Today, Li Auto released its fourth quarter and full-year 2021 financial results. The financial report shows,In the fourth quarter, it achieved revenue of 10.62 billion yuan and delivered 35,221 vehicles. The quarterly revenue exceeded 10 billion yuan for the first time; in 2021, the revenue was 27.01 billion yuan, a year-on-year increase of 185.6%.In terms of net profit, the net profit in the fourth quarter was RMB 107.5 million, and the net loss in 2021 was RMB 321.5 million, a year-on-year increase of 111.9%.
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In terms of annual sales, 90,491 vehicles were delivered in 2021, a year-on-year increase of 177.4%, and vehicle sales revenue was RMB 26.13 billion, an increase of 181.5% from RMB 9.28 billion in 2020.
Furthermore, as of now,Ideal ONE has delivered more than 10,000 vehicles for three consecutive months, setting a new record for the delivery of Chinese luxury brand models over 300,000 yuan.
Meanwhile, vehicle gross profit margin in 2021 was 20.6%, compared to 16.4% in 2020, while selling, general and administrative expenses were RMB 3.49 billion.
Other sales and service revenue in 2021 was RMB 881.3 million. The increase in other sales and service revenue was mainly attributable to the increase in the cumulative sales of vehicles, which resulted in the increase in the sales of charging piles, accessories and services, and the increase in the sales of new energy vehicle credits.
Cost of sales in 2021 was RMB 21.25 billion, an increase of 168.7% from RMB 7.91 billion in 2020. The increase in cost of sales was in line with the increase in revenue, primarily due to higher vehicle deliveries in 2021.In addition, as of December 31, 2021, the company had a total of 11,901 employees.
Li Auto expects that in the first quarter of 2022: the vehicle delivery volume will be 30,000 to 32,000 units, an increase of 138.5% to 154.4% compared with the first quarter of 2021, and the total revenue will be RMB 8.84 billion.
