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March 14 - Li Auto (LI, Financial) shares climbed nearly 2.5% in Hong Kong trading on Friday after the company released its Q4 earnings results, highlighting strong delivery performance.
The Chinese electric vehicle maker reported adjusted Q4 earnings of 3.79 yuan per American depositary share, surpassing analyst expectations of 3.48 yuan.
Revenue increased 6.1% year-over-year to 44.3 billion yuan, reflecting a solid quarter for the company.
Q4 vehicle deliveries reached 158,696 units, a 20% increase YOY, while Q1 is expected to see between 88,000 and 93,000 units.
However, the outlook for Q1 and the margin decline disappointed investors.
Li Auto projects first-quarter revenue between 23.4 billion and 24.7 billion yuan, signaling a year-over-year decline of between 8.7% and 3.5%.
Gross margin contracted to 20.3% from 23.5%, and free cash flow fell 59% year-over-year to 6.06 billion yuan.
For fiscal year 2024, total revenue was 144.5 billion yuan, with net income of 8.0 billion yuan.
This article first appeared on GuruFocus.