Li Auto Remains A Rare EV Maker With A Profit Despite Setbacks
Li Auto Remains A Rare EV Maker With A Profit Despite Setbacks
On Wednesday, a prominent EV player, Li Auto (NASDAQ:LI), issued better-than-expected the second quarter report. However, even though the price war Tesla Inc (NASDAQ:TSLA) initiated a while is eating up margins, Li Auto and BYD (OTC:BYDDY) remain the only profitable Chinese EV makers. Also, Li Auto regained its leading position in Chinese new energy SUV sales, having surpassed Tesla in July when it comes to unit sales.
上週三，一家知名的新能源汽車製造商理想汽車（NASDAQ:LI）發佈了超出預期的第二季度報告。然而，儘管特斯拉（NASDAQ:TSLA）發起了一場價格戰，不斷侵蝕着利潤空間，但理想汽車和比亞迪（OTC:BYDDY）仍然是中國唯一盈利的新能源汽車製造商。此外，理想汽車在中國新能源SUV銷量中重新奪回領先地位，在7月份的銷量上超過了特斯拉。
Despite thinned margins, Li Auto and BYD are still profitable.
儘管利潤空間有所收窄，但理想汽車和比亞迪仍然是盈利的。
BYD, the world's largest EV maker, reported earnings of 9.1 billion yuan, which is about $1.28 billion, for its second quarter that ended in June. In other words, BYD reported its earnings almost doubled from the prior, fiscal first, quarter and rose 32.8% compared to last year's comparable quarter, while delivering a record 986,720 pure electric and plug-in hybrid cars across the globe.
全球最大的新能源汽車製造商比亞迪報告了市值爲910億元的第二財季度業績，約合128億元。換句話說，比亞迪報告了其淨利潤幾乎從上一個財季翻倍，並且與去年同期相比增長了32.8％，同時交付了創紀錄的986,720輛純電動和插電混動汽車。
Li Auto's Second Quarter Highlights
理想汽車第二季度亮點
For the quarter ended on June 30th, Li Auto reported vehicle deliveries grew 25.5% YoY.
截至6月30日，理想汽車的汽車交付量同比增長25.5%。
Net income experienced a significant year-over-year decline of 52.3% as it halved to 1.10 billion yuan, which is about $154.4 million. On the other hand, sales only grew about 10% YoY to about $4.4 billion but still surpassing Wall Street's estimate of $4.31 billion. But operating expenses increased by 23.9% YoY and gross margin, slipped to 19.5%, down from 21.8% reported during last year's comparable quarter.
淨利潤大幅下降52.3%，降至11億元人民幣，約合1544萬美元。另一方面，銷售額同比增長約10%，達到約44億元，但仍超過華爾街預估的43.1億美元。但營業費用同比增加23.9%，毛利率從去年同期的21.8%下降至19.5%。
Solid guidance despite a persistently challenging EV environment.
儘管電動汽車市場環境持續嚴峻，但理想汽車仍提供穩定的指導。
For the third quarter, Li Auto guided for deliveries in the range between 45,000 and 155,000 vehicles, which would represent a YoY increase between 38.0% and 47.5% with sales coming in between $5.4 billion and $5.8 billion, representing YoY growth from 13.7% to 21.6%.
對於第三季度，理想汽車預計交付的車輛數量在45,000至155,000輛之間，這將代表38.0%至47.5%的年同比增長，銷售額將在54億元至58億元之間，年同比增長13.7%至21.6%。
Despite intense competition from BYD, Tesla and others, Li Auto turned the setbacks into a comeback.
儘管受到比亞迪、特斯拉和其他競爭對手的激烈競爭，理想汽車將挫折轉化爲了一次回歸。
Li Auto's second-quarter earnings call painted a picture of a company that is not only navigating the competitive electric vehicle market successfully with BYD's dominance taking a toll on smaller EV rivals, but is also making strategic moves to ensure its continued growth as well as leadership when it comes to the higher-end NEV market. Therefore, Li Auto did more than just demonstrate its resilience, standing proudly next to BYD and Tesla. Second quarter profit did slump with slower sales growth and thinned margins, but Li Auto remains among the handful of profitable EV makers.
理想汽車的第二季度業績會描繪了一幅圖景，顯示該公司不僅在BYD的主導下成功應對競爭激烈的電動汽車市場，而且還在戰略上確保了其持續增長以及在高端新能源汽車市場的領導地位。因此，理想汽車不僅展現了其韌性，而且與比亞迪和特斯拉自豪地並立。儘管第二季度利潤因銷售增長放緩和利潤率降低而下滑，但理想汽車仍屬於少數盈利的電動汽車製造商之一。
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