Li Auto Shares Gain On Solid Q2 Results, Q3 Deliveries Outlook

Li Auto Inc LI reported second-quarter FY21 sales growth of 158.8% year-on-year, to RMB5.04 billion ($780.4 million).
Vehicle sales increased 155.5% Y/Y to RMB4.9 billion ($759.4 million) with a vehicle margin of 18.7%, a 500 basis points Y/Y rise.
Gross profit for the quarter jumped 266.9% Y/Y to RMB952.8 million ($147.6 million), and the profit margin expanded 560 basis points to 18.9%.
The operating loss widened to RMB(535.9) million.
The company held $5.66 billion in cash and equivalents as of June 30, 2021.
Cash generated by operating activities totaled $218.0 million with a free cash flow of $152.1 million.
Non-GAAP net loss per ADS of $(0.01) beat the analyst consensus of $(0.03).
The company delivered 8,589 Li ONEs in July, representing a 251.3% rise Y/Y.
Outlook: Li Auto sees Q3 revenue of RMB6.98 billion ($1.08 billion) - RMB7.25 billion ($1.12 billion).
The company expects Q3 vehicle deliveries of 25,000 - 26,000 vehicles.
Price Action: LI shares are trading higher by 3.27% at $30.30 in premarket on the last check Monday.
Photo by Jengtingchen via Wikimedia

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