Excellent Q4 results by Li Aut

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Excellent Q4 results by Li Auto. Hope this sets up good momentum for the EV stocks. 🚀

Li Auto Q4 Revenues Reach RMB41.73 Billion, Deliveries Reach 131,805 Vehicles

Quarterly total revenues reached RMB41.73 billion Quarterly deliveries reached 131,805 vehiclesFull year total revenues reached RMB123.85 billion Full year deliveries were 376,030 vehiclesLi Auto Inc. today announced its unaudited financial results for the quarter and full year ended December 31, 2023.Operating Highlights for the Fourth Quarter of 2023 and Full Year 2023Total deliveries for the fourth quarter of 2023 were 131,805 vehicles, representing a 184.6% year-over-year increase.Total deli

Li Auto Q4 Revenues Reach RMB41.73 Billion, Deliveries Reach 131,805 Vehicles

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What's in focus?","image":"https://community-static.tradeup.com/news/dc18b55f50cc4b6c035031de21e3d6d2"}],"images":[],"coverImages":[],"html":"<html><head></head><body>Excellent Q4 results by Li Auto. &nbsp;Hope this sets up good momentum for the EV stocks. 🚀</body></html>","htmlText":"<html><head></head><body>Excellent Q4 results by Li Auto. &nbsp;Hope this sets up good momentum for the EV stocks. 🚀</body></html>","text":"Excellent Q4 results by Li Auto. Hope this sets up good momentum for the EV stocks. 🚀","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/278241989554456","repostId":1199240156,"repostType":2,"repost":{"id":"1199240156","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1708938056,"share":"https://www.laohu8.com/m/news/1199240156?lang=&edition=full","pubTime":"2024-02-26 17:00","market":"us","language":"en","title":"Li Auto Q4 Revenues Reach RMB41.73 Billion, Deliveries Reach 131,805 Vehicles","url":"https://stock-news.laohu8.com/highlight/detail?id=1199240156","media":"Tiger Newspress","summary":"Quarterly total revenues reached RMB41.73 billion Quarterly deliveries reached 131,805 vehiclesFull year total revenues reached RMB123.85 billion Full year deliveries were 376,030 vehiclesLi Auto Inc. today announced its unaudited financial results for the quarter and full year ended December 31, 2023.Operating Highlights for the Fourth Quarter of 2023 and Full Year 2023Total deliveries for the fourth quarter of 2023 were 131,805 vehicles, representing a 184.6% year-over-year increase.Total deli","content":"<html><head></head><body><ul style=\"\"><li>Quarterly total revenues reached RMB41.73 billion (US$5.88 billion)</li><li>Quarterly deliveries reached 131,805 vehicles</li><li>Full year total revenues reached RMB123.85 billion (US$17.44 billion)</li><li>Full year deliveries were 376,030 vehicles</li></ul>Li Auto Inc. today announced its unaudited financial results for the quarter and full year ended December 31, 2023.Li Auto shares jumped 7.2% in premarket trading Monday.<img src=\"https://static.tigerbbs.com/0a71a0436629944af18052660d989bb8\" tg-width=\"843\" tg-height=\"617\"/>Operating Highlights for the Fourth Quarter of 2023 and Full Year 2023<ul style=\"\"><li>Total deliveries for the fourth quarter of 2023 were 131,805 vehicles, representing a 184.6% year-over-year increase.</li><li>Total deliveries for the full year 2023 reached 376,030 vehicles, representing an increase of 182.2% from 133,246 vehicles in 2022.</li></ul><img src=\"https://static.tigerbbs.com/b917991b660e650e4f2b1ad9afb4fad4\" title=\"\" tg-width=\"1567\" tg-height=\"322\"/>Financial Highlights for the Fourth Quarter of 2023<ul style=\"\"><li>Vehicle sales were RMB40.38 billion (US$5.69 billion) in the fourth quarter of 2023, representing an increase of 133.8% from RMB17.27 billion in the fourth quarter of 2022 and an increase of 20.1% from RMB33.62 billion in the third quarter of 2023.</li><li>Vehicle margin was 22.7% in the fourth quarter of 2023, compared with 20.0% in the fourth quarter of 2022 and 21.2% in the third quarter of 2023.</li><li>Total revenues were RMB41.73 billion (US$5.88 billion) in the fourth quarter of 2023, representing an increase of 136.4% from RMB17.65 billion in the fourth quarter of 2022 and an increase of 20.3% from RMB34.68 billion in the third quarter of 2023.</li><li>Gross profit was RMB9.79 billion (US$1.38 billion) in the fourth quarter of 2023, representing an increase of 174.4% from RMB3.57 billion in the fourth quarter of 2022 and an increase of 28.0% from RMB7.64 billion in the third quarter of 2023.</li><li>Gross margin was 23.5% in the fourth quarter of 2023, compared with 20.2% in the fourth quarter of 2022 and 22.0% in the third quarter of 2023. </li><li>Operating expenses were RMB6.75 billion (US$950.8 million) in the fourth quarter of 2023, representing an increase of 82.4% from RMB3.70 billion in the fourth quarter of 2022 and an increase of 27.2% from RMB5.31 billion in the third quarter of 2023.</li><li>Income from operations was RMB3.04 billion (US$427.7 million) in the fourth quarter of 2023, compared with RMB133.6 million loss from operations in the fourth quarter of 2022 and representing an increase of 29.8% from RMB2.34 billion income from operations in the third quarter of 2023.</li><li>Operating margin was 7.3% in the fourth quarter of 2023, compared with negative 0.8% in the fourth quarter of 2022 and 6.7% in the third quarter of 2023.</li><li>Net income was RMB5.75 billion (US$810.2 million) in the fourth quarter of 2023, representing an increase of 2,068.2% from RMB265.3 million in the fourth quarter of 2022 and an increase of 104.5% from RMB2.81 billion in the third quarter of 2023. Non-GAAP net income was RMB4.59 billion (US$646.3 million) in the fourth quarter of 2023, representing an increase of 374.2% from RMB967.6 million in the fourth quarter of 2022 and an increase of 32.3% from RMB3.47 billion in the third quarter of 2023.</li><li>Diluted net earnings per ADS4 attributable to ordinary shareholders was RMB5.32 (US$0.75) in the fourth quarter of 2023, compared with RMB0.25 in the fourth quarter of 2022 and RMB2.67 in the third quarter of 2023. Non-GAAP diluted net earnings per ADS attributable to ordinary shareholders was RMB4.23 (US$0.60) in the fourth quarter of 2023, compared with RMB0.93 in the fourth quarter of 2022 and RMB3.29 in the third quarter of 2023.</li><li>Net cash provided by operating activities was RMB17.29 billion (US$2.44 billion) in the fourth quarter of 2023, representing an increase of 251.1% from RMB4.93 billion in the fourth quarter of 2022 and an increase of 19.2% from RMB14.51 billion in the third quarter of 2023.</li><li>Free cash flow was RMB14.64 billion (US$2.06 billion) in the fourth quarter of 2023, representing an increase of 349.4% from RMB3.26 billion in the fourth quarter of 2022 and an increase of 10.7% from RMB13.22 billion in the third quarter of 2023.</li></ul>Financial Highlights for the Full Year 2023<ul style=\"\"><li>Vehicle sales were RMB120.29 billion (US$16.94 billion) in 2023, representing an increase of 172.7% from RMB44.11 billion in 2022.</li><li>Vehicle margin was 21.5% in 2023, compared with 19.1% in 2022.</li><li>Total revenues were RMB123.85 billion (US$17.44 billion) in 2023, representing an increase of 173.5% from RMB45.29 billion in 2022.</li><li>Gross profit was RMB27.50 billion (US$3.87 billion) in 2023, representing an increase of 212.8% from RMB8.79 billion in 2022.</li><li>Gross margin was 22.2% in 2023, compared with 19.4% in 2022.</li><li>Operating expenses were RMB20.09 billion (US$2.83 billion) in 2023, representing an increase of 61.4% from RMB12.45 billion in 2022.</li><li>Income from operations was RMB7.41 billion (US$1.04 billion) in 2023, compared with RMB3.65 billion loss from operations in 2022.</li><li>Operating margin was 6.0% in 2023, compared with negative 8.1% in 2022.</li><li>Net income was RMB11.81 billion (US$1.66 billion) in 2023, compared with RMB2.03 billion net loss in 2022. Non-GAAP net income was RMB12.20 billion (US$1.72 billion) in 2023, representing an increase of 58,494.3% from RMB20.8 million in 2022.</li><li>Diluted net earnings per ADS attributable to ordinary shareholders was RMB11.10 (US$1.56) in 2023, compared with RMB2.07 diluted net loss per ADS attributable to ordinary shareholders in 2022. Non-GAAP diluted net earnings per ADS attributable to ordinary shareholders was RMB11.46 (US$1.61) in 2023, compared with RMB0.04 in 2022.</li><li>Net cash provided by operating activities was RMB50.69 billion (US$7.14 billion) in 2023, representing an increase of 586.9% from RMB7.38 billion in 2022.</li><li>Free cash flow was RMB44.19 billion (US$6.22 billion) in 2023, representing an increase of 1,861.8% from RMB2.25 billion in 2022.</li></ul>Recent DevelopmentsDelivery Update<ul style=\"\"><li>In January 2024, the Company delivered 31,165 vehicles, representing an increase of 105.8% from January 2023. As of January 31, 2024, the Company had 474 retail stores covering 142 cities, in addition to 360 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.</li></ul>OTA 5.0 Upgrade<ul style=\"\"><li>In December 2023, the Company released the OTA version 5.0 upgrade for the Li L series, providing a comprehensive upgrade for autonomous driving and smart space. With this upgrade, the Company’s Li AD Max 3.0 provides full scenario autonomous driving (Navigation on ADAS) and assisted driving (lane centering control) functions, as well as the industry’s leading AEB active safety system and automated parking system. Additionally, Li Xiang Tong Xue, the upgraded smart in-car voice assistant built upon Mind GPT, the Company’s self-developed multimodal large language model, has significantly improved in understanding, generating, knowledge memorizing, and reasoning capabilities, further enhancing the interactive experience in the smart space.</li></ul>Inclusion in the Hang Seng Index<ul style=\"\"><li>The Company has been included as a constituent stock in the Hang Seng Index, effective from December 4, 2023. This inclusion reflects the recognition of the Company’s business performance and investment value by investors.</li></ul>Business OutlookFor the first quarter of 2024, the Company expects:<ul style=\"\"><li>Deliveries of vehicles to be between 100,000 and 103,000 vehicles, representing an increase of 90.2% to 95.9% from the first quarter of 2023.</li><li>Total revenues to be between RMB31.25 billion (US$4.40 billion) and RMB32.19 billion (US$4.53 billion), representing an increase of 66.3% to 71.3% from the first quarter of 2023.</li></ul></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Li Auto Q4 Revenues Reach RMB41.73 Billion, Deliveries Reach 131,805 Vehicles</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLi Auto Q4 Revenues Reach RMB41.73 Billion, Deliveries Reach 131,805 Vehicles\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nTiger Newspress \n2024-02-26 17:00\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul style=\"\"><li>Quarterly total revenues reached RMB41.73 billion (US$5.88 billion)</li><li>Quarterly deliveries reached 131,805 vehicles</li><li>Full year total revenues reached RMB123.85 billion (US$17.44 billion)</li><li>Full year deliveries were 376,030 vehicles</li></ul>Li Auto Inc. today announced its unaudited financial results for the quarter and full year ended December 31, 2023.Li Auto shares jumped 7.2% in premarket trading Monday.<img src=\"https://static.tigerbbs.com/0a71a0436629944af18052660d989bb8\" tg-width=\"843\" tg-height=\"617\"/>Operating Highlights for the Fourth Quarter of 2023 and Full Year 2023<ul style=\"\"><li>Total deliveries for the fourth quarter of 2023 were 131,805 vehicles, representing a 184.6% year-over-year increase.</li><li>Total deliveries for the full year 2023 reached 376,030 vehicles, representing an increase of 182.2% from 133,246 vehicles in 2022.</li></ul><img src=\"https://static.tigerbbs.com/b917991b660e650e4f2b1ad9afb4fad4\" title=\"\" tg-width=\"1567\" tg-height=\"322\"/>Financial Highlights for the Fourth Quarter of 2023<ul style=\"\"><li>Vehicle sales were RMB40.38 billion (US$5.69 billion) in the fourth quarter of 2023, representing an increase of 133.8% from RMB17.27 billion in the fourth quarter of 2022 and an increase of 20.1% from RMB33.62 billion in the third quarter of 2023.</li><li>Vehicle margin was 22.7% in the fourth quarter of 2023, compared with 20.0% in the fourth quarter of 2022 and 21.2% in the third quarter of 2023.</li><li>Total revenues were RMB41.73 billion (US$5.88 billion) in the fourth quarter of 2023, representing an increase of 136.4% from RMB17.65 billion in the fourth quarter of 2022 and an increase of 20.3% from RMB34.68 billion in the third quarter of 2023.</li><li>Gross profit was RMB9.79 billion (US$1.38 billion) in the fourth quarter of 2023, representing an increase of 174.4% from RMB3.57 billion in the fourth quarter of 2022 and an increase of 28.0% from RMB7.64 billion in the third quarter of 2023.</li><li>Gross margin was 23.5% in the fourth quarter of 2023, compared with 20.2% in the fourth quarter of 2022 and 22.0% in the third quarter of 2023. </li><li>Operating expenses were RMB6.75 billion (US$950.8 million) in the fourth quarter of 2023, representing an increase of 82.4% from RMB3.70 billion in the fourth quarter of 2022 and an increase of 27.2% from RMB5.31 billion in the third quarter of 2023.</li><li>Income from operations was RMB3.04 billion (US$427.7 million) in the fourth quarter of 2023, compared with RMB133.6 million loss from operations in the fourth quarter of 2022 and representing an increase of 29.8% from RMB2.34 billion income from operations in the third quarter of 2023.</li><li>Operating margin was 7.3% in the fourth quarter of 2023, compared with negative 0.8% in the fourth quarter of 2022 and 6.7% in the third quarter of 2023.</li><li>Net income was RMB5.75 billion (US$810.2 million) in the fourth quarter of 2023, representing an increase of 2,068.2% from RMB265.3 million in the fourth quarter of 2022 and an increase of 104.5% from RMB2.81 billion in the third quarter of 2023. Non-GAAP net income was RMB4.59 billion (US$646.3 million) in the fourth quarter of 2023, representing an increase of 374.2% from RMB967.6 million in the fourth quarter of 2022 and an increase of 32.3% from RMB3.47 billion in the third quarter of 2023.</li><li>Diluted net earnings per ADS4 attributable to ordinary shareholders was RMB5.32 (US$0.75) in the fourth quarter of 2023, compared with RMB0.25 in the fourth quarter of 2022 and RMB2.67 in the third quarter of 2023. Non-GAAP diluted net earnings per ADS attributable to ordinary shareholders was RMB4.23 (US$0.60) in the fourth quarter of 2023, compared with RMB0.93 in the fourth quarter of 2022 and RMB3.29 in the third quarter of 2023.</li><li>Net cash provided by operating activities was RMB17.29 billion (US$2.44 billion) in the fourth quarter of 2023, representing an increase of 251.1% from RMB4.93 billion in the fourth quarter of 2022 and an increase of 19.2% from RMB14.51 billion in the third quarter of 2023.</li><li>Free cash flow was RMB14.64 billion (US$2.06 billion) in the fourth quarter of 2023, representing an increase of 349.4% from RMB3.26 billion in the fourth quarter of 2022 and an increase of 10.7% from RMB13.22 billion in the third quarter of 2023.</li></ul>Financial Highlights for the Full Year 2023<ul style=\"\"><li>Vehicle sales were RMB120.29 billion (US$16.94 billion) in 2023, representing an increase of 172.7% from RMB44.11 billion in 2022.</li><li>Vehicle margin was 21.5% in 2023, compared with 19.1% in 2022.</li><li>Total revenues were RMB123.85 billion (US$17.44 billion) in 2023, representing an increase of 173.5% from RMB45.29 billion in 2022.</li><li>Gross profit was RMB27.50 billion (US$3.87 billion) in 2023, representing an increase of 212.8% from RMB8.79 billion in 2022.</li><li>Gross margin was 22.2% in 2023, compared with 19.4% in 2022.</li><li>Operating expenses were RMB20.09 billion (US$2.83 billion) in 2023, representing an increase of 61.4% from RMB12.45 billion in 2022.</li><li>Income from operations was RMB7.41 billion (US$1.04 billion) in 2023, compared with RMB3.65 billion loss from operations in 2022.</li><li>Operating margin was 6.0% in 2023, compared with negative 8.1% in 2022.</li><li>Net income was RMB11.81 billion (US$1.66 billion) in 2023, compared with RMB2.03 billion net loss in 2022. Non-GAAP net income was RMB12.20 billion (US$1.72 billion) in 2023, representing an increase of 58,494.3% from RMB20.8 million in 2022.</li><li>Diluted net earnings per ADS attributable to ordinary shareholders was RMB11.10 (US$1.56) in 2023, compared with RMB2.07 diluted net loss per ADS attributable to ordinary shareholders in 2022. Non-GAAP diluted net earnings per ADS attributable to ordinary shareholders was RMB11.46 (US$1.61) in 2023, compared with RMB0.04 in 2022.</li><li>Net cash provided by operating activities was RMB50.69 billion (US$7.14 billion) in 2023, representing an increase of 586.9% from RMB7.38 billion in 2022.</li><li>Free cash flow was RMB44.19 billion (US$6.22 billion) in 2023, representing an increase of 1,861.8% from RMB2.25 billion in 2022.</li></ul>Recent DevelopmentsDelivery Update<ul style=\"\"><li>In January 2024, the Company delivered 31,165 vehicles, representing an increase of 105.8% from January 2023. As of January 31, 2024, the Company had 474 retail stores covering 142 cities, in addition to 360 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.</li></ul>OTA 5.0 Upgrade<ul style=\"\"><li>In December 2023, the Company released the OTA version 5.0 upgrade for the Li L series, providing a comprehensive upgrade for autonomous driving and smart space. With this upgrade, the Company’s Li AD Max 3.0 provides full scenario autonomous driving (Navigation on ADAS) and assisted driving (lane centering control) functions, as well as the industry’s leading AEB active safety system and automated parking system. Additionally, Li Xiang Tong Xue, the upgraded smart in-car voice assistant built upon Mind GPT, the Company’s self-developed multimodal large language model, has significantly improved in understanding, generating, knowledge memorizing, and reasoning capabilities, further enhancing the interactive experience in the smart space.</li></ul>Inclusion in the Hang Seng Index<ul style=\"\"><li>The Company has been included as a constituent stock in the Hang Seng Index, effective from December 4, 2023. This inclusion reflects the recognition of the Company’s business performance and investment value by investors.</li></ul>Business OutlookFor the first quarter of 2024, the Company expects:<ul style=\"\"><li>Deliveries of vehicles to be between 100,000 and 103,000 vehicles, representing an increase of 90.2% to 95.9% from the first quarter of 2023.</li><li>Total revenues to be between RMB31.25 billion (US$4.40 billion) and RMB32.19 billion (US$4.53 billion), representing an increase of 66.3% to 71.3% from the first quarter of 2023.</li></ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","02015":"理想汽车-W"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199240156","content_text":"Quarterly total revenues reached RMB41.73 billion (US$5.88 billion)Quarterly deliveries reached 131,805 vehiclesFull year total revenues reached RMB123.85 billion (US$17.44 billion)Full year deliveries were 376,030 vehiclesLi Auto Inc. today announced its unaudited financial results for the quarter and full year ended December 31, 2023.Li Auto shares jumped 7.2% in premarket trading Monday.Operating Highlights for the Fourth Quarter of 2023 and Full Year 2023Total deliveries for the fourth quarter of 2023 were 131,805 vehicles, representing a 184.6% year-over-year increase.Total deliveries for the full year 2023 reached 376,030 vehicles, representing an increase of 182.2% from 133,246 vehicles in 2022.Financial Highlights for the Fourth Quarter of 2023Vehicle sales were RMB40.38 billion (US$5.69 billion) in the fourth quarter of 2023, representing an increase of 133.8% from RMB17.27 billion in the fourth quarter of 2022 and an increase of 20.1% from RMB33.62 billion in the third quarter of 2023.Vehicle margin was 22.7% in the fourth quarter of 2023, compared with 20.0% in the fourth quarter of 2022 and 21.2% in the third quarter of 2023.Total revenues were RMB41.73 billion (US$5.88 billion) in the fourth quarter of 2023, representing an increase of 136.4% from RMB17.65 billion in the fourth quarter of 2022 and an increase of 20.3% from RMB34.68 billion in the third quarter of 2023.Gross profit was RMB9.79 billion (US$1.38 billion) in the fourth quarter of 2023, representing an increase of 174.4% from RMB3.57 billion in the fourth quarter of 2022 and an increase of 28.0% from RMB7.64 billion in the third quarter of 2023.Gross margin was 23.5% in the fourth quarter of 2023, compared with 20.2% in the fourth quarter of 2022 and 22.0% in the third quarter of 2023. Operating expenses were RMB6.75 billion (US$950.8 million) in the fourth quarter of 2023, representing an increase of 82.4% from RMB3.70 billion in the fourth quarter of 2022 and an increase of 27.2% from RMB5.31 billion in the third quarter of 2023.Income from operations was RMB3.04 billion (US$427.7 million) in the fourth quarter of 2023, compared with RMB133.6 million loss from operations in the fourth quarter of 2022 and representing an increase of 29.8% from RMB2.34 billion income from operations in the third quarter of 2023.Operating margin was 7.3% in the fourth quarter of 2023, compared with negative 0.8% in the fourth quarter of 2022 and 6.7% in the third quarter of 2023.Net income was RMB5.75 billion (US$810.2 million) in the fourth quarter of 2023, representing an increase of 2,068.2% from RMB265.3 million in the fourth quarter of 2022 and an increase of 104.5% from RMB2.81 billion in the third quarter of 2023. Non-GAAP net income was RMB4.59 billion (US$646.3 million) in the fourth quarter of 2023, representing an increase of 374.2% from RMB967.6 million in the fourth quarter of 2022 and an increase of 32.3% from RMB3.47 billion in the third quarter of 2023.Diluted net earnings per ADS4 attributable to ordinary shareholders was RMB5.32 (US$0.75) in the fourth quarter of 2023, compared with RMB0.25 in the fourth quarter of 2022 and RMB2.67 in the third quarter of 2023. Non-GAAP diluted net earnings per ADS attributable to ordinary shareholders was RMB4.23 (US$0.60) in the fourth quarter of 2023, compared with RMB0.93 in the fourth quarter of 2022 and RMB3.29 in the third quarter of 2023.Net cash provided by operating activities was RMB17.29 billion (US$2.44 billion) in the fourth quarter of 2023, representing an increase of 251.1% from RMB4.93 billion in the fourth quarter of 2022 and an increase of 19.2% from RMB14.51 billion in the third quarter of 2023.Free cash flow was RMB14.64 billion (US$2.06 billion) in the fourth quarter of 2023, representing an increase of 349.4% from RMB3.26 billion in the fourth quarter of 2022 and an increase of 10.7% from RMB13.22 billion in the third quarter of 2023.Financial Highlights for the Full Year 2023Vehicle sales were RMB120.29 billion (US$16.94 billion) in 2023, representing an increase of 172.7% from RMB44.11 billion in 2022.Vehicle margin was 21.5% in 2023, compared with 19.1% in 2022.Total revenues were RMB123.85 billion (US$17.44 billion) in 2023, representing an increase of 173.5% from RMB45.29 billion in 2022.Gross profit was RMB27.50 billion (US$3.87 billion) in 2023, representing an increase of 212.8% from RMB8.79 billion in 2022.Gross margin was 22.2% in 2023, compared with 19.4% in 2022.Operating expenses were RMB20.09 billion (US$2.83 billion) in 2023, representing an increase of 61.4% from RMB12.45 billion in 2022.Income from operations was RMB7.41 billion (US$1.04 billion) in 2023, compared with RMB3.65 billion loss from operations in 2022.Operating margin was 6.0% in 2023, compared with negative 8.1% in 2022.Net income was RMB11.81 billion (US$1.66 billion) in 2023, compared with RMB2.03 billion net loss in 2022. Non-GAAP net income was RMB12.20 billion (US$1.72 billion) in 2023, representing an increase of 58,494.3% from RMB20.8 million in 2022.Diluted net earnings per ADS attributable to ordinary shareholders was RMB11.10 (US$1.56) in 2023, compared with RMB2.07 diluted net loss per ADS attributable to ordinary shareholders in 2022. Non-GAAP diluted net earnings per ADS attributable to ordinary shareholders was RMB11.46 (US$1.61) in 2023, compared with RMB0.04 in 2022.Net cash provided by operating activities was RMB50.69 billion (US$7.14 billion) in 2023, representing an increase of 586.9% from RMB7.38 billion in 2022.Free cash flow was RMB44.19 billion (US$6.22 billion) in 2023, representing an increase of 1,861.8% from RMB2.25 billion in 2022.Recent DevelopmentsDelivery UpdateIn January 2024, the Company delivered 31,165 vehicles, representing an increase of 105.8% from January 2023. As of January 31, 2024, the Company had 474 retail stores covering 142 cities, in addition to 360 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.OTA 5.0 UpgradeIn December 2023, the Company released the OTA version 5.0 upgrade for the Li L series, providing a comprehensive upgrade for autonomous driving and smart space. With this upgrade, the Company’s Li AD Max 3.0 provides full scenario autonomous driving (Navigation on ADAS) and assisted driving (lane centering control) functions, as well as the industry’s leading AEB active safety system and automated parking system. Additionally, Li Xiang Tong Xue, the upgraded smart in-car voice assistant built upon Mind GPT, the Company’s self-developed multimodal large language model, has significantly improved in understanding, generating, knowledge memorizing, and reasoning capabilities, further enhancing the interactive experience in the smart space.Inclusion in the Hang Seng IndexThe Company has been included as a constituent stock in the Hang Seng Index, effective from December 4, 2023. This inclusion reflects the recognition of the Company’s business performance and investment value by investors.Business OutlookFor the first quarter of 2024, the Company expects:Deliveries of vehicles to be between 100,000 and 103,000 vehicles, representing an increase of 90.2% to 95.9% from the first quarter of 2023.Total revenues to be between RMB31.25 billion (US$4.40 billion) and RMB32.19 billion (US$4.53 billion), representing an increase of 66.3% to 71.3% from the first quarter of 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":244,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":70,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}