Li Auto's second quarter financial report shows solid performance, but below expectations

Li Auto showed solid performance in its second quarter 2024 financial report, but it failed to meet expectations. The company's revenue reached 31.7 billion yuan, a record high for the same period, a year-on-year increase of 10.6%. In the second quarter, Li Auto delivered a total of 108,581 new vehicles, a year-on-year increase of 25.5%. However, the revenue increase was relatively small because the L6 model priced at 249,800-279,800 yuan accounted for nearly half of the market share. The adjusted net profit attributable to shareholders was 1.50 billion yuan, a year-on-year decrease of 44.9%.