LI AUTO-W, which turned losses around and surged 16% after its performance report, is now sprinting towards delivering 30,000 vehicles!

After Li Auto released its financial report for LI AUTO-W, its stock prices skyrocketed in both Hong Kong and the US!

Yesterday evening, Li Auto released its Q1 report, which showed:

Q1 revenue of RMB 18.79 billion, a YoY increase of 96.5% and a QoQ increase of 6.4%, slightly lower than the market's expected RMB 18.88 billion;

Net profit turned from a loss to a profit YoY, from a net loss of RMB 10.9 million in the same period last year to a net profit of RMB 9.338 billion, a QoQ increase of 252.0%;

Q1 total vehicle deliveries were 52,584 units, a YoY increase of 65.8%, reaching a historical high and within the company's delivery target.

More importantly, LI AUTO-W expects the company's Q2 vehicle deliveries to be between 76,000 and 81,000 units, a QoQ increase of 44.5-54.0%; revenue is expected to be between RMB 24.22 billion and RMB 25.86 billion, a QoQ increase of 28.9-37.6%, which is quite strong.

As a result, Li Auto's US stock prices rose by as much as 17% overnight and ultimately closed up 14%; today, Hong Kong stocks followed suit, opening high and rising all the way, now up more than 16%.

At the same time as the Q1 profit greatly exceeded expectations, LI AUTO-W's biggest surprise to the market was its deliveries and guidance.

According to data previously released by LI AUTO-W, 25,681 vehicles were delivered in April, which means that LI AUTO-W's delivery performance in the first four months of this year is far ahead of its competitors, with a total of 78,262 units delivered - second-ranked NIO-SW delivered only 37,699 units, while XPENG-W delivered only 25,309 units.

Source: Wind

At the same time, after delivering 25,000 units in April, LI AUTO-W is only 50,000 units away from its minimum delivery target for Q2. If it can maintain its momentum from April, achieving its target will obviously be relatively easy. LI AUTO-W even stated in its earnings call that it hopes to achieve monthly sales of 30,000 units in June.

30,000 units is LI AUTO-W's ambition, but the market is also full of confidence in LI AUTO-W.

CICC stated that LI AUTO-W's monthly delivery guidance for Q2 is between 25,000 and 27,000 units, and it is expected that monthly deliveries will increase to 30,000 units in Q3, mainly due to the support of abundant orders.

However, the above-mentioned investment bank also expects that LI AUTO-W's gross margin will have some downward pressure, mainly because the proportion of lower-priced models will increase significantly in Q2 and Q3, but the LI AUTO-W L7/L8Air version will offset some of the negative impact. **

In addition, LI AUTO-W remains unmatched in the segment market of large and medium-sized household cars. We are optimistic about Li Auto's clear vehicle planning and leading position in the household SUV segment market, and expect sales to further increase in the second half of the year.