Li Auto Financial Report: In 2022, Li Auto delivered a total of 133,246 vehicles with a gross profit of 19.1%

What kind of financial report did Ideal Auto, the most powerful car in 2022, hand in? The total annual revenue was 45.29 billion , the gross profit was 8.79 billion , the total delivery was 133,246 vehicles , and the gross profit of vehicles reached 19.1% . Roughly estimated, Ideal can make 6,322 yuan by selling a car. In addition, Ideal's R&D investment was 6.78 billion , more than doubled, but as a result, the overall net loss in 2022 was 2.03 billion.

In the future, Ideal will continue to expand its market share of 300,000-500,000 SUVs.

And according to the information revealed in the conference call, Ideal is preparing to launch a pure electric vehicle .

According to previous exposure, it may be an MPV model.

Ideal Auto’s annual performance in 2022?

Overall, Ideal Auto's total annual revenue was 45.29 billion yuan, a year-on-year increase of 67.7% ; the annual delivery volume reached 133,246 vehicles, a year-on-year increase of 47.2% .

But it still did not turn positive, with a net loss of 2.03 billion in 2022, an increase of 534% year-on-year .

However, due to the increase in car deliveries, the company's automobile sales revenue in 2022 was 44.11 billion, a year-on-year increase of 68.8% .

With the recent launch of Ideal L7, Ideal Auto's current product prices cover the range of 300,000 to 500,000 yuan.

At present, Ideal's goal is to expand its market share in this price range. Li Xiang said that he would challenge the 20% market share of 300,000-500,000 yuan luxury SUVs in 2023. In 2022, Ideal Auto's share of this market was 9.5%.

Therefore, Ideal has set a target of 52,000 to 55,000 deliveries in the first quarter of this year, a year-on-year increase of approximately 64% to 73.4%; and total revenue in the first quarter reached 17.45 billion to 18.45 billion yuan, a year-on-year increase of 82.5% to 93%.

After looking into the future, let’s take a look at how Ideal Auto will perform in 2022.

Ideal 2022 fourth quarter financial report

Ideal's overall performance in 2022 has a lot to do with the company's rapid growth in all aspects in the fourth quarter.

In terms of deliveries, Ideal delivered 46,319 vehicles in the fourth quarter, a year-on-year increase of 74.6% , accounting for approximately 34.8% of the annual deliveries.

As a result, Ideal's automobile sales revenue in the fourth quarter was 17.27 billion yuan , a year-on-year increase of 66.4% and a month-on-month increase of 90.8%.

In addition, Ideal has been increasing its R&D investment, with annual R&D investment of 6.78 billion yuan in 2022, a year-on-year increase of 106.3% .

In addition, as Ideal continues to expand and upgrade its sales network, the company spent 5.67 billion yuan on sales and management in 2022, a year-on-year increase of 62.2%.

As of December 31, 2022, Ideal has 288 retail stores in 121 cities across the country and 318 service centers and authorized stores in 223 cities.

However, Ideal's overall gross profit margin in 2022 was 19.4%, a year-on-year decrease of 1.9%; the automobile gross profit margin was 19.1%, a year-on-year decrease of about 1.5%, which was mainly related to the inventory and procurement commitment losses of Ideal ONE.

However, it can be estimated that Ideal can make about 6,322 yuan by selling a car.

Currently, Ideal Auto’s total assets are 86.54 billion yuan , and the company has 38.48 billion yuan in cash and cash equivalents.

Pure electric models are coming soon

During the conference call, Li Xiang also revealed some information.

For example, the company's batteries will continue to maintain a multi-supplier strategy and will seek better terms with suppliers.

For reference, CATL is offering "battery subsidies" to domestic automakers, among which Ideal Auto is exposed. As for Ideal, CATL, Sunwoda and Honeycomb Energy are all its battery suppliers.

Regarding the new product (possibly Ideal L5 or L6), Li Xiang mentioned that the Qualcomm 8295 chip will be released this year, and the company hopes to meet the development cycle so that the product can be adapted and carry the latest chip when it is launched.

In other words, Ideal Auto’s new product launch will probably have to wait until Qualcomm 8295 is released.

However, Li Xiang mentioned that Ideal will launch pure electric products in the future, which will cover different price ranges of 200,000 to 500,000 yuan, just like the existing L series.

Ideal Auto has previously invested a lot of money in 800V high-voltage architecture and internal silicon carbide factory , which is likely to be used in Ideal's pure electric models.

Li Xiang also guaranteed that Ideal Auto's electric vehicle products will be similar to similar products on the market, but will have a differentiated experience that will far exceed user expectations.

800V architecture, silicon carbide chip, are you looking forward to the ideal pure electric vehicle?

Self-Qubit