Summary by Moomoo AI
Li Auto achieved revenue of RMB144.5 billion in 2024, representing a 16.6% YoY increase, while net income decreased 31.9% YoY to RMB8.0 billion. The company's operating margin declined to 4.9% from 6.0% in the previous year, with R&D expenses reaching RMB11.1 billion, accounting for 7.7% of revenue. The company maintained a strong cash position of RMB112.8 billion.The company continues to focus on premium smart electric vehicles, operating through a direct sales model with retail stores and service networks across China. Capital commitments stood at RMB6.42 billion, with manufacturing facilities in Changzhou and Beijing. The company's product portfolio includes EREV (Li L series) and BEV (Li MEGA MPV) vehicles.Li Auto's investment portfolio includes RMB6.08 billion in short-term investments and RMB922 million in equity securities. The company faces regulatory requirements including a 3% consumption tax on EREV sales and maintains restricted net assets of RMB20.10 billion under PRC regulations. Two securities class actions in U.S. courts remain pending.
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