# Li Auto Reports Q1 2025 Results with Mixed Performance

## Deliveries Overview

Li Auto’s delivery figures for recent quarters show significant variation:

Deliveries	2024 Q1	2023 Q4	2023 Q3	2023 Q2
Total Deliveries	80,400	131,805	105,108	86,533

## Retail Network Expansion

As of March 31, 2025, Li Auto operates in China with the following infrastructure:
– **500 retail stores** in **150 cities**
– **502 service centers**, along with authorized body and paint shops, in **225 cities**
– **2,045 supercharging stations** equipped with **11,038 charging stalls**

## Financial Highlights for Q1 2025

1. **Vehicle Sales**:
– Li Auto reported vehicle sales of **RMB 24.7 billion (US$3.4 billion)** for Q1 2025. This marks a **1.8% increase** from **RMB 24.3 billion** in Q1 2024, but represents a **42.1% decline** from **RMB 42.6 billion** in Q4 2024.

2. **Vehicle Margin**:
– The vehicle margin stood at **19.8%** in Q1 2025, a slight increase from **19.3%** in Q1 2024 and **19.7%** in Q4 2024.

These figures highlight both challenges and improvements for Li Auto as it navigates the evolving electric vehicle market.

Company Reports Q1 2025 Financial Results: Revenues and Income Decline

• Total Revenues were RMB25.9 billion (US$3.6 billion) in Q1 2025, a 1.1% increase from RMB25.6 billion in Q1 2024, but a 41.4% decrease from RMB44.3 billion in Q4 2024.

• Gross Profit stood at RMB5.3 billion (US$732.9 million) in Q1 2025, up 0.6% from RMB5.3 billion in Q1 2024 and down 40.7% from RMB9.0 billion in Q4 2024.

• Gross Margin was 20.5% in Q1 2025, slightly down from 20.6% in Q1 2024 and up from 20.3% in Q4 2024.

• Operating Expenses totaled RMB5.0 billion (US$695.5 million) in Q1 2025, a decrease of 14.0% from RMB5.9 billion in Q1 2024 and 4.2% down from RMB5.3 billion in Q4 2024.

• Income from Operations was RMB271.7 million (US$37.4 million) in Q1 2025, reversing a loss of RMB584.9 million in Q1 2024, but down 92.7% from RMB3.7 billion in Q4 2024.

• Operating Margin was 1.0% in Q1 2025, improving from negative 2.3% in Q1 2024 but down from 8.4% in Q4 2024.

• Net Income was RMB646.6 million (US$89.1 million) in Q1 2025, up 9.4% from RMB591.1 million in Q1 2024 but down 81.7% from RMB3.5 billion in Q4 2024. Non-GAAP Net Income was RMB1.0 billion (US$139.8 million), a decline of 20.5% from RMB1.3 billion in Q1 2024 and a decrease of 74.9% from RMB4.0 billion in Q4 2024.

• Diluted Net Earnings per ADS attributable to ordinary shareholders were RMB0.62 (US$0.08) in Q1 2025, compared to RMB0.56 in Q1 2024 and RMB3.31 in Q4 2024. Non-GAAP Diluted Net Earnings per ADS were RMB0.96 (US$0.13) in Q1 2025, down from RMB1.21 in Q1 2024 and RMB3.79 in Q4 2024.

• Net Cash Used in Operating Activities was RMB1.7 billion (US$234.4 million) in Q1 2025, a 49.1% reduction from RMB3.3 billion in Q1 2024, contrasting with RMB8.7 billion in cash provided in Q4 2024.

• Free Cash Flow was negative RMB2.5 billion (US$348.7 million) in Q1 2025, a 49.9% improvement from negative RMB5.1 billion in Q1 2024 and compared to RMB6.1 billion in Q4 2024.

Key Financial Results (in millions, except for percentages and per ADS data)
	For the Three Months Ended						% Change6
	March 31, 2024		December 31, 2024		March 31, 2025		YoY		QoQ

Vehicle Sales and Financial Results Summary

RMB
Vehicle sales	24,251.6	42,643.0	24,678.6	1.8%	(42.1)%
Vehicle margin	19.3%	19.7%	19.8%	0.5pts	0.1pts
Total revenues	25,633.7	44,273.7	25,926.8	1.1%	(41.4)%
Gross profit	5,284.3	8,970.2	5,318.5	0.6%	(40.7)%
Gross margin	20.6%	20.3%	20.5%	(0.1)pts	0.2pts

# Financial Overview: Key Operating Metrics and Income Summary

## Operating Expenses Show Significant Variations

Operating expenses totaled $(5,869.2) for the latest reporting period. This figure marks a decrease from $(5,266.9) and $(5,046.8) in previous periods. Year-over-year, the decline stands at 14.0%, while the decline compared to the previous quarter is 4.2%.

## Income from Operations Reflects Losses

The income from operations recorded a loss of $(584.9), following a substantial income of $3,703.3 in the earlier period. The current figure shows a significant drop, resulting in a negative change of 92.7%.

## Operating Margin Declines

The operating margin is currently at (2.3)%, down from 8.4% previously. There has been a minor improvement, with an increase of 1.0% from the last quarter, but overall, it reflects a decrease of 7.4 percentage points year over year.

## Net Income Reports a Decrease

Net income has been reported at $591.1, a sharp fall from $3,532.7 in the same quarter last year. The current net income reflects a decline of 81.7% in comparison to the previous reporting period.

## Non-GAAP Net Income Reflects Similar Trends

Non-GAAP net income is reported at $1,276.4, significantly lower than $4,039.7 from the prior period. This signifies a decrease of 20.5% year over year, and a substantial decline of 74.9% compared to the last quarter.

—

This summary highlights key shifts in operating expenses, income, and margins, emphasizing trends in financial performance over time.“`html

Li Auto Reports Earnings and Delivers Strong Vehicle Growth

Diluted Net Earnings

Diluted net earnings per ADS attributable to ordinary shareholders	0.56		3.31		0.62		10.7%		(81.3)%
Non-GAAP diluted net earnings per ADS attributable to ordinary shareholders	1.21		3.79		0.96		(20.7)%		(74.7)%
Net cash (used in)/provided by operating activities	(3,342.4)		8,680.3		(1,701.0)		(49.1)%		N/A
Free cash flow (non-GAAP)	(5,055.2)		6,059.3		(2,530.6)		(49.9)%		N/A

Recent Developments

Delivery Update

• In April 2025, the company delivered 33,939 vehicles, up 31.6% from April 2024. As of April 30, 2025, Li Auto operates 500 retail stores in 151 cities, 500 service centers, and 2,267 supercharging stations with 12,340 charging stalls.

Refreshed Product Lineup

• During April and May 2025, Li Auto launched the Li MEGA Home, Li MEGA Ultra, and new Li L Series vehicles. The Li MEGA Home features zero-gravity second-row seats with multiple rotation options and electrically powered front doors. All models now include an upgraded assisted driving system with enhanced safety features. The Li MEGA Home is priced at RMB559,800. Deliveries for these models commenced in May.

“`# Li Auto Reports First Quarter 2025 Financial Results

### Open Source Initiative Announced

In April 2025, Li Auto became the first automaker to open-source its vehicle operating system, Li Halo OS. This initiative aims to invite collaboration from industry players and global developers to enhance system performance and foster innovation.

### 2024 Environmental, Social and Governance Report Released

On April 10, 2025, Li Auto published its 2024 Environmental, Social and Governance (ESG) report. The report details the company’s progress towards sustainability objectives and its commitment to a greener future.

### CEO and CFO Insights

Chairman and CEO Xiang Li stated that Li Auto maintained its sales leadership in China’s NEV market for vehicles priced above RMB200,000 in Q1. Following a product refresh, the new Li L series received a strong influx of orders. Li highlighted the Li MEGA Home as a product closely aligned with the company’s mission. He anticipates the launch of the Li i8 battery electric SUV in July, emphasizing commitment to user value and advancing their assisted driving technologies.

CFO Tie Li noted a 15.5% year-over-year increase in vehicle deliveries, reporting total revenues of RMB25.9 billion for Q1 2025, despite it being a seasonally slow period. Gross margin remained solid at 20.5%, with a net income of RMB646.6 million, marking a 9.4% year-over-year increase.

### Financial Results for the First Quarter of 2025

**Revenues:**

– **Total Revenues:** RMB25.9 billion (US$3.6 billion) for Q1 2025, up 1.1% from RMB25.6 billion in Q1 2024 but down 41.4% from RMB44.3 billion in Q4 2024.

– **Vehicle Sales:** RMB24.7 billion (US$3.4 billion) in Q1 2025, a 1.8% increase from RMB24.3 billion in Q1 2024, but a 42.1% drop from RMB42.6 billion in Q4 2024. Revenue growth was attributed to increased vehicle deliveries, offset by a lower average selling price.

– **Other Sales and Services:** RMB1.2 billion (US$172.0 million) in Q1 2025, a decrease of 9.7% from RMB1.4 billion in Q1 2024 and down 23.5% from RMB1.6 billion in Q4 2024.

**Cost of Sales and Gross Margin:**

– **Cost of Sales:** RMB20.6 billion (US$2.8 billion) in Q1 2025, up 1.3% from RMB20.3 billion in Q1 2024 and down 41.6% from RMB35.3 billion in Q4 2024.

– **Gross Profit:** RMB5.3 billion (US$732.9 million) in Q1 2025, stable compared to RMB5.3 billion in Q1 2024 but down 40.7% from RMB9.0 billion in Q4 2024.

– **Vehicle Margin:** 19.8% in Q1 2025 compared to 19.3% in Q1 2024 and 19.7% in Q4 2024.

– **Gross Margin:** 20.5% in Q1 2025, consistent with 20.6% in Q1 2024 and 20.3% in Q4 2024.

**Operating Expenses:**

– **Operating Expenses:** RMB5.0 billion (US$695.5 million) in Q1 2025, a 14.0% decrease from RMB5.9 billion in Q1 2024 and down 4.2% from RMB5.3 billion in Q4 2024.

Company Reports Q1 2025 Financial Results with Significant Declines

Research and Development Expenses

• Research and development expenses totaled RMB2.5 billion (US$346.4 million) in Q1 2025, down 17.5% from RMB3.0 billion in Q1 2024. This marked a 4.4% increase from RMB2.4 billion in Q4 2024. The decrease from Q1 2024 was largely due to lower employee compensation and slower new vehicle program progress.

Selling, General, and Administrative Expenses

• Selling, general, and administrative expenses reached RMB2.5 billion (US$348.8 million) in Q1 2025, down 15.0% from RMB3.0 billion in Q1 2024 and down 17.7% from RMB3.1 billion in Q4 2024. The declines were primarily attributed to reduced employee compensation, improved operational efficiency, and less marketing spending.

Income/(Loss) from Operations

• Income from operations stood at RMB271.7 million (US$37.4 million) in Q1 2025. This is a notable recovery from a RMB584.9 million loss in Q1 2024 but reflects a steep decline of 92.7% from RMB3.7 billion in Q4 2024.
• The operating margin was 1.0% in Q1 2025, improving from negative 2.3% in Q1 2024 but dropping from 8.4% in Q4 2024.
• Non-GAAP income from operations reached RMB639.3 million (US$88.1 million), a 537.2% increase from RMB100.3 million in Q1 2024, but down 84.8% from RMB4.2 billion in Q4 2024.

Net Income and Earnings Per Share

• Net income was RMB646.6 million (US$89.1 million) in Q1 2025, a 9.4% increase from RMB591.1 million in Q1 2024 but down 81.7% from RMB3.5 billion in Q4 2024.
• Non-GAAP net income was RMB1.0 billion (US$139.8 million), down 20.5% from RMB1.3 billion in Q1 2024 and 74.9% from RMB4.0 billion in Q4 2024.
• Basic and diluted net earnings per ADS attributable to ordinary shareholders were RMB0.65 (US$0.09) and RMB0.62 (US$0.08), respectively, compared to RMB0.60 and RMB0.56 in Q1 2024, and RMB3.52 and RMB3.31 in Q4 2024.
• Non-GAAP basic and diluted net earnings per ADS were RMB1.01 (US$0.14) and RMB0.96 (US$0.13), respectively, down from RMB1.29 and RMB1.21 in Q1 2024, and RMB4.03 and RMB3.79 in Q4 2024.

Cash Position, Operating Cash Flow, and Free Cash Flow

• The cash position was RMB110.7 billion (US$15.3 billion) as of March 31, 2025.
• Net cash used in operating activities was RMB1.7 billion (US$234.4 million) in Q1 2025, a decrease of 49.1% from RMB3.3 billion in Q1 2024, and down from RMB8.7 billion of net cash provided in Q4 2024. This was due to a rise in cash received from customers and other working capital changes affecting Q1 2024.
• Free cash flow was negative RMB2.5 billion (US$348.7 million) for Q1 2025, a 49.9% improvement from negative RMB5.1 billion in Q1 2024, but a decline from RMB6.1 billion in Q4 2024.

Business Outlook

The company projects Q2 2025 to experience:

• Deliveries of 123,000 to 128,000 vehicles, reflecting a year-over-year increase of 13.3% to 17.9%.
• Total revenues between RMB32.5 billion (US$4.5 billion) and RMB33.8 billion (US$4.7 billion), indicating a year-over-year rise of 2.5% to 6.7%.

This outlook is based on current market analyses and may change.

Conference Call

Management will host a conference call at 8:00 a.m. U.S. Eastern Time on May 29, 2025, to discuss these results and address inquiries from analysts and investors.

Participants should register online in advance for call access, receiving dial-in details upon registration.

Participant Online Registration

A call replay will be available until June 5, 2025. The details for accessing the replay will be provided during the call.

# Li Auto Announces Conference Call and Financial Measures Update

## Contact Information

**Hong Kong, China:**
+852-800-930-639

**International:**
+61-7-3107-6325

**Replay PIN:**
10046860

A live and archived webcast of the conference call will be available on the Company’s investor relations website at [Li Auto Investor Relations](https://ir.lixiang.com).

## Non-GAAP Financial Measures

Li Auto utilizes non-GAAP financial metrics, including non-GAAP cost of sales and non-GAAP income from operations, to assess its performance. These metrics exclude the effects of share-based compensation and deferred tax asset valuations, which the Company believes provides clearer insights into operational trends.

These non-GAAP measures are not in accordance with U.S. GAAP and may differ from similar measures used by other companies. Investors should consider these measures in conjunction with GAAP financial data. The Company provides reconciliations for clarity and encourages comprehensive reviews of its financial performance. More information can be found in the section titled “Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results.”

## Exchange Rate Information

This announcement contains Renminbi to U.S. dollar translations at an exchange rate of RMB7.2567 to US$1.00, as of March 31, 2025. The Company does not guarantee currency conversion rates will remain the same.

## About Li Auto Inc.

Li Auto Inc. is a prominent player in China’s new energy vehicle market. The Company specializes in designing, developing, and selling premium smart electric vehicles. Li Auto focuses on safety, convenience, and comfort for families while leading advancements in extended-range electric vehicle technology. With models including the Li MEGA, L9, L8, L7, and L6, the Company is expanding its vehicle lineup to cater to diverse customer needs.

For additional details, please visit [Li Auto Investor Relations](https://ir.lixiang.com).

## Safe Harbor Statement

This press release includes forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. Terms like “expect,” “anticipate,” and “believe” indicate such statements. These may involve risks that could lead to actual results differing from expectations. Factors influencing these uncertainties involve business strategies, financial conditions, and competition in the electric vehicle market.# Li Auto Reports Financial Data and Operational Challenges

## Overview of Risks and Forward-Looking Statements

Li Auto faces various risks that may impede its ability to generate positive cash flow and profits. These risks include vehicle performance issues, competition, brand reputation management, and fluctuating consumer demand. Investors should refer to Li Auto’s SEC and HKEX filings for more detailed information regarding these risks. The company does not commit to updating any forward-looking statements unless required by law.

## Contact Information for Inquiries

For investor and media inquiries, please reach out to:

**Li Auto Inc.**
Investor Relations
Email: [email protected]

**Christensen Advisory**
Roger Hu
Tel: +86-10-5900-1548
Email: [email protected]

## Financial Performance Data

### Unaudited Condensed Consolidated Statements of Comprehensive Income

(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)

| **For the Three Months Ended** | **March 31, 2024** | **December 31, 2024** | **March 31, 2025** | **March 31, 2025 (US$)** |
|——————————–|———————|———————–|———————|————————–|
| **Revenues:** | | | | |
| Vehicle sales | 24,251,553 | 42,642,978 | 24,678,585 | 3,400,800 |
| Other sales and services | 1,382,107 | 1,630,694 | | |

This data reflects Li Auto’s performance for the specified periods, indicating significant sales figures.# Financial Overview: Revenues and Costs Breakdown

### Financial Highlights

– **Total Revenues**: $25,633,660; compared to $44,273,672 last period.
– **Cost of Sales**: $20,349,355, reflecting a decrease from $35,303,454.
– **Gross Profit**: $5,284,305, down from $8,970,218.

### Detailed Breakdown

**Vehicle Sales**
– Current amount: **($19,561,658)**
– Previous amount: **($34,252,151)**
– Recent amount: **($19,801,927)**
– Comparison: **($2,728,779)**

**Other Sales and Services**
– Current amount: **($787,697)**
– Previous amount: **($1,051,303)**
– Recent amount: **($806,428)**
– Comparison: **($111,129)**

**Total Cost of Sales**
– Amount: **($20,349,355)** compared to previous **($35,303,454)**.

### Summary of Financial Position

The company shows a total revenue of $25,633,660, down significantly from last period. With costs also declining but remaining substantial at $20,349,355, gross profit reflects a downward trend as well.# Company Financials Report: Key Operating Expenses and Losses

## Research and Development Expenses
– Research and development expenses totaled (3,048,886).
– Specific figures by period include (2,408,357), (2,513,854), and (346,418).

## Selling, General, and Administrative Expenses
– Selling, general, and administrative expenses reached (2,977,585).
– Subsequent periods recorded (3,076,993), (2,531,009), and (348,782).

## Other Operating Income and Expenses
– Other operating income totaled 157,264.
– Other expenses for different periods included 218,446, (1,942), and (268).

## Total Operating Expenses
– Total operating expenses aggregated to (5,869,207).
– Breakdown by period: (5,266,904), (5,046,805), and (695,468).

## Loss/Incomes from Operations
– Loss from operations amounted to (584,902).
– Future periods showed income of 3,703,314, 271,654, and 37,435.

## Other Expenses
### Interest Expense
– Interest expenses totaled (28,598).
– Further periods indicated (61,759), (48,220), and (6,645).

This report summarizes the company’s financial position, detailing operating expenses and losses across specified periods.# Li Auto Reports Significant Financial Performance in Recent Quarter

### Financial Overview

**Interest and Investment Income, Net**
Li Auto reported net interest income and investment income of **1,068,888**. This figure is broken down into components: **403,021**, **516,261**, and **71,143**.

**Others, Net**
The company recorded net income from other sources totaling **220,184**. Additional figures include **17,128**, **34,730**, and **4,786**.

### Income Metrics

**Income Before Income Tax**
The income before income tax stands at **675,572**, which reflects a significant gain compared to **4,061,704** and **774,425** in other related categories.

**Income Tax Expense**
Li Auto faced income tax expenses of **(84,446)** and **(529,010)**, and other losses were recorded at **(127,780)** and **(17,609)**.

### Net Income Summary

**Net Income**
Li Auto’s net income amounted to **591,126**, with additional figures of **3,532,694**, **646,645**, and **89,110** reflecting separate accounting segments.

**Loss or Income Attributable to Noncontrolling Interests**
The company recorded a net loss attributable to noncontrolling interests of **(1,432)**, while other contributions included **9,757**, **(3,679)**, and **(507)**.

### Attributable Net Income

**Net Income Attributable to Ordinary Shareholders**
Li Auto’s net income attributable to ordinary shareholders reached **592,558**, along with totals of **3,522,937** and **650,324** from various sections of its financial reporting.# Q3 Financials Show Strong Income Growth Across Key Metrics

### Net Income Figures

The company’s net income stood at **$591,126** for the period, while total income reached **$3,532,694**. The reported figure for **net income attributable to noncontrolling interests** was **$1,432**.

### Other Comprehensive Income

Other comprehensive loss included a **foreign currency translation adjustment, net of tax**, recorded at **$(59,936)**. Additional figures included **$236,903** and **$(69,994)** without further detailed context.

### Overall Comprehensive Income

Total comprehensive income for the quarter amounted to **$531,190**, emerging from key calculations around total other comprehensive losses and income adjustments. The breakdown included **$3,769,597** achieved in total comprehensive income, with specific allocations also noted: **$576,651** and **$79,465** attributed to various components within the overall report.

### Summary

These numbers illustrate a robust performance, with the company managing substantial net income growth compared to previous reporting periods.# Li Auto Reports Financial Results with Comprehensive Income Figures

### Comprehensive Income Analysis

Li Auto Inc. reported comprehensive income attributable to ordinary shareholders of **532,622** for the period. The total comprehensive income amounted to **3,759,840**.

### Weighted Average Number of ADSs

The weighted average number of American Depositary Shares (ADSs) shows:

– Basic: **993,308,654**
– Diluted: **1,066,436,872**

### Earnings Per ADS

Net earnings per ADS attributable to ordinary shareholders were reported as follows:

– **Basic Earnings**:
– **0.60** for the period
– Previous figure: **3.52**
– Latest results: **0.65**, with another figure at **0.09**

– **Diluted Earnings**:
– **0.56** for the period
– Previous figure: **3.31**
– Latest results: **0.62**, with another figure at **0.08**

### Conclusion

Li Auto’s financial reporting showcases substantial income for ordinary shareholders, along with a thorough disclosure of its earnings per ADS. The figures highlight the company’s current standing and performance in the market.# Li Auto Inc. Reports Key Financial Metrics for the Quarter

## Earnings per Share Overview

Li Auto Inc. has disclosed its latest earnings figures for the quarter.

### Basic Earnings per Share
– Basic:
– Q1: 1,986,617,307
– Q2: 2,000,500,621
– Q3: 2,008,198,987
– Q4: 2,008,198,987

### Diluted Earnings per Share
– Diluted:
– Q1: 2,132,873,744
– Q2: 2,133,794,325
– Q3: 2,138,209,219
– Q4: 2,138,209,219

## Net Earnings Per Share

### Basic Net Earnings
– Basic:
– Q1: 0.30
– Q2: 1.76
– Q3: 0.32
– Q4: 0.04

### Diluted Net Earnings
– Diluted:
– Q1: 0.28
– Q2: 1.65
– Q3: 0.31
– Q4: 0.04

## Financial Position

Li Auto Inc.’s consolidated balance sheets, presented in thousands, offer insight into the company’s financial health.

For further details on asset allocation, liabilities, and shareholders’ equity, please refer to the complete balance sheet.# Financial Overview for December 2024 and March 2025

### Key Dates and Currency

| | December 31, 2024 | | March 31, 2025 | | March 31, 2025 |
|————-|——————-|—–|—————–|—–|—————–|
| | | | | | |
| **RMB** | | | | | |
| **US$** | | | | | |

### Assets Overview

#### Current Assets

Current assets consist of cash, receivables, and inventories.

**Cash and Cash Equivalents**
– December 31, 2024: 65,901,123
– March 31, 2025: 53,233,352
– March 31, 2025: 7,335,752

**Restricted Cash**
– December 31, 2024: 6,849
– March 31, 2025: 4,987
– March 31, 2025: 687

**Time Deposits and Short-Term Investments**
– December 31, 2024: 46,904,548
– March 31, 2025: 57,445,104
– March 31, 2025: 7,916,147

**Trade Receivable**
– December 31, 2024: 135,112
– March 31, 2025: 68,538
– March 31, 2025: 9,445

**Inventories**
– December 31, 2024: 8,185,604
– March 31, 2025: 10,092,980# Financial Summary: Current and Non-current Assets Overview

### Current Assets

**Prepayments and Other Current Assets**
– Amount: $1,390,850

**Total Current Assets**
– Current Year: $126,309,782
– Previous Year: $126,174,617
– Variance: $17,387,327

### Non-current Assets

**Long-term Investments**
– Current Year: $922,897
– Previous Year: $821,563
– Variance: $113,214

**Property, Plant and Equipment, Net**
– Current Year: $21,140,933
– Previous Year: $20,640,105
– Variance: $2,844,283

**Operating Lease Right-of-use Assets, Net**
– Current Year: $8,323,963
– Previous Year: $8,378,789
– Variance: $1,154,628

**Intangible Assets, Net**
– Current Year: $914,951
– Previous Year: $928,846
– Variance: $127,998

**Goodwill**
– Current Year: $5,484
– Previous Year: $5,484
– Variance: $756

**Deferred Tax Assets**
– Current Year: $2,542,180
– Previous Year: $2,740,944
– Variance: $377,712

**Other Non-current Assets**
– Current Year: $2,188,888
– Previous Year: $2,164,357
– Variance: $24,531

This summary reflects the status of current and non-current assets, highlighting key figures and variances between the current and previous years.# Financial Summary of Total Assets and Liabilities

### Non-Current Assets

Total non-current assets amount to **$36,039,296**. Previous figures stand at **$35,680,088**. Additionally, assets included another category totaling **$4,916,847**.

### Total Assets

The overall total assets are **$162,349,078**, compared to **$161,854,705** in the previous period. A further breakdown shows **$22,304,174** in an unspecified category.

### Liabilities and Equity Overview

#### Current Liabilities

Key components of current liabilities include:

– **Short-term borrowings**: $281,102, down from $231,102 previously, with **$31,847** from another source.
– **Trade and notes payable**: $53,596,194, compared to **$51,958,831** last period, with another category at **$7,160,118**.
– **Amounts due to related parties**: This stands at $11,492, slightly higher than **$11,003** previously.
– **Deferred revenue, current**: $1,396,489, up from **$1,322,036**, with **$182,181** in another source.
– **Operating lease liabilities, current**: Amounts to $1,438,092, virtually unchanged from **$1,438,517**.
– **Finance lease liabilities, current**: Stands at $95,205, compared to **$124,881** in the previous document.

All figures reflect the company’s financial situation in precise terms, providing a clear view of its current standing in assets and liabilities.# Financial Summary of Current and Non-Current Liabilities

## Current Liabilities Overview
The total current liabilities amount to **$69,215,896**, which indicates a notable increase compared to **$67,476,814** from the previous period. The breakdown includes:

– **Accruals and other current liabilities**: **$12,397,322** compared to **$12,390,444**.
– **Other current liabilities** total **$1,707,449**.

## Non-Current Liabilities Breakdown
The report outlines various non-current liabilities. Key figures include:

– **Long-term borrowings**: **$8,151,598**, slightly up from **$8,145,201**.
– **Deferred revenue, non-current**: **$720,531**, an increase from **$683,475**.
– **Operating lease liabilities, non-current**: **$5,735,738**, versus **$5,793,176**.
– **Finance lease liabilities, non-current** total **$642,984**, marginally higher than **$622,995**.
– **Deferred tax liabilities** stand at **$864,999**, close to **$854,972** previously noted.
– **Other non-current liabilities** amount to **$5,696,950**, compared to **$5,951,991** earlier.

### Total Non-Current Liabilities
The total for non-current liabilities remains significant, reflecting ongoing financial commitments essential for company operations.

This concise report summarizes the latest updates in current and non-current liabilities, showcasing the financial health and stability of the organization.# Financial Overview of Li Auto Inc. for Q1 2024

### Key Financial Data

– **Total Liabilities**:
– March 31, 2024: 91,028,696
– December 31, 2023: 89,528,624
– Change: 12,337,373

– **Total Shareholders’ Equity for Li Auto Inc.**:
– March 31, 2024: 70,874,884
– December 31, 2023: 71,824,262
– Change: 9,897,648

– **Noncontrolling Interests**:
– March 31, 2024: 445,498
– December 31, 2023: 501,819
– Change: 69,153

### Total Shareholders’ Equity
– Total (March 31, 2024): 71,320,382
– Total (December 31, 2023): 72,326,081
– Change: 9,966,801

### Total Liabilities and Shareholders’ Equity
– March 31, 2024: 162,349,078
– December 31, 2023: 161,854,705
– Change: 22,304,174

### Unaudited Cash Flow Statements
#### For the Three Months Ended
– **Reporting Dates**:
– March 31, 2024
– December 31, 2023

This overview presents a detailed snapshot of Li Auto Inc.’s financial position, indicating adjustments in key metrics from the previous quarter.# Financial Overview for March 31, 2025: Key Metrics

### Period Ending Date
March 31, 2025

### Currency Overview
– RMB
– US$

### Operating Activities
Net cash used in operating activities:
– RMB (3,342,386)
– US$ 8,680,301
– RMB (1,700,968)
– US$ (234,400)

### Investing Activities
Net cash used in investing activities:
– RMB (3,098,206)
– RMB (19,987,058)
– RMB (10,959,789)
– US$ (1,510,299)

### Financing Activities
Net cash provided by/(used in) financing activities:
– RMB 185,257
– RMB (734,467)
– RMB 61,406
– US$ 8,462

### Exchange Rate Effects
Effect of exchange rate changes on cash, cash equivalents, and restricted cash:
– RMB 55,813
– RMB 355,742
– RMB (70,282)
– US$ (9,685)

### Net Change in Cash
Net change in cash, cash equivalents, and restricted cash:
– RMB (6,199,522)
– RMB (11,685,482)
– RMB (12,669,633)
– US$ (1,745,922)

### Beginning Cash Balances
Cash, cash equivalents, and restricted cash at the beginning of the period:
– RMB 91,329,509
– RMB 77,593,454
– RMB 65,907,972
– US$ 9,082,361

### Ending Cash Balances
Cash, cash equivalents, and restricted cash at the end of the period:
– [Data to follow]# Li Auto Inc. Announces Quarterly Financial Reconciliation

## Key Financial Metrics

For the three months ending March 31, 2024, Li Auto Inc. reported various financial figures:

– **Net Cash (Used In)/Provided by Operating Activities**
– Q1 2024: $(3,342,386)
– Q4 2023: $8,680,301
– Q1 2025: $(1,700,968)
– Q4 2024: $(234,400)

– **Capital Expenditures**
– Q1 2024: $(1,712,843)
– Q4 2023: $(2,620,969)
– Q1 2025: $(829,597)
– Q4 2024: $(114,322)

– **Free Cash Flow (Non-GAAP)**
– Q1 2024: $(5,055,229)
– Q4 2023: $6,059,332
– Q1 2025: $(2,530,565)
– Q4 2024: $(348,722)

### Summary

Li Auto Inc.’s financial reconciliation illustrates significant fluctuations in cash flow and capital expenditures across the quarters. The company faced net cash outflows from operating activities in recent quarters, signaling challenges in sustaining positive cash flow. The free cash flow also showed a notable decrease, indicating potential investment or operational issues requiring attention.# Financial Summary for March 31, 2025: Key Insights

### Overview of Financial Performance

**Date:** March 31, 2025

Financial metrics revealed significant data for the reporting period.

### Cost of Sales

– **RMB:** (20,349,355)
– **US$:** (2,839,908)
– **Total Cost of Sales (RMB):**
– Previous Year: (35,303,454)
– Current Year: (20,608,355)

### Share-Based Compensation Expenses

– **RMB:** 13,469
– **US$:** 992
– **Previous Year (Comparison):**
– RMB: 10,394
– RMB: 7,196

### Non-GAAP Cost of Sales

– **RMB:**
– Total: (20,335,886)
– Previous Year: (35,293,060)
– **US$:**
– Total: (2,838,916)

### Research and Development Expenses

– **RMB:**
– Current: (3,048,886)
– Previous Year: (2,408,357)
– **RMB:**
– Current: (2,513,854)
– Previous Year: (346,418)

### Conclusion

The financial data indicates variances in cost, compensation, and development expenses, providing a vital overview of the company’s operational efficiency and financial health as of March 31, 2025.# Financial Summary Reveals Significant Operational Losses

### Non-GAAP Research and Development Expenses

Non-GAAP research and development expenses totaled $(2,615,122). This marks a decrease from $(2,105,310) the previous period. The cumulative said expenses for the period reached $(2,274,922), leading to a quarterly decrease of $(313,492).

### Selling, General, and Administrative Expenses

Selling, general, and administrative expenses recorded were $(2,977,585). Compared to $(3,076,993) reported earlier, there was a notable reduction. Year-to-date figures indicate a drop to $(2,531,009), alongside $(348,782) from the previous year.

### Share-Based Compensation Expenses

Share-based compensation expenses hit $237,994, a slight decline from $199,633. Subsequent quarterly figures recorded $121,511 and $16,745, respectively.

### Non-GAAP Selling, General, and Administrative Expenses

The non-GAAP selling, general, and administrative expenses stood at $(2,739,591). This is down from $(2,877,360) reflected previously. The total also showed a decline to $(2,409,498), impacted by an adjustment of $(332,037).

### Operational Results

The loss from operations was $(584,902), contrasting sharply with an income of $3,703,314 in the previous quarter. The drastic shift emphasizes financial challenges faced during this period.# Financial Summary Highlights Key Metrics and Non-GAAP Data

### Share-Based Compensation Details
Share-based compensation expenses reached **$685,227** across different periods. For further context, they were **$513,074**, **$367,639**, and **$50,663** in subsequent time frames, signaling a strategic investment in employee incentives.

### Non-GAAP Income from Operations
Non-GAAP income from operations amounted to **$100,325**. This figure contrasts sharply with the **$4,216,388** seen in other recent evaluations, indicating varying operational efficiencies. A notable value of **$639,293** also reflects significant operational changes.

### Net Income Breakdown
The reported net income stands at **$591,126**, with substantial figures of **$3,532,694**, **$646,645**, and **$89,110** for the respective periods. This provides a mixed overview of profitability amid fluctuating compensation expenses.

### Valuation Allowance on Deferred Tax Assets
There was no release of valuation allowances, leading to adjustments of **($6,085)** in specific periods. The absence of valuation adjustments in several instances indicates stable tax asset management.

### Non-GAAP Net Income Insights
Non-GAAP net income reached **$1,276,353**, with other figures cited as **$4,039,683**. This illustrates differing views of profitability when non-GAAP measures are applied, reflecting the organization’s financial landscape.# Li Auto Inc. Financial Highlights: Q3 Results Overview

### Key Financial Metrics

Li Auto Inc. reported a **net income** attributable to ordinary shareholders of **$592,558** for the quarter. The total net income for the year reached **$3,522,937**.

### Compensation and Tax Adjustments

**Share-based compensation expenses** amounted to **$685,227**, while adjustments from the **valuation allowance on deferred tax assets** showed a negative figure of **($6,085)**.

### Non-GAAP Measures

The **non-GAAP net income** attributable to ordinary shareholders for the quarter was **$1,277,785**, and the annual figure stood at **$4,029,926**.

### Share Details

The **weighted average number of ADS** for the reporting period and key figures regarding shareholder returns were also noted, although specific numbers were not included in this excerpt.

These figures highlight Li Auto’s financial performance and operational expenses in a concise overview.# Earnings Report Shows Strong Performance Across Key Metrics

## Financial Highlights from Recent Earnings Report

**Basic Earnings Per Share (EPS)**
For the period reported, Basic EPS was reported at **993,308,654** shares. This figure rose to **1,000,250,311** shares and then reached **1,004,099,494** shares.

**Diluted Earnings Per Share (EPS)**
Diluted EPS showed similar trends: **1,066,436,872** shares increased to **1,066,897,163** shares and eventually to **1,069,104,610** shares.

## Non-GAAP Net Earnings
The Non-GAAP net earnings per American Depositary Share (ADS) attributable to ordinary shareholders for Basic and Diluted categories are as follows:

– **Basic**: **1.29** and **4.03**
– **Diluted**: **1.21** and **3.79**.

## Shareholder Statistics

### Weighted Average Number of Ordinary Shares
The weighted average number of ordinary shares remained substantial:
– **Basic**: **1,986,617,307** climbed to **2,000,500,621**, and peaked at **2,008,198,987** shares.
– **Diluted**: It began at **2,132,873,744** and settled at **2,133,794,325** shares.

This report indicates a consistent upward trend across all major financial metrics, reflecting the company’s robust performance in the market.# Company Reports Non-GAAP Earnings and Financial Results

## Financial Highlights

Non-GAAP net earnings per share for ordinary shareholders were reported as follows:

– **Basic:**
– Last quarter: **$0.64**
– Same quarter previous year: **$2.01**
– Year-to-date: **$0.51**
– Previous year-to-date: **$0.07**

– **Diluted:**
– Last quarter: **$0.60**
– Same quarter previous year: **$1.89**
– Year-to-date: **$0.48**
– Previous year-to-date: **$0.07**

Total revenue stood at **$2,138,209,219** for the period.

## Additional Information

1. All financial data is converted using an exchange rate of RMB7.2567 to US$1.00 as of March 31, 2025.
2. Vehicle margin is calculated based solely on revenues and costs from vehicle sales.
3. Non-GAAP measures exclude share-based compensation and the release of valuation allowance on deferred tax assets.
4. Each American Depository Share (ADS) represents two Class A ordinary shares.
5. Free cash flow is defined as operating cash flow minus capital expenditures.
6. Cash position includes all cash equivalents, restricted cash, and short-term investments.
7. Non-GAAP adjustments have no tax impact for all periods reported.

## Conclusion

These results reflect the company’s strategic financial performance, showcasing its approach to managing earnings and operational costs effectively.

*Note: This article was initially published on Quiver News.*