Daily Archive: April 27, 2023

Li Auto delivered a record 52,584 vehicles in the first quarter, which is near the lower end of its guidance range of 52,000 to 55,000 vehicles.

Li Auto (NASDAQ: LI) will report its unaudited financial results for the first quarter on Wednesday, May 10, before the US market opens, it said today.

The company's management will hold an earnings call at 8 pm Beijing Time that day, or 8 am US Eastern Time on May 10.

Previously released figures show that Li Auto delivered a record 52,584 vehicles in the first quarter, up 65.80 percent year-on-year and up 13.53 percent from the fourth quarter of last year.

The deliveries were near the lower end of the 52,000 to 55,000 vehicle guidance range it had previously provided.

Li Auto's revenue guidance for the first quarter was RMB 17.45 billion to RMB 18.45 billion, implying a year-on-year increase of 82.5 percent to 93 percent.

The company launched the new Li L7, its first five-seat SUV, on February 8. Previously the company was delivering the higher-priced Li L9 and Li L8 models.

The Li L7 is the least expensive of its product array, with Pro and Max versions starting at RMB 339,800 ($49,090) and 379,800 respectively. In addition, the Li L7 has a lower-priced Air version available, starting at RMB 319,800.

Deliveries of the Li L7 Pro and Li L7 Max began on March 11, with deliveries of the Li L7Air beginning earlier this month.

Li Auto's vehicle margin was 20 percent in the fourth quarter, down from 22.3 percent in the year-ago quarter but up from 12 percent in the third quarter.

It posted a gross margin of 20.2 percent in the fourth quarter, a sharp rebound from 12.7 percent in the third quarter. Li Auto's accelerated phase-out of its first model, the Li ONE, in the third quarter of last year severely hurt margins.

For participants wishing to join Li Auto's earnings conference call, online registration needs to be completed prior to the scheduled start time of the call using the link provided below.

Once registered, participants will receive conference call access information including a dial-in number, password and unique access PIN.

To join the conference, you will need to dial the number provided and enter your password and PIN.

Attendees can register online at https://s1.c-conf.com/diamondpass/10030396-a6jw52.html

A replay of the conference call will be accessible by dialing the following number through May 17.

United States: +1-855-883-1031

Chinese mainland: +86-400-1209-216

Hong Kong, China: +852-800-930-639

International: +61-7-3107-6325

Replay PIN: 10030396

A live and archived webcast of the conference call will also be available at the company's investor relations website at http://ir.lixiang.com.

($1= RMB 6.9226)

Li Auto delivers 20,823 vehicles in Mar, up 25% from Feb

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