Li Auto Q3 Adj. Profit Rises

(RTTNews) - Li Auto Inc. (LI) said it delivered strong results in the third quarter, achieving revenue growth of 209.7% year over year. The company delivered 25,116 vehicles during the third quarter, growing 190.0% year over year. The company said it will further increase production capacity through the addition of the Beijing manufacturing base.

"To mitigate on-going supply chain risks, we will continue to find solutions together with our supply chain partners," said Xiang Li, CEO.

Third quarter non-GAAP net income was RMB 335.7 million, compared to RMB 16.0 million, a year ago. Non-GAAP earnings per ADS was RMB 0.34.

Net loss was RMB 21.5 million, a decrease of 79.9% from a loss of RMB 106.9 million, a year ago. Loss per ADS was RMB 0.02. Total revenues were RMB 7.78 billion, an increase of 209.7% from RMB 2.51 billion, last year.

For the fourth quarter, the company expects: deliveries to be between 30,000 and 32,000 vehicles, and total revenues to be between RMB 8.82 billion and RMB 9.41 billion.