- Li Auto Inc LI reported second-quarter FY22 revenue growth of 73% year-on-year to RMB8.73 billion ($1.30 billion), beating the consensus of $1.12 billion.
- Non-GAAP net loss per ADS attributable to ordinary shareholders were RMB(0.17) or $(0.02), against the consensus of $(0.06).
- Deliveries of Li ONEs jumped 63.2% Y/Y to 28,687 vehicles. Deliveries fell 9.6% Q/Q.
- Vehicle margin rose 250 basis points Y/Y to 21.2%.
- Also Read: Li Auto July Deliveries Fall 20% Sequentially, EV Maker Points To Strong Orders For New Smart SUV
- The gross profit increased 97.1% Y/Y to RMB1.88 billion ($280.4 million), with the margin expanding 260 basis points to 21.5%.
- The operating loss for the quarter expanded to RMB(978.5) million or $(146.1) million versus RMB(535.9) million last year.
- The company held cash and equivalents of $8.01 billion as of June 30, 2022.
- Cash provided by operating activities fell 19.8% Y/Y to RMB1.1 billion ($168.6 million) with a free cash flow of RMB451.7 million ($67.4 million).
- As of June 30, 2022, the company had 247 retail stores covering 113 cities, as well as 308 servicing centers and Li Auto-authorized body and paint shops operating in 226 cities.
- Outlook: Li Auto sees Q3 vehicle deliveries of 27,000 - 29,000.
- The company expects Q3 revenue of RMB8.96 billion ($1.34 billion) – RMB9.56 billion ($1.43 billion), against the consensus of $2.02 billion.
- Price Action: LI shares are trading lower by 6.46% at $30.39 in premarket on the last check Monday.
- Photo Via Company
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