On August 15, Li Auto announced its financial results for the second quarter of 2022. According to the financial report, Li Auto’s revenue in the second quarter was 8.73 billion yuan, a year-on-year increase of 73.3% and a month-on-month decrease of 8.7%. The net loss was 641 million yuan, an increase of 172.2% from 235.5 million yuan in the same period last year. Non-GAAP net loss was RMB 183.4 million, an increase of 182% year-on-year.
In the second quarter, Li Auto’s gross profit margin improved to 21.5%, compared to 18.9% in the same period last year.
As of June 30, 2022, Li Auto’s cash and cash equivalents, restricted cash, term deposits and short-term investments totaled RMB 53.65 billion.
In terms of deliveries, in the second quarter, the delivery volume of the Ideal ONE was 28,687 units, a year-on-year increase of 63.2%. Revenue from vehicle sales was 8.48 billion yuan, an increase of 73.0% year-on-year (4.90 billion yuan) and a decrease of 8.9% month-on-month (9.31 billion yuan).
In July this year, the delivery volume of Ideal ONE was 10,422 units, an increase of 21.3% from July 2021.
Li Auto expects that in the third quarter of this year, the vehicle delivery volume will be 27,000-29,000, and the total revenue will be 8.96-9.56 billion.