Li Auto Remains A Rare EV Maker With A Profit Despite Setbacks
Li Auto Remains A Rare EV Maker With A Profit Despite Setbacks
For the quarter ended on June 30th, Li Auto reported vehicle deliveries grew 25.5% YoY. On Wednesday, a prominent EV player, Li Auto (NASDAQ:LI), issued better-than-expected the second quarter report. However, even though the price war Tesla Inc (NASDAQ:TSLA) initiated a while is eating up margins, Li Auto and BYD (OTC:BYDDY) remain the only profitable Chinese EV makers. Also, Li Auto regained its leading position in Chinese new energy SUV sales, having surpassed Tesla in July when it comes to unit sales.
上周三，一家知名的新能源汽车制造商理想汽车（NASDAQ:LI）发布了超出预期的第二季度报告。然而，尽管特斯拉（NASDAQ:TSLA）发起了一场价格战，不断侵蚀着利润空间，但理想汽车和比亚迪（OTC:BYDDY）仍然是中国唯一盈利的新能源汽车制造商。此外，理想汽车在中国新能源SUV销量中重新夺回领先地位，在7月份的销量上超过了特斯拉。
Despite thinned margins, Li Auto and BYD are still profitable.
尽管利润空间有所收窄，但理想汽车和比亚迪仍然是盈利的。
BYD, the world's largest EV maker, reported earnings of 9.1 billion yuan, which is about $1.28 billion, for its second quarter that ended in June. In other words, BYD reported its earnings almost doubled from the prior, fiscal first, quarter and rose 32.8% compared to last year's comparable quarter, while delivering a record 986,720 pure electric and plug-in hybrid cars across the globe.
全球最大的新能源汽车制造商比亚迪报告了市值为910亿元的第二财季度业绩，约合128亿元。换句话说，比亚迪报告了其净利润几乎从上一个财季翻倍，并且与去年同期相比增长了32.8％，同时交付了创纪录的986,720辆纯电动和插电混动汽车。
Li Auto's Second Quarter Highlights
理想汽车第二季度亮点
For the quarter ended on June 30th, Li Auto reported vehicle deliveries grew 25.5% YoY.
截至6月30日，理想汽车的汽车交付量同比增长25.5%。
Net income experienced a significant year-over-year decline of 52.3% as it halved to 1.10 billion yuan, which is about $154.4 million. On the other hand, sales only grew about 10% YoY to about $4.4 billion but still surpassing Wall Street's estimate of $4.31 billion. But operating expenses increased by 23.9% YoY and gross margin, slipped to 19.5%, down from 21.8% reported during last year's comparable quarter.
净利润大幅下降52.3%，降至11亿元人民币，约合1544万美元。另一方面，销售额同比增长约10%，达到约44亿元，但仍超过华尔街预估的43.1亿美元。但营业费用同比增加23.9%，毛利率从去年同期的21.8%下降至19.5%。
Solid guidance despite a persistently challenging EV environment.
尽管电动汽车市场环境持续严峻，但理想汽车仍提供稳定的指导。
For the third quarter, Li Auto guided for deliveries in the range between 45,000 and 155,000 vehicles, which would represent a YoY increase between 38.0% and 47.5% with sales coming in between $5.4 billion and $5.8 billion, representing YoY growth from 13.7% to 21.6%.
对于第三季度，理想汽车预计交付的车辆数量在45,000至155,000辆之间，这将代表38.0%至47.5%的年同比增长，销售额将在54亿元至58亿元之间，年同比增长13.7%至21.6%。
Despite intense competition from BYD, Tesla and others, Li Auto turned the setbacks into a comeback.
尽管受到比亚迪、特斯拉和其他竞争对手的激烈竞争，理想汽车将挫折转化为了一次回归。
Li Auto's second-quarter earnings call painted a picture of a company that is not only navigating the competitive electric vehicle market successfully with BYD's dominance taking a toll on smaller EV rivals, but is also making strategic moves to ensure its continued growth as well as leadership when it comes to the higher-end NEV market. Therefore, Li Auto did more than just demonstrate its resilience, standing proudly next to BYD and Tesla. Second quarter profit did slump with slower sales growth and thinned margins, but Li Auto remains among the handful of profitable EV makers.
理想汽车的第二季度业绩会描绘了一幅图景，显示该公司不仅在BYD的主导下成功应对竞争激烈的电动汽车市场，而且还在战略上确保了其持续增长以及在高端新能源汽车市场的领导地位。因此，理想汽车不仅展现了其韧性，而且与比亚迪和特斯拉自豪地并立。尽管第二季度利润因销售增长放缓和利润率降低而下滑，但理想汽车仍属于少数盈利的电动汽车制造商之一。
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