Li Auto reported revenue of RMB 5.04 billion ($780.4 million) in the second quarter, beating market expectations of RMB 4.41 billion, according to the company's unaudited financial report released Monday.
That's up 159 percent from a year ago and 41 percent from the first quarter.
The company reported revenue of RMB 4.9 billion from vehicle sales in the second quarter, up 41.6 percent from the first quarter.
It reported a net loss of RMB 235.5 million in the second quarter, a 34.6 percent decrease from RMB 360 million in the first quarter.
Its gross margin in the second quarter was 18.9 percent, up from 17.3 percent in the first quarter and 13.3 percent in the same quarter last year.
The company's vehicle margin was 18.7 percent in the second quarter, up from 16.9 percent in the first quarter.
Li Auto delivered 17,575 new vehicles in the second quarter, up 166 percent year-over-year and 40 percent from the first quarter.
Li Auto expects to deliver 25,000 - 26,000 in the third quarter, an increase of about 188.7 -200.2 percent from the same quarter last year.
The company expects third-quarter revenue to be RMB 6.98 billion to RMB 7.25 billion.
"We expect our enhanced product lineup and increased deliveries following production ramp-up to help us continue to deliver strong results," said Li Tie, Li Auto's chief financial officer.
The company's management will hold a conference call at 8:00 am US Eastern Time on Monday, August 30, 2021 (8:00 pm Beijing Time on August 30, 2021) to discuss financial results and answer questions from investors and analysts.
For participants who wish to join the call, please complete online registration using the link provided below at least 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, Direct Event passcode, a unique registrant ID and an e-mail with detailed instructions to join the conference call.
Participant Online Registration: http://apac.directeventreg.com/registration/event/7679774
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