Chinese EV Maker Li Auto Reports Profit Beat on Cost Controls [Financial Post (Toronto, Ontario, Canada)]
Li Auto Inc. - American Depositary Shares (LI)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Li Auto Inc. reported better-than-expected third-quarter results, as the company's production costs started to stabilize and efficiency measures came into effect. Founded in 2015, the automaker was the third new-energy vehicle manufacturer to achieve profitability after only Tesla Inc. and BYD Co. In the three months ended Sept. 30, Li Auto posted an adjusted net income of 3.9 billion yuan ($541 million), while analysts were expecting 3 billion yuan on average, data compiled by Bloomberg showed. Revenue jumped 24% to 42.9 billion yuan from the same period a year ago, as the company shipped 152,831 vehicles to its customers, marking a year-on-year growth of 45.4%, according to a statement filed Thursday. It also beat the analysts' forecast of 41.4 billion yuan. Gross margin in the period dropped to 21.5%. It now looks to deliver as many as 170,00
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LI
Sec Filings
- 11/13/24 - Form 144
- 11/6/24 - Form 6-K
- 11/1/24 - Form 6-K
- LI's page on the SEC website