotel - Jiangsu: 4C × 6 at Yuyue Plaza - Jiangxi: 4C × 4 at Nanchang Greenland International Convention Center - Zhejiang: 4C × 4 at Hangzhou UDC Times Building [1].