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Thursday, September 23, 2021

Here is why Li Auto (LI) facing negativity since Tuesday’s evening

Li Auto Inc.(LI) going down in Wednesday’s pre-market on April 7, 2021. As of this writing, it has lost 3.45% in the pre-market. Li Auto Inc. (LI) shares gained 2.37% to close yesterday’s session at $25.53. but it lost  4% in the extended session Tuesday after the company made some announcement.


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Let’s have a look at the latest developments

LI offering convertible senior notes

On April 06, 2021,  LiAuto lost   4% in the extended session when it announced its plan to offer up to $750 million in aggregate principal amount of convertible senior notes which will mature on May 1, 2028. Investors may get a 13-day option to purchase up to an additional US$112.5 million aggregate principal amount of the Notes. The net proceeds from the offering will be sued for the development of new vehicle models and leading technologies

Vehicle delivery update

Li auto provided an update on April 2, 2021, about its product delivery. Li Auto delivered 4,900 vehicles in March 2021 up 239%, with Q1 deliveries up 333% to 12,579. the Company had 65 retail stores in 49 cities, and 135 servicing centres as of March 31, 2021. To cater for the high demand for the upcoming new model launches in 2022, the company is planning to expand its sales and servicing network.

Recent financial results

On February 25, 2021, Li Auto announced its unaudited financial results for the fourth quarter and the full-year ended December 31, 2020.

Q4 2020 financial highlights

  • Li auto-generated $635.5 million of revenue in the fourth quarter of 2020, representing a 65.2% increase from the 3Q 2020.
  • For Q4 2020, the cost of sales was $524.5 million.
  • Gross profit was $111.0 million for the reported quarter.
  • The gross margin was 17.5% in the fourth quarter of 2020.
  • For the fourth quarter of 2020, total operating expenses were $123.1 million in the fourth quarter of 2020.
  • Li Auto spent $57.3 million  in Research and development expenses in Q4 2020
  • Selling, general and administrative expenses were $65.8 million in the fourth quarter of 2020.
  • Li Auto suffered a loss of $12.1 million from operations in the fourth quarter of 2020.
  • Net income was $16.5 million and Basic and diluted net income per AD was $0.02 in the fourth quarter of 2020
  • As of December 31, 2020, Li Auto had cash and cash equivalents of $4.58 billion

Financial highlights for FY 2020

  • For the FY 020 total revenue was $1.45 billion
  • The cost of sales was $1.21 billion in 2020
  • Gross profit was $237.4 million whereas gross margin was 16.4% in 2020.
  • The total operating expenses for the FY 2020 were $340.1 million.
  • Research and development expenses were $168.6 million whereas Selling, general and administrative expenses were $171.5 million in 2020
  • Li Auto suffered a loss of $102.6 million from operations in 2020
  • Li Auto net loss for 2020 was $23.2 million and the Non-GAAP net loss was $43.1 million.

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