LI Releases 2023Q3 Financial Report
I. 2023Q3 Financial Data
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Total revenue of 34.68 billion yuan, increased by 271% YoY, and 21% QoQ;
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Auto business income is 33.62 billion yuan, up 271% YoY, and 20% QoQ;
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Gross profit amounted to 7.64 billion yuan, an YoY increase of 547%, and a QoQ increase of 22%;
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Overall gross margin was 22%, compared to 13% for the same period last year, and 22% for the previous quarter;
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Single car gross profit margin was 21%, up from 21% last quarter;
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Sales cost totaled up to 27.03 billion yuan, up 231% YoY, and 21% QoQ;
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Net profit is 2.81 billion yuan, compared to last quarter’s net profit of 2.31 billion yuan;
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Company’s cash reserve (cash and cash equivalents, restricted cash and current deposit and short-term investment balance) is 0 billion yuan, compared to 73.77 billion yuan last quarter;
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LI’s R&D cost in the third quarter was 2.82 billion, a QoQ increase of 16%, accounting for 8% of the total quarterly revenue;
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Sales and management expenses were 2.54 billion yuan, up 68% YoY, and increased by 10% QoQ.
II. 2023Q4 Business Forecast
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Expected vehicle deliveries range from 125,000 to 128,000 units, approximately 170% to 176% compared to 2022Q4;
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Total revenue is forecasted to be between 38.46 billion yuan and 39.38 billion yuan, approximately 118% to 123% compared to 2022Q4.
This article is a translation by AI of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.