LI Auto's Impressive Q2 2023 Financial Report Released

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