Zhong Guo Jing Ji Wang·2025-05-30 14:16Core Viewpoint - Li Auto aims to achieve an annual revenue scale of 300 billion RMB by delivering extended-range SUVs, pure electric SUVs, and the Li MEGA, with plans to introduce more competitively priced MPVs and sedans based on market demand [1] Financial Performance - In Q1 2024, Li Auto reported a total revenue of 25.9 billion RMB, a year-on-year increase of 1.1%, with vehicle sales revenue contributing 24.7 billion RMB, up 1.8% [2][3] - The gross profit for Q1 was 5.3 billion RMB, maintaining a gross margin of 20.5%, consistent with the previous year [3] - Net profit reached 591 million RMB, reflecting a 9.4% year-on-year growth, marking the tenth consecutive quarter of profitability for the company [3] Sales and Delivery - Li Auto delivered 92,864 vehicles in Q1 2024, achieving a year-on-year growth of 15.5%, and maintained the top sales position among Chinese automotive brands priced above 200,000 RMB [2][3] - The company adjusted its sales strategy by introducing cash incentives to boost sales during the traditional automotive sales off-season [3] Future Outlook - Li Auto plans to launch new models, including the Li i8 and Li i6, with the i8 expected to debut in July 2024 and the i6 in September 2024 [8] - The company anticipates Q2 2024 delivery volumes between 123,000 and 128,000 units, representing a year-on-year growth of 13.3% to 17.9%, with projected revenue of 32.5 billion to 33.8 billion RMB [8] - Li Auto is confident in returning to a monthly sales level of 50,000 units following the release of updated models [6]