Q4 2024 Li Auto Inc Earnings Call Transcript
Key Points
- Li Auto Inc (LI) achieved a record quarterly delivery of over 158,000 vehicles in Q4 2024, with full-year deliveries exceeding 500,000 units.
- The company reported total revenues of RMB44.3 billion in Q4 2024, contributing to a full-year total of RMB144.5 billion.
- Li Auto Inc (LI) has a strong cash position with RMB112.8 billion on hand, supporting long-term investments in electrification and AI.
- The company is expanding its supercharging network, aiming for 2,500 stations by the launch of its first battery electric SUV, Li i8.
- Li Auto Inc (LI) is advancing its overseas expansion, with a new R&D center in Munich and service centers in Kazakhstan, Dubai, and Uzbekistan.
- The vehicle margin decreased to 19.7% in Q4 2024 from 22.7% in the same period last year, due to a different product mix and interest subsidies.
- Gross margin also declined to 20.3% in Q4 2024 from 23.5% in the same period last year.
- Net income in Q4 2024 was down 38.6% year-over-year, despite a quarter-over-quarter increase.
- The company expects a year-over-year decrease in Q1 2025 total revenue, reflecting a challenging market environment.
- Li Auto Inc (LI) faces intense competition in the NEV market, with a focus on autonomous driving and AI advancements.
Hello, ladies and gentlemen. Thank you for standing by for Li Auto's fourth quarter and full year 2024 earnings conference call. (Operator Instructions) Today's conference call is being recorded.
I will now turn the call over to your host, Ms. Janet Chang, Investor Relations Director of Li Auto. Please go ahead, Janet.
Thank you. Good evening, and good morning, everyone. Welcome to Li Auto's fourth quarter and full year 2024 earnings conference call. The company's financial and operating results were published in our press release earlier today and are posted on the company's IR website.
On today's call, we will have our Chairman and CEO, Mr. Xiang Li; and our CFO, Mr. Johnny Tie Li, to begin with prepared remarks. Our President, Mr. Donghui Ma; and our Senior Vice President, Mr. James Liangjun Zou, will join for the Q&A discussion.
Before I continue, please be reminded that today's discussion will contain forward-looking statements made under the safe harbor provisions
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