Li Auto profit narrows to 8 billion yuan

Chinese automaker Li Auto (2015) posted on Friday a net profit of 8.03 billion yuan (HK$8.62 billion) last year, down 31.3 percent from a year earlier, as a lower average selling price weighed on earnings.

Revenue was 144.5 billion yuan in 2024, up 16.6 percent compared to 123.9 billion yuan in 2023, of which vehicle sales revenue accounted for 138.5 billion yuan, a 15.2 percent increase from the previous year.

Annual deliveries of Li Auto vehicles reached 500,508, a year-over-year increase of 33.1 percent, bringing cumulative deliveries to 1.13 million vehicles as of December 31, 2024.

Looking ahead, the company said it will launch new battery electric sport utility vehicle models and refresh the existing model lineup, according to a statement with the stock exchange.

STAFF REPORTER