LI Announces Q2 2023 Financial Reports
I. Q2 2023 Financial Figures
-
Total revenue of RMB 28.65 billion, an increase of 228% year-on-year and 52% quarter-on-quarter;
-
Automotive business revenue of RMB 27.97 billion, up 230% year-on-year and 53% quarter-on-quarter;
-
Gross profit of RMB 6.24 billion, an increase of 232% year-on-year and 63% quarter-on-quarter;
-
Overall gross margin rate is 22%, the same as the same period last year, and higher than 20% of the previous quarter;
-
Per vehicle gross margin rate is 21%, an increase from the previous quarter (20%);
-
Sales cost of RMB 22.42 billion, an increase of 227% year-on-year and 50% quarter-on-quarter;
-
Net profit of RMB 2.31 billion, previous quarter net profit was RMB 934 million;
-
Company cash reserves (cash and cash equivalents, restricted cash, and balance of term deposits and short-term investments) was RMB 73.77 billion, the previous quarter was RMB 65 billion;
-
LI’s research and development expenses in Q2 was RMB 2.43 billion, a 31% increase quarter-on-quarter accounting for 8% of the quarter’s total revenue;
-
Sales and management expenses were RMB 2.31 billion, an increase of 74% year-on-year and 40% quarter-on-quarter.
II. Q3 2023 Business Expectations
-
Expected vehicle deliveries of 100,000 to 103,000 vehicles, an approximate growth of 277% to 288% compared to Q3 of 2022;
-
Total revenue is expected to be between RMB 32.33 billion and RMB 33.3 billion, approximately up 246% to 257% compared to Q3 of 2022.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.