Li Auto Inc. Announces Unaudited Second Quarter 2021 Financial Results

GlobeNewswire2021-08-30

BEIJING, China, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. ("Li Auto" or the "Company") (Nasdaq: LI; HKEX: 2015), an innovator in China’s new energy vehicle market, today announced its unaudited financial results for the quarter ended June 30, 2021.

Operating Highlights for the Second Quarter of 2021

  • Deliveries of Li ONEs were 17,575 vehicles in the second quarter of 2021, representing a 166.1% year-over-year increase.
  • As of June 30, 2021, the Company had 97 retail stores covering 64 cities and 167 servicing centers and Li Auto-authorized body and paint shops operating in 127 cities.

Financial Highlights for the Second Quarter of 2021

  • Vehicle sales were RMB4.90 billion (US$759.4 million) in the second quarter of 2021, representing an increase of 41.6% from RMB3.46 billion in the first quarter of 2021.
  • Vehicle margin2was 18.7% in the second quarter of 2021, compared with 16.9% in the first quarter of 2021.
  • Total revenues were RMB5.04 billion (US$780.4 million) in the second quarter of 2021, representing an increase of 40.9% from RMB3.58 billion in the first quarter of 2021.
  • Gross profit was RMB952.8 million (US$147.6 million) in the second quarter of 2021, representing an increase of 54.5% from RMB616.7 million in the first quarter of 2021.
  • Gross margin was 18.9% in the second quarter of 2021, compared with 17.3% in the first quarter of 2021.
  • Loss from operations was RMB535.9 million (US$83.0 million) in the second quarter of 2021, representing an increase of 31.4% from RMB407.7 million in the first quarter of 2021.Non-GAAP loss from operations3was RMB365.5 million (US$56.6 million) in the second quarter of 2021, representing an increase of 62.6% from RMB224.8 million in the first quarter of 2021.
  • Net loss was RMB235.5 million (US$36.5 million) in the second quarter of 2021, representing a decrease of 34.6% from RMB360.0 million net loss in the first quarter of 2021.Non-GAAP net loss3was RMB65.1 million (US$10.1 million) in the second quarter of 2021, compared with RMB177.0 million net loss in the first quarter of 2021.
  • Operating cash flow was RMB1,407.6 million (US$218.0 million) in the second quarter of 2021, representing an increase of 52.0% from RMB926.3 million in the first quarter of 2021.
  • Free cash flow4 was RMB982.1 million (US$152.1 million) in the second quarter of 2021, representing an increase of 72.2% from RMB570.2 million in the first quarter of 2021.

Li shares rose more than 3% in premarket trading.

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Comments

  • Yinasim
    2021-09-01
    Yinasim
    Looks good!  Jia you!
  • Lestersaul
    2021-08-31
    Lestersaul
    [財迷]
  • Tanyl
    2021-08-31
    Tanyl
    I strongly support Li Auto
  • FrickL
    2021-08-31
    FrickL
     Wow!… like!
  • brightsun
    2021-08-31
    brightsun
    Fly but how come slump... 
  • KYHBKO
    2021-08-31
    KYHBKO
    losses but positive from revenue, profits increase and also improved cash flow. 
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