2025-04-10 12:24Financial Performance - Quarterly total revenues reached RMB44.3 billion (US$6.1 billion), representing a 6.1% year-over-year increase[7] - Full year total revenues were RMB144.5 billion (US$19.8 billion), reflecting a 16.6% increase from RMB123.9 billion in 2023[14] - Li Auto achieved record performance in Q4 2024, with total revenues of RMB44.3 billion, a 6.1% increase year-over-year[23] - Vehicle sales revenue reached RMB42.6 billion in Q4 2024, up 5.6% from RMB40.4 billion in Q4 2023, driven by increased vehicle deliveries[23] - Full-year revenues for 2024 totaled RMB144.5 billion, representing a 16.6% increase from RMB123.9 billion in 2023[33] - Total revenues for the three months ended December 31, 2024, reached RMB 44,273,672, representing a 6.5% increase from RMB 42,874,218 in the previous quarter[50] Deliveries and Sales - Quarterly deliveries reached 158,696 vehicles, a 20.4% increase from the same quarter in 2023[6] - Full year deliveries totaled 500,508 vehicles, a 33.1% increase from 376,030 vehicles in 2023[6] - Vehicle deliveries are projected to be between 88,000 and 93,000, reflecting a year-over-year increase of 9.5% to 15.7%[41] Profitability - Net income for Q4 2024 was RMB3.5 billion (US$484.0 million), a decrease of 38.6% from RMB5.8 billion in Q4 2023[11] - Net income for 2024 was RMB8.0 billion (US$1.1 billion), a decrease of 31.9% from RMB11.8 billion in 2023[40] - Non-GAAP net income for 2024 was RMB10.7 billion (US$1.5 billion), down 12.5% from RMB12.2 billion in 2023[40] - Basic and diluted net earnings per ADS were RMB8.06 (US$1.10) and RMB7.58 (US$1.04) in 2024, compared to RMB11.90 and RMB11.10 in 2023[40] - Net income attributable to ordinary shareholders for the year ended December 31, 2024, was RMB 8,032,350, down from RMB 11,704,133 in 2023, reflecting a decline of 31.5%[50] Cash Flow and Expenses - Free cash flow was RMB6.1 billion (US$830.1 million) in Q4 2024, a decrease of 58.6% from RMB14.6 billion in Q4 2023[11] - Operating cash flow in Q4 2024 was RMB8.7 billion, down 49.8% from RMB17.3 billion in Q4 2023[28] - Net cash provided by operating activities was RMB15.9 billion (US$2.2 billion) in 2024, a decrease of 68.6% from RMB50.7 billion in 2023[40] - Free cash flow for 2024 was RMB8.2 billion (US$1.1 billion), representing an 81.4% decrease from RMB44.2 billion in 2023[40] Research and Development - Research and development expenses in Q4 2024 were RMB2.4 billion, a decrease of 31.0% from RMB3.5 billion in Q4 2023[23] - Research and development expenses for Q4 2024 were RMB 2,408,357, down from RMB 2,586,534 in Q3 2024, indicating a reduction of 6.9%[50] Company Growth and Infrastructure - The company had 502 retail stores in 150 cities and 1,727 supercharging stations in operation as of December 31, 2024[2] - Total employees as of December 31, 2024, numbered 32,248, reflecting the company's growth and expansion[35] - The company established its first overseas research and development center in Munich, Germany, in January 2025[18] Future Outlook - The company expects to launch next-generation autonomous driving architecture and new BEV models by 2025[19] - The company focuses on proprietary range extension systems and innovative electric vehicle technologies to enhance user value[46] - Li Auto aims to expand its product lineup to target a broader user base, including models like Li MEGA and Li L9[46] Financial Position - Cash position as of December 31, 2024, was RMB112.8 billion, providing a solid foundation for future growth[28] - Total assets increased to RMB 162,349,078 as of December 31, 2024, compared to RMB 143,467,471 a year earlier, marking a growth of 13.1%[51] - Cash and cash equivalents decreased to RMB 65,901,123 as of December 31, 2024, from RMB 91,329,030 at the end of 2023, a decline of 27.8%[51] - Total liabilities rose to RMB 91,028,696 as of December 31, 2024, compared to RMB 82,892,249 a year earlier, an increase of 9.1%[51]