Li Auto Q1 Net Income Declines; Total Revenues Up 36.4%

(RTTNews) - Li Auto Inc. (LI) reported first quarter net income of RMB 591.1 million, a decrease of 36.7% from a year ago. Net earnings per ADS was RMB 0.56 compared to RMB 0.89. Non-GAAP net earnings per ADS was RMB 1.21 compared to RMB 1.35.

Total revenues were RMB 25.6 billion, an increase of 36.4% from a year ago. Total deliveries were 80,400 vehicles, a 52.9% year-over-year increase.

For the second quarter of 2024, the company expects: deliveries of vehicles to be between 105,000 and 110,000 vehicles, and total revenues to be between RMB 29.9 billion and RMB 31.4 billion.

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