Ge Long Hui·2025-05-31 01:57Group 1 - The core viewpoint of the articles indicates that Li Auto's Q1 revenue and profit largely met expectations, with a revenue increase of 1.1% quarter-on-quarter but a decrease of 41.4% year-on-year, and a gross margin of 19.8%, which is better than market expectations and above the company's previous guidance of over 19% [1] - The average selling price per vehicle decreased by 1.1% quarter-on-quarter, which is slightly better than expectations, primarily due to a rebound in high-priced models during Q1 [1] - R&D and selling, general, and administrative (SG&A) expenses were kept restrained, with R&D expenses down 17.5% quarter-on-quarter and up 4.4% year-on-year, while SG&A expenses decreased by 15.0% quarter-on-quarter and 17.7% year-on-year, mainly due to no new vehicle launches [1] Group 2 - Li Auto's guidance for Q2 revenue is expected to be between 32.5 billion and 33.8 billion yuan, representing a quarter-on-quarter increase of 25.5% to 30.5%, with vehicle sales projected to be between 123,000 and 128,000 units, a quarter-on-quarter increase of 32.4% to 37.8% [1] - The company plans to launch new models, the i8 in July and the i6 in September, with the i8 focusing on large space, low energy consumption, and fast recharging [2] - Li Auto aims to achieve a 30% market share in overseas markets after providing complete services and plans to recruit mature dealers and overseas market teams [2]