Li Auto's First Quarter Revenue Stands at 18.79 Billion yuan, up 96% YoY

Li Auto reported first-quarter revenue of 18.79 billion yuan, up 96% year-on-year, compared to estimates of 18.68 billion yuan. Li Auto expects second-quarter revenue to be 24.22-25.86 billion yuan, up 177.4-196.1% year-on-year. The company delivered 52,600 units in the first quarter, up 66% year-on-year, compared to an estimate of 53,400 units. Li Auto said NON-GAAP net profit for the first quarter was 1.41 billion yuan, up 196% year-on-year. And it expected the second quarter vehicle deliveries to be 76,000-81,000 units, up 164.9-182.4% year-on-year.