Li Auto to report Q2 2024 earnings on Aug 28

Li Auto delivered 108,581 vehicles in the second quarter, within the guidance range of between 105,000 and 110,000 vehicles. Li Auto (NASDAQ: LI) will report unaudited financial results for the second quarter of 2024 before the US markets open on Wednesday, August 28, the company announced today. Already released figures show that Li Auto delivered 108,581 vehicles in the second quarter, which is within the guidance range of between 105,000 and 110,000 vehicles. Deliveries for the quarter were up 25.48 percent year-on-year and up 35.05 percent from the first quarter. Li Auto previously guided second quarter revenue to be in the range of RMB 29.9 billion ($4.2 billion) to RMB 31.4 billion, an increase of 4.2 percent to 9.4 percent year-on-year. Li Auto's current product lineup includes the Li L6, Li L7, Li L8, Li L9, and Li Mega, with the L series being EREVs and the Mega being its first battery electric vehicle (BEV) model. Li Auto had a very low profile in the second quarter, announcing very little business progress after the weak performance of the Li Mega, which was launched on March 1. The company had planned to release three all-electric SUV models in the second half of 2024, but announced on its last earnings call on May 20 that its new all-electric SUV models will be released in the first half of next year. Li Auto's monthly deliveries began to rebound after dropping to a near one-year low of 20,251 vehicles in February, with 25,787, 35,020, and 47,774 vehicles delivered in April through June. In July, Li Auto delivered a record 51,000 vehicles, up 49.41 percent year-on-year and up 6.75 percent from June. Li Auto's management will hold an earnings call on August 28 at 8:00 am US Eastern Time or 8:00 pm Beijing Time on the same day. Li Auto's local peer Xpeng (NYSE: XPEV) will report its unaudited financial results for the second quarter on August 20 before the US markets open, and Zeekr (NYSE: ZK) on August 21. Nio (NYSE: NIO) has yet to release its second-quarter earnings release date. ($1 = RMB 7.1590) Li Auto plans to open its 1st overseas after-sales service store in Kazakhstan this month, report says