BEIJING, China- Li Auto Inc. ('Li Auto' or the 'Company') (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle market, today announced its unaudited financial results for the quarter ended June 30, 2022.
Operating Highlights for the Second Quarter of 2022
Deliveries of Li ONE were 28,687 vehicles in the second quarter of 2022, representing a 63.2% year-over-year increase.
Deliveries
2022 Q2 2022 Q1 2021 Q4 2021 Q3
28,687 31,716 35,221 25,116
Deliveries
2021 Q2 2021 Q1 2020 Q4 2020 Q3
17,575 12,579 14,464 8,660
As of June 30, 2022, the Company had 247 retail stores covering 113 cities, as well as 308 servicing centers and Li Auto-authorized body and paint shops operating in 226 cities.
Financial Highlights for the Second Quarter of 2022
Vehicle sales were RMB8.48 billion (US$1.27 billion) in the second quarter of 2022, representing an increase of 73.0% from RMB4.90 billion in the second quarter of 2021 and a decrease of 8.9% from RMB9.31 billion in the first quarter of 2022.
Vehicle margin2 was 21.2% in the second quarter of 2022, compared with 18.7% in the second quarter of 2021 and 22.4% in the first quarter of 2022.
Total revenues were RMB8.73 billion (US$1.30 billion) in the second quarter of 2022, representing an increase of 73.3% from RMB5.04 billion in the second quarter of 2021 and a decrease of 8.7% from RMB9.56 billion in the first quarter of 2022.
Gross profit was RMB1.88 billion (US$280.4 million) in the second quarter of 2022, representing an increase of 97.1% from RMB952.8 million in the second quarter of 2021 and a decrease of 13.2% from RMB2.16 billion in the first quarter of 2022.
Gross margin was 21.5% in the second quarter of 2022, compared with 18.9% in the second quarter of 2021 and 22.6% in the first quarter of 2022.
Loss from operations was RMB978.5 million (US$146.1 million) in the second quarter of 2022, representing an increase of 82.6% from RMB535.9 million in the second quarter of 2021 and an increase of 136.9% from RMB413.1 million in the first quarter of 2022. Non-GAAP loss from operations3 was RMB520.8 million (US$77.8 million) in the second quarter of 2022, representing an increase of 42.5% from RMB365.5 million in the second quarter of 2021, and compared with RMB74.9 million non-GAAP income from operations3 in the first quarter of 2022.
Net loss was RMB641.0 million (US$95.7 million) in the second quarter of 2022, representing an increase of 172.2% from RMB235.5 million in the second quarter of 2021, and compared with RMB10.9 million net loss in the first quarter of 2022. Non-GAAP net loss3 was RMB183.4 million (US$27.4 million) in the second quarter of 2022, representing an increase of 181.7% from RMB65.1 million in the second quarter of 2021, and compared with RMB477.1 million non-GAAP net income3 in the first quarter of 2022.
Operating cash flow was RMB1.13 billion (US$168.6 million) in the second quarter of 2022, representing a decrease of 19.8% from RMB1.41 billion in the second quarter of 2021 and a decrease of 38.4% from RMB1.83 billion in the first quarter of 2022.
Free cash flow4 was RMB451.7 million (US$67.4 million) in the second quarter of 2022, representing a decrease of 54.0% from RMB982.1 million in the second quarter of 2021 and a decrease of 10.0% from RMB502.0 million in the first quarter of 2022.
Key Financial Results: See full results at:
https://ir.lixiang.com/news-releases/news-release-details/li-auto-inc-announces-unaudited-second-quarter-2022-financial
LI AUTO INC. 
