Summary by Moomoo AI
Li Auto Inc., a leader in China's new energy vehicle market, reported unaudited financial results for the third quarter of 2024, ending September 30. The company achieved a 45.4% year-over-year increase in vehicle deliveries, reaching 152,831 vehicles. Total revenues for the quarter were RMB42.9 billion (US$6.1 billion), marking a 23.6% increase from the same period in 2023. Vehicle sales contributed RMB41.3 billion (US$5.9 billion) to the total revenue, a 22.9% increase year-over-year. The vehicle margin was reported at 20.9%, slightly down from 21.2% in the third quarter of 2023. Gross profit rose to RMB9.2 billion (US$1.3 billion), and the gross margin was 21.5%. Operating expenses increased by 9.2% to RMB5.8 billion (US$825.4 million), while income from operations surged by 46.7% to RMB3.4 billion (US$489.2 million). Net income saw a marginal increase to RMB2.8 billion...Show More
