Home » Point of view | Li Auto handed over its “Ideal” annual report and said that new energy vehicles are a huge gold mine – Guan Guan.com

Point of view | Li Auto handed over its “Ideal” annual report and said that new energy vehicles are a huge gold mine – Guan Guan.com

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Luxury SUV Manufacturer Li Auto Exceeds Expectations in 2023

The Chinese luxury SUV manufacturer Li Auto has announced its impressive fourth quarter and full-year financial results for 2023, exceeding expectations and solidifying its position in the new energy vehicle market.

In the fourth quarter of 2023, Li Auto reported a revenue of 41.73 billion yuan, marking a significant year-on-year increase of 136.4%. The quarterly net profit reached 5.75 billion yuan, with a gross profit margin of 23.5%. For the full year, Li Auto’s revenue totaled 123.85 billion yuan, a remarkable year-on-year increase of 173.5%, and the annual delivery volume reached 376,030 vehicles, an increase of 182.2% from the previous year.

Li Auto also achieved an annual profit for the first time since its inception, joining the ranks of Tesla and BYD as the third new energy vehicle company in the world to achieve this milestone. The company’s employees were rewarded with generous year-end bonuses, ranging from 4-8 months’ salary, for exceeding the 2023 sales target.

Looking ahead to 2024, Li Auto has set an ambitious full-year delivery target of 800,000 vehicles, with a projected net profit exceeding 20 billion yuan. Chairman and CEO Li Xiang emphasized the importance of maintaining the existing product matrix and avoiding price wars in order to achieve this target.

Li Xiang’s vision for the future of Li Auto in the new energy vehicle market is clear, as he stated, “There is no need to distract ourselves from looking at other places. This is a huge gold mine.” He highlighted the company’s commitment to innovation and growth, setting the stage for continued success in the years to come.

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As Li Auto prepares to launch new models and expand its product lineup in 2024, the company remains focused on supercharging infrastructure and smart driving technology to enhance the overall customer experience. With a strong emphasis on quality and innovation, Li Auto is poised to lead the way in the competitive new energy vehicle market.

With a strong financial performance and a clear vision for the future, Li Auto is positioned to maintain its position as a top player in the luxury SUV market and continue to exceed expectations in the years ahead.

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