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Li Auto Inc. Announces Unaudited Fourth Quarter and Full Year 2024 Financial Results
LILI AUTO(LI) GlobeNewswire·2025-03-14 08:35

Core Viewpoint - Li Auto Inc. reported strong financial results for the fourth quarter and full year of 2024, achieving record revenues and vehicle deliveries, while also facing challenges in net income and margins compared to previous periods [2][5][18]. Financial Highlights for Q4 2024 - Total revenues reached RMB44.3 billion (US6.1billion),a6.16.1 billion), a 6.1% increase year-over-year from RMB41.7 billion [6][22]. - Vehicle sales amounted to RMB42.6 billion (US5.8 billion), reflecting a 5.6% increase from RMB40.4 billion in Q4 2023 [6][22]. - Gross profit was RMB9.0 billion (US1.2billion),down8.31.2 billion), down 8.3% from RMB9.8 billion in Q4 2023 [6][22]. - Net income decreased by 38.6% to RMB3.5 billion (US484.0 million) compared to RMB5.8 billion in Q4 2023 [6][28]. - Operating expenses were reduced by 22.0% to RMB5.3 billion (US721.6million)fromRMB6.8billioninQ42023[6][27].FinancialHighlightsforFullYear2024−FullyeartotalrevenuesreachedRMB144.5billion(US721.6 million) from RMB6.8 billion in Q4 2023 [6][27]. Financial Highlights for Full Year 2024 - Full year total revenues reached RMB144.5 billion (US19.8 billion), a 16.6% increase from RMB123.9 billion in 2023 [10][12]. - Total vehicle sales for the year were RMB138.5 billion (US19.0billion),up15.219.0 billion), up 15.2% from RMB120.3 billion in 2023 [10][12]. - Net income for the year was RMB8.0 billion (US1.1 billion), down 31.9% from RMB11.8 billion in 2023 [10][12]. - Operating expenses increased by 12.7% to RMB22.6 billion (US3.1billion)fromRMB20.1billionin2023[10][12].DeliveryandOperationalHighlights−Quarterlydeliveriesreached158,696vehicles,a20.43.1 billion) from RMB20.1 billion in 2023 [10][12]. Delivery and Operational Highlights - Quarterly deliveries reached 158,696 vehicles, a 20.4% year-over-year increase [5][18]. - Full year deliveries totaled 500,508 vehicles, representing a 33.1% increase from 376,030 vehicles in 2023 [5][18]. - As of December 31, 2024, the company operated 502 retail stores in 150 cities and 1,727 supercharging stations [3][13]. Cash Flow and Financial Position - Net cash provided by operating activities was RMB8.7 billion (US1.2 billion) in Q4 2024, down 49.8% from RMB17.3 billion in Q4 2023 [9][28]. - Free cash flow was RMB6.1 billion (US830.1million)inQ42024,adecreaseof58.6830.1 million) in Q4 2024, a decrease of 58.6% from RMB14.6 billion in Q4 2023 [9][28]. - The company's cash position stood at RMB112.8 billion (US15.5 billion) as of December 31, 2024 [28]. Future Outlook - For Q1 2025, the company expects vehicle deliveries to be between 88,000 and 93,000, indicating a year-over-year increase of 9.5% to 15.7% [35].