Chinese EV Maker Li Auto Misses Q1 Revenue Expectations Despite Surging Vehicle Sales, Stock Tanks
Chinese EV Maker Li Auto Misses Q1 Revenue Expectations Despite Surging Vehicle Sales, Stock Tanks
Li Auto Inc (NASDAQ:LI) reported fiscal first-quarter 2024 revenue growth of 36.4% year-on-year to $3.55 billion, missing the analyst consensus estimate of $3.84 billion.
理想汽车公司（纳斯达克股票代码：LI）报告称，2024财年第一季度收入同比增长36.4％，至35.5亿美元，未达到分析师共识估计的38.4亿美元。
Adjusted net earnings per ADS was $0.17 missed the analyst consensus estimate of $0.35. The stock price dropped after the results.
调整后的每股ADS净收益为0.17美元，未达到分析师共识估计的0.35美元。业绩公布后，股价下跌。
Vehicle sales increased 32.3% to $3.4 billion, mainly attributable to the increase in vehicle deliveries. Total vehicle deliveries were 80,400 units in the quarter, an 52.9% Y/Y increase.
汽车销售额增长了32.3％，达到34亿美元，这主要归因于汽车交付量的增加。本季度汽车总交付量为80,400辆，同比增长52.9％。
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The vehicle margin declined by 50 bps year over year to 19.3%, while the gross margin expanded by 20 bps year over year to 20.6%.
汽车利润率同比下降50个基点至19.3％，而毛利率同比增长20个基点至20.6％。
Adjusted income from operations was $13.9 million, down by 88.7% Y/Y.
调整后的运营收入为1,390万美元，同比下降88.7％。
Li Auto held cash and equivalents of $13.7 billion as of March 31, 2024. Cash provided by operating activities was $462.9 million for the quarter.
截至2024年3月31日，理想汽车持有137亿美元的现金及等价物。本季度经营活动提供的现金为4.629亿美元。
As of March 31, 2024, the company had 474 retail stores covering 142 cities, 356 servicing centers, and Li Auto-authorized body and paint shops operating in 209 cities, and 357 super charging stations in operation equipped with 1,544 charging stalls.
截至2024年3月31日，该公司拥有覆盖142个城市的474家零售门店，356个服务中心，以及在209个城市运营的李汽车授权的车身和喷漆车间，以及357个配备1,544个充电摊位的超级充电站在运营。
In April 2024, the company delivered 25,787 vehicles, representing an increase of 0.4% from April 2023.
2024年4月，该公司交付了25,787辆汽车，比2023年4月增长了0.4％。
Mr. Xiang Li, chairman and chief executive officer of Li Auto, commented, "In March, we launched and commenced delivery of our high-tech flagship family MPV, Li MEGA, which is also our first high-power charging BEV. Meanwhile, we accelerated our efforts to deploy super charging stations nationwide, adding charging resources for Li Auto users to expedite the 0-to-1 development phase of our high-power charging BEVs."
理想汽车董事长兼首席执行官李向先生评论说：“3月，我们推出并开始交付高科技旗舰系列MPV——Li MEGA，这也是我们首款大功率充电电动汽车。同时，我们加大了在全国范围内部署超级充电站的力度，为理想汽车用户增加了充电资源，以加快我们大功率充电电动汽车的0比1开发阶段。”
"In April, we launched and commenced delivery of Li L6, a five-seat premium family SUV, to satisfy the mobility needs of more young families, making all-wheel-drive range extension system and intelligent features available on vehicles priced below RMB300,000."
“4月，我们推出并开始交付五座豪华家用SUV——Li L6，以满足更多年轻家庭的出行需求，为价格低于30万元人民币的车辆提供全轮驱动续航里程扩展系统和智能功能。”
Outlook: Li Auto sees second-quarter fiscal 2024 revenue of $4.1 billion – $4.3 billion, representing an increase of 4.2% – 9.4% Y/Y.
展望：理想汽车预计2024财年第二季度收入为41亿美元至43亿美元，同比增长4.2％至9.4％。
LI expects first-quarter vehicle deliveries of 105,000 – 110,000, representing an increase of 21.3%—27.1% year over year.
李预计，第一季度的汽车交付量为10.5万至11万辆，同比增长21.3％至27.1％。
Li Auto stock lost over 15% in the last 12 months. Investors can gain exposure to the stock via VanEck Low Carbon Energy ETF (NYSE:SMOG) and First Trust Long/Short Equity (NYSE:FTLS).
在过去的12个月中，理想汽车的股票下跌了15％以上。投资者可以通过VanEck低碳能源ETF（纽约证券交易所代码：SMOG）和第一信托多头/空头股票（纽约证券交易所代码：FTLS）获得股票敞口。
Price Action: LI shares traded lower by 4.26% at $23.83 in premarket at the last check Monday.
价格走势：在周一的最后一次盘前盘中，LI股价下跌4.26％，至23.83美元。
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