理想汽车发布2023年第三季度财务业绩（英文版）

LiAutoInc.AnnouncesUnauditedThirdQuarter2023FinancialRQuarterlytotalrevenuesreachedRMB34.68billion(US$4.75binewenergyvehiclemarket,todayannounceditsunauditedfinancialresultsforthequarterendedSeptember30,2023.OperatingHighlightsfortheThird•Totalvehicledeliverieswere105,108unitsinthethirdquarterof2023,representinga296.3%year-over-yearincrease.DeliveriesDeliveries•AsofSeptember30,2023,theCompanyhad361authorizedbodyandpaintshopsoperatingFinancialHighlightsfortheThirdQ•VehiclesaleswereRMB33.62billion(US$4.61billion)inthethirdquarterof2023,representinganincreaseof271.6%fromRMB9.05billioninthethirdquarterof2022andanincreaseof20.2%fromRMB27.97billioninthesecondquarterof2023.•Vehiclemargin2was21.2%inthethirdquarterof2023,comparedwith12.0%inthethirdquarterof202secondquarterof2023.•TotalrevenueswereRMB34.68billion(US$4.75billion)inthethirdquarterof2023,representinganincreaseof271RMB9.34billioninthethirdquarterof2022andanincreaseof21.0%fromRMB28.65billioninthesecondquarterof2023.•GrossprofitwasRMB7.64billion(US$1.05billion)inthethirdquarterof2023,representinganincreaseof546.7%fromRMB1.18billioninthethirdquarterof2022andanincreaseof22.6%fromRMB6.24billioninthesecondquarterof2023.secondquarterof2023.1AlltranslationsfromRenminbi(“RMB”)toU.S.dollars(“US$”)aremadeatarateofRrateonSeptember29,2023assetforthintheH.10statisticalreleaseoftheFederalReserveBoard.2Vehiclemarginisthemarginofvehiclesales,whichiscalculatedbasedonrevenuesandcostofsalesderivedfromvehiclesales1•IncomefromoperationswasRMB2.34billion(US$320.6million)inthethirdquarterof2023,comparedwithRMB2.13billionlossfromoperationsinthethirdquarterof2022andrepresentinganincreaseof43.9%fromRMB1inthethirdquarterof2023,comparedwithRMB1.72billionnon-GAAPlossfromoperationsinthethirdquarterof2022andrepresentinganincreaseof46.5%fromRMB2.04billionnon-GAAPincomefromoperationsinthesecondquarterof20•NetincomewasRMB2.81billion(US$385.5million)inthethirdquarterof2023,comparedwithRMB1.65billionnetlossinthethirdquarterof2022andrepresentinganincreaseof21.8%fromRMB2.31billbillionnon-GAAPnetlonetincomeinthesecondquarterof2023.•NetcashprovidedbyoperatingactivitieswasRMB14.51billion(US$1.99billion)inthethirdquarterof2023,comparedwithRMB508.3millionnetcashusedinoperatingactivitiesinthethirdquarterof2022andrepresentingfromRMB11.11billionnetcashprovidedbyoperatingactivitiesinthesecondquarterof2023.•Freecashflow4wasRMB13.22billion(US$1.81billion)inthethirdquarterof2023,comparedwithnegativeRfreecashflowinthethirdquarterof2022andrepresentinganincreaseof3secondquarterof2023.(inmillions,exceptforperc(Loss)/incomefromoperations(2,129.7)Non-GAAP(loss)/incomefromoperations(1,724.Net(loss)/incomeNon-GAAPnet(loss)/income(1,240.4)2,727.53,467.33TheCompany’snon-GAAPfinancialmeasuresexcludeshare-basedcompensationexpenses.See“UnauditedReconciliationofGAAPandNon-GAAPResults”setforthattheendofthispressrelease.4Freecashflowrepresentsoperatingcashflowlesscapitalexpenditures,whichisconsideredanon-GAAPfinancialmeasure.5Exceptforvehiclemarginandgrossmargin,whereabsolutechangesinsteadofpercentagechangesarepresented.2RecentDevelopmentsbodyandpaintshopsoper•InAugust2023,theChinaInsuranceAutomotiveSafetyIndex(“C-IASI”)ManagementCenteresultsforLiL7basedoncategories—occupanteconomycategory.Inparticular,LiL7’s99.8%scorei•InSeptember2023,theCompany’s“AA”ratingwasraisedtothehighest“AAA”ratingbyMSCIESGResearchioftheCompany’saccomplishmentsinsustainabledevelopmentandsocialresponsibility.TerminationofAt-The-MarketOffering•OnSeptember27,2023,theCompanyterminatedtheequitydistributionagreementdatedJune28,2andcertainsalesagentsinconnectionwiththeCompany’spreviouslyannouncedat-the-marketofferingprogram(theOffering”)ontheNasdaqGlobalSelectMarket,effectiveimmediatelyafterthecloseofbusineadditionalsecuritiesunderthAsofthedateofthispressrelease27,004,858ClassAordinarysharesoftheCompanyunderthebeforedeductingfeesandcommissionspayabletothesalesagentsofUS$5.4millionanddevelopmentofnext-generationelectricvehicletechnologiesincludingtechnologiesforBEVs,smartcadriving,(ii)developmentandmanufactureoffuturep3Mr.XiangLi,chairmanandchiefequarter,wecontinuedtostrengthensynergtheseefforts,weachievedanumberofbreakthroughsacrossourdeliveryperformanceduringthequarter,becomingChinaemergingnewenergyautomakertoreachthemilestoneof500,000cumulativedeliveries.EachoamongSUVsandNEVspricedoverRMB300,000inChina.Aswefurtherexpaourprofitabilityatahealthylevel,whileinvestinginresearchanddevelopmenttopropelthelong-termgrowthofourbusiness.”“Oursuperflagship5CBEVmodel,tocommenceinFebruary2024.WebelievethatthelaunchofLiMEcapability,willusherinaneweraofsuccessforLiAutointheBEVmarketand,togetherwithEREVthelarge-scaletransitionfromtraditionalICEvehicles.Atthesametime,tobetteralignwithourBEVstrategyoursuperchargingnetworkexpansiontoprovideuserswithmoreaccessibleandreliableenergyreplenishmentexperiences.”Mr.TieLi,chieffinancialofficerofLiAuto,added,“Wearepleasedtohavesustainedourgrowthmomentuminbothourtoplineandbottomlineinthethirdquarter.Drivenbyrup271.2%yearoveryemarginremainedhealthyat22.0%,whilenetincomerosetoRMB2.81andamplecashpositionwillfurthersupportourunwaveringinvestmentinrelong-termcompetitiveness.”FinancialResultsfortheThirdQu•TotalrevenueswereRMB34.68billion(US$4.75billion)inthethirdquarterof2023,representinganincreaseof2RMB9.34billioninthethirdquarterof2022andanincreaseof21.0%fromRMB28.65billioninthesecondquarterof2023.•VehiclesaleswereRMB33.62billion(US$4.61billion)inthethirdquarterof2023,representinganincreaseof271.6%fromRMB9.05billioninthethirdquarterof2022andanincreaseof20.2%fromRMB27.97billioninthesecondquarterTheincreaseinvehiclesalesoverthethirdquarterof2022andthesecondquartincreaseinvehicledeliveries.•OthersalesandserviceswereRMB1.06billion(US$145.7million)inthethirdquarterof2023,representinganincreaseof258.7%fromRMB296.4millioninthethirdquarterof2022andanincreaseof56.2%rof2023.Theincreaseinrevenuefromothersalesandservicesoverthethirdquarterof2022andthf2023wasmainlyattributabletotheincreasedsalesofaccessoriesandprovisionofseraccumulatedvehiclesales,andtheincreasedsalesofchargingstalls,whichisinlinewithhig•CostofsaleswasRMB27.03billion(US$3.71billion)inthethirdquarterof2023,representinganincreaseof231.3%fromRMB8.16billioninthethirdquarterof2022andanincreaseof20.6%fromRMB22.42billioninthesecondquarterof2023.invehicledeliverie•GrossprofitwasRMB7.64billion(US$1.05billion)inthethirdquarterof2023,representinganincreaseof546.7%fromRMB1.18billioninthethirdquarterof2022andanincreaseof22.6%fromRMB6.24billioninthesecondquarterof2023.•Vehiclemarginwas21.2%inthethirdquarterof2023,comparedwith12.secondquarterof2023.ExcludingtheimpactofinventoryprovisionandlossesonpurchasecommitmentsrelatedtoLiONEinthethirdquarterof2022,thevehiclemarginremainedstableoverthethirdquarterof2022.secondquarterof2023.Theincreaseingrossmarginoverthethirdquarterof2022wasmainlyattributabletotheincreaseof4•OperatingexpenseswereRMB5.31billion(US$727.1million)inthethirdquarterof2023,representinganincreaseof60.2%thethirdquarterof2022andanincreaseof15.1%fromRMB4.61billioninthesecondquartef•ResearchanddevelopmentexpenseswereRMB2.82billion(US$386.1million)inthethirdquarterof2023,representinganincreaseof56.1%fromRMB1.80billioninthethirdquarterof2022secondquarterof2023.Theincreaseinresearchanquarterof2023wasprimarilydrivenbyincreasedemployeecompensationasaresultofourgrowingnumberofstaffaswellasincreasedexpensestosupportourexpandingproductportfoliosandtechno•Selling,generalandadministrativeexpenserepresentinganincreaseof68.8%fromRMB1.51billioninthethirdquarterofbillioninthesecondquarterof2023.Theincreaseinsandthesecondquarterof2023wasprimarilydrivenbyincreasedemployeecompensationasaresultofourgrowingnumberofstaffaswellasincreasedrentalexpensesassociatedwiththeexpansionofoursalesandservicingnetwork.Income/(Loss)fromOpe•IncomefromoperationswasRMB2.34billion(US$320.6million)inthethirdquarterof2023,comparedwithRMB2.13billionlossfromoperationsinthethirdquarterof2022andrepresentinganincreaseof43.9%fromRMB1fromoperationsintheseinthethirdquarterof2023,comparedwithRMB1.72billionnon-GAAPlossfromoperationsinthethirdquarterof2022andrepresentinganincreaseof46.5%fromRMB2.04billionnon-GAAPincomefromoperationsinthesecondquarterof202NetIncome/(Loss)andNetEarnings/(Loss)P•NetincomewasRMB2.81billion(US$385.5million)inthethirdquarterof2023,comparedwithRMB1.65billionnetlossinf2022andrepresentinganincreaseof21.8%fromRMB2.31billf2023.Non-GAAPnetincomewasRMB3.47billionbillionnon-GAAPnetlonetincomeinthesecondquarterof2023.•BasicanddilutednetearningsperADS6attributabletoordinarysharehold(US$0.37)inthethirdquarterof2023,resattributabletoordinaryshareholdersinthethirdquarterof2022,andRMB2.34andperADSattributabletoordinaryshareholdersinthesecondquarterof2023,respectivearningsperADSattributabletoordinaryshareholders3wereRMB3.53(US$0.48)andRMB3.29(US$0.quarterof2023,respectively,comparedwithRMB1.27forbothnon-GAAPbasicanddilutednetlossperADSattributabletoordinaryshareholdersinthethirdquarterof2022,andRMB2.76andRMB2.58non-GAAPbasicanddilutednetearningsperADSattributabletoordinaryshareholdersinthesecondquarterof2023,respectively.CashPosition,OperatingCas•Cashposition7wasRMB88.52billion(US$12.13billion)asofSeptember30,2023.•NetcashprovidedbyoperatingactivitieswasRMB14.51billion(US$1.99billion)inthethirdquarterof2023,comparedwithRMB508.3millionnetcashusedinoperatingactivitiesinthethirdquarterof2022andrepresentingfromRMB11.11billionnetcashprovidedbyoperatingactivitiesinthesecondquarterof2023.•FreecashflowwasRMB13.22billion(US$1.81billion)inthethirdquarterof2023,freecashflowinthethirdquarterof2022andrepresentinganincreaseof3secondquarterof2023.6EachADSrepresentstwoClassAordinaryshar7Cashpositionincludescashandcashequivalents,restrictedcash,timedepositsandshort-terminvestments,andlong-termdepositsincludedinlong-terminvestments.5Forthefourthquarterof2023,theCompanyexpects:•Deliveriesofvehiclestobebetween125,000anfourthquarterof2022.•TotalrevenuestobebetweenRMB38.46billion(US$5.27billion)andRMB39.38billion(US$5.40billion),representinincreaseof117.9%ThisbusinessoutlookreflectstheCompany’scurrentandpreliminaryManagementwillholdaconferencecallat7:00a.m.U.S.EasKongTimeonNovember9,2023)todiscussfinForparticipantswhowishtojointhecall,pleasecompleteonlineregistrationusingthelinkprovidedbelowpriortothescallstarttime.Uponregistration,participantswillreceivethpasscode,andauniqueaccessPIN.Tojointheconference,pleasedialthenumberprovided,enterthepasscodefollowedbyyourPIN,andyouwilljointheconferenceinstantly.ParticipantOnlineRegistration:/diamondpass/10034368-573os2.htmlAreplayoftheconferencecallwillbeaccessiblethroughNovember16,2023,bydialingHongKong,China:+852-800-930-639International:+61-7-3107-6325Additionally,aliveandarchivedwebcastoftheconferencecallwillbeav6Non-GAAPFinancialMeGAAPnetincome/lossattributabletoordinaryshareholders,ordinaryshareholders,non-GAAPbasicanddilutednetearnings/losspershareaflow,inevaluatingitsoperatingresultsandforfinancshare-basedcompensationexpenses,theCompanybelievesthatthenon-GAAPfinancialmeasureshelpidentifyinitsbusinessandenhancetheoverallunderstandingoftheCompany’spastperformanceandfutureprospects.TheCompanyalsobelievesthatthenon-GAAPfinancialmeasuresallowfomanagementinitsfinancialandoperationaldecision-making.Thenon-GAAPfinancialmeasuresarenotpresentediofaccountingandreportingusedbyothercompanies.Thenon-GAAPfinancialmeasureshavelimitatiorotherconsolidatedstatementsofcomprehensivelossdataprinvestorsandotherstoreviewitsfinancTheCompanymitigatestheselimitationsbyreconciperformancemeasures,allofwhichshouldbeconsideredwhenevaluatingtheCompany’sperformance.Formoreinformationonthenon-GAAPfinancialmeasurandNon-GAAPResults”setforthattheendofthispressrelease.ExchangeRateInformatThispressreleasecontainstranslationsofcertainRenminbiamountsintoU.S.dollarsofthereader.Unlessotherwisenoted,alltranslationsfromRenminbitoU.S.dollarsandfrarateofRMB7.2960toUS$1.00,theexchangerateonSeptember29,2023,setforthintheH.10statisticalreleReserveBoard.TheCompanymakesnorepresentationthattheRenminbiorU.S.dollarsamountsrefU.S.dollarsorRenminbi,asthecasemaybe,atanyparticularrateoratall.LiAutoInc.isaleaderinChina’snewenergyvehiclemarket.smartelectricvehicles.Itsmissionis:CreateaMobileHome,CreateHappiness(创造移动的家,创造幸福的家).Throughinnovationsinproduct,technology,andbusinessmoproductsandservices.LiAutoisapioneertosuccessfustartedvolumeproductioninNovember2019.ItscurrentmoseatpremiumfamilySUV,andLiusers.Itconcentratesitsin-housedevelopmenteffortsonitsproprietaryrangeextensionsystem,next-generationelectechnology,andsmartvehiclesolutionswhileexpandingitspruserbase.Formoreinformation,pleasevisit:http://ir.lix7Thispressreleasecontainsstatementsthatmayconstitute“forward-looking”statementspursuanttothe“saftheU.S.PrivateSecuritiesLitigationReformActof1995.Theseforwaas“will,”“expects,”“anticipates,”“aims,”“future,”“intends,”“plans,”“belieandsimilarstatements.LiAreporttoshareholders,inpresemployeestothirdparties.Statementsthatarenothistoricexpectations,areforward-lookingstatements.Forward-lookingstatemfactorscouldcauseactualresultstodilimitedtothefollowing:LiAuto’sstrategies,futurebusinessAuto’slimitedoperatinghistory;risksassociatedwithextended-rangeelectricvehicles;LiAuto’sabilitytodevelop,manddelivervehiclesofhighqualityandappealtocustomers;LiAuto’sabilitytogeneratepositivdefectsoranyotherfailureofvehiclestoperformasexpected;LiAuto’sabilitytocompetesitsbrandandwithstandnegativepublicity;cancellationofordersforLiAuto’svehicles;LiAuto’sabilitytodevelregardingtheseandotherrisksisincludedinLiAuto’sfilingswiththeSECreleaseisasofthedateofthispresexceptasrequiredunderapplicablelaw.Forinvestorandmediainquiries,pleasecontPiacenteFinancialCommunicatio8UnauditedCondensedConsolidatedStatementsofComprehensive((Allamountsinthousands,exceptforADS/ordina FortheThreeMonthsEndeSeptember30,2022June30,2023September30,RMBRMBRMBVehiclesales(7,962,903)(22,084,087) OthersalesandservicesGrossprofitGrossprofit Researchanddevelopment(1,804Selling,generalandadministrative(1,507,3 Otheroperatingincome,Totaloperatingexpenses(3,311,697)(4,609,408)(Loss)/IncomefromopOther(expense)/incoInterestincomeandinvestmen(Loss)/IncomebeforeIncometaxbenefit/(Less:Net(loss)/incomeattributabletononcontrollinNet(loss)/incomeattributabletoordinaryshareholdersofLiOthercomprehensiveincoOthercomprehensiveincoForeigncurrencytranslationadjustment,netoftax312,572(120,809)Totalothercomprehensiveincome/(loss)Totalothercomprehensiveincome/(loss)312,572(120,809)Totalcomprehensive(loss)Less:Net(loss)/incomeattributabletononcontrollinginterestsLess:Net(loss)/incomeattributabletononcontrollinginterests(5,4Comprehensive(loss)/incomeattributabletoorshareholdersofLiAutWeightedWeightedaveragenumberofADSs DilutedNet(loss)/earningsperADSattributabletoordiWeightedaveragenumberofordinarysharesWeightedaveragenumberofordinaryshares DilutedNet(loss)/earningspershareattributabletoordin 9UnauditedCondensedConsolidatedBalan(Allamountsinthou December31,2022September30,2023SeptembeRMBRMBTimedepositsandshort-terminPrepaymentsandotherProperty,plantandequipment,Operatingleaseright-of-usea— AmountsduetorelatedpaDeferredrevenue,currOperatingleaseliabiliAccrualsandothercurrentliTotalcurrentliabilitNon-currentliabilities:Long-termborrowingsDeferredrevenue,non-currentOperatingleaseliabilities,nonDeferredtaxliabilitOthernon-currentliabilitiTotalnon-currentliabiliTotalLiAutoInc.sNoncontrollinginterestsTotalliabilitiesandshareh UnauditedCondensedConsolidatedS(AllamountsinthouFortheThreeMonthsRMBRMBNetcash(usedin)/providedbyoperatingNetcashprovidedby/(usedin)investingactivitiesNetcashprovidedby/(usedin)financingactivitiesEffectofexchangeratechangesNetchangeincash,caNetchangeincash,caCash,cashequivalentsandrestrictedcashatbeginningofperiod Cash,cashequivaleCash,cashequivale Netcash(usedin)/providedbyoperaCapitalexpenditures(1,450,310Freecashflow(non-GAAP)