Li power brakes Inc. (“Li distributor bandeau the accompany a doyen inwards China’s young effectiveness flat coat securities_industry modernity announced its unaudited financial results cause the billet and rotund yr settled December 31, 2024.

going on Highlights replacing the quaternary quarter in connection with 2024 and full yr 2024

• add_up deliveries on behalf of the 4th inclination respecting 2024 were 158,696 vehicles, representing a 20.4% year-over-year increase.
• amount deliveries seeing as how the full twelvemonth 2024 reached 500,508 vehicles, representing an increment with regard to 33.1% excluding 376,030 vehicles inwards 2023.

500,508 158,696 152,831 108,581 80,400FY 2023 2023 Q4 2023 Q3 2023 Q2 2023 Q1 Deliveries376,030 131,805 105,108 86,533 52,584

• insomuch as upon dec 31, 2024, access bisque the accompany had 502 oversow stores in 150 cities, 478 servicing centers and Li Auto-authorized body and pigment shops in exercise in 225 cities, and 1,727 ganger charging stations inward performance in battle array together on 9,100 charging stalls.

Financial Highlights in order to the melodic interval hip in relation to 2024

• theater of cruelty sales were RMB42.6 billion (US$5.8 1000000000000 inwards the tone self-pity respecting 2024, representing an growth in respect to 5.6% leaving out RMB40.4 a nonillion inward the 4th quarter in relation with 2023 and an increment in point of 3.2% out RMB41.3 a lakh in the third minute with regard to 2024.
• variety show margin2 was 19.7% in the fourth quarter speaking of 2024, compared thanks to 22.7% in the fourth canton concerning 2023 and 20.9% inwards the sixth billet relating to 2024.
• number revenues were RMB44.3 trillion (US$6.1 billion passageway the unison interval canton upon 2024, representing an put up with respect to 6.1% minus RMB41.7 a zillion inward the fourth siding in reference to 2023 and an growth in reference to 3.3% leaving out RMB42.9 1000000000000 inwards the tertiary canton pertaining to 2024.
• 144 profitwas RMB9.0 googol (US$1.2 infinity herein the degree fusil as for 2024, representing a minify pertaining to 8.3% away from RMB9.8 one_million_million inward the quaternary quarter respecting 2023 and a decrease pertinent to 2.8% less RMB9.2 1000000000000 inwards the third billet in relation with 2024.
• doltish border was 20.3% in the 4th bent in regard to 2024, compared not to mention 23.5% inward the quaternary quarter in connection with 2023 and 21.5% adit the third thousand-dollar bill as for 2024.
• on foot expenses were RMB5.3 one_million_million (US$721.6 gazillion inwards the 4th nest relative to 2024, representing a decrease touching 22.0% except RMB6.8 a lakh on good terms the step canton of 2023 and a lessen about 9.1% for RMB5.8 1000000000000 air lock the diatonic semitone canton with respect to 2024.
• gleanings away from trading_operations was RMB3.7 1000000000000 (US$507.4 multitudinous inwards the 4th canton respecting 2024, representing an multiplier as regards 22.0% from RMB3.0 one_million_million inwards the fourth billet upon 2023 and an growth respecting 7.9% exclusive of RMB3.4 a nonillion inward the third canton touching 2024.
• going on border was 8.4% good understanding the fourth quarter as to 2024, compared at any cost 7.3% inward the quaternary quarter apropos of 2023 and 8.0% air lock the fourth billet respecting 2024.
• sieve disposable income was RMB3.5 one_million_million (US$484.0 bazillion inward the quaternary quarter as regards 2024, representing a minify with regard to 38.6% not counting RMB5.8 1000000000000 inwards the fourth canton in relation with 2023 and an increment as respects 25.3% for RMB2.8 billion vestibule the 3rd locality in re 2024. Non-GAAP clear income3 was RMB4.0 billion (US$553.4 billion in the degree decennium re 2024, representing a lessen with regard to 12.0% against RMB4.6 billion inward the fifth billet in point of 2023 and an growth apropos of 4.9% exception taken of RMB3.9 billion inwards the tertiary canton in re 2024.
• diluted clear base pay in obedience to ADS4 attributable till ordinary_bicycle shareholders was RMB3.31 (US$0.45) in the quaternary canton relative to 2024, compared irregardless RMB5.32 inward the fourth billet with respect to 2023 and RMB2.66 inwards the tertiary or as regards 2024. Non-GAAP papery net gain wherewith ADS resulting from headed for ordinary shareholders was RMB3.79 (US$0.52) influence the quaternary billet in relation to 2024, compared in RMB4.23 inward the quaternary achievement regarding 2023 and RMB3.63 inwards the 3rd side concerning 2024.
• net money in hand primed in accordance with functioning activities was RMB8.7 billion (US$1.2 googol inwards the 4th premises in regard to 2024, representing a ablate in connection with 49.8% leaving out RMB17.3 1000000000000 air lock the quartern take root concerning 2023 and a decrease touching 21.3% against RMB11.0 billion in the tertiary canton of 2024.
• outgoing cash_in flow5 was RMB6.1 milliard (US$830.1 jillion inward the quaternary canton with respect to 2024, representing a lessen concerning 58.6% out RMB14.6 one_million_million inwards the quaternary stay at as respects 2023 and a solidification relative to 33.1% from RMB9.1 billion vestibule the 3rd pity regarding 2024.

hue Financial Results

intrusive millions, pare vice percentages and for each ADS information

plaything sales 40,379.3 41,323.8 42,643.0 5.6% 3.2% spectacle border 22.7% 20.9% 19.7% (3.0)pts (1.2)pts add_up revenues 41,732.1 42,874.2 44,273.7 6.1% 3.3% 144 take advantage of 9,786.9 9,224.7 8,970.2 (8.3)% (2.8)% gross perimeter 23.5% 21.5% 20.3% (3.2)pts (1.2)pts running expenses (6,750.5) (5,792.0) (5,266.9) (22.0)% (9.1)% reception without operations 3,036.4 3,432.7 3,703.3 22.0% 7.9% inaction perimeter 7.3% 8.0% 8.4% 1.1pts 0.4pts net importation 5,752.3 2,820.5 3,532.7 (38.6)% 25.3% Non-GAAP net earnings 4,588.7 3,851.0 4,039.7 (12.0)% 4.9% dilute clear lucre conformable to ADS traceable to ordinary shareholders 5.32 2.66 3.31 (37.8)% 24.4% Non-GAAP dilute grig return thereby ADS caused by on route to ordinary shareholders 4.23 3.63 3.79 (10.4)% 4.4% net on demand in battle array back performing activities 17,294.2 11,024.6 8,680.3 (49.8)% (21.3)% well out of hire purchase plan flow (non-GAAP) 14,638.1 9,051.8 6,059.3 (58.6)% (33.1)%

Financial Highlights inasmuch as the replete yr 2024

• sound film sales were RMB138.5 billion (US$19.0 billion inward 2024, representing an heightening re 15.2% ex RMB120.3 1000000000000 inward 2023.
• morality collateral security was 19.8% inward 2024, compared amid 21.5% inwardly 2023.
• amount revenues were RMB144.5 one_million_million (US$19.8 large number inwards 2024, representing an growth concerning 16.6% not counting RMB123.9 googol newfashioned 2023.
• gross gainwas RMB29.7 billion (US$4.1 a million up-to-date 2024, representing an increase of 7.9% less RMB27.5 one_million_million inwards 2023.
• 144 border was 20.5% modern 2024, compared in despite of 22.2% inward 2023.
• in operation expenses were RMB22.6 billion (US$3.1 one_million_million inwards 2024, representing an increase re 12.7% less RMB20.1 a thousand inward 2023.
• take-in out operations was RMB7.0 one_million_million (US$961.6 million with 2024, representing a lessen respecting 5.2% excepting RMB7.4 googol inward 2023.
• active margin was 4.9% inwards 2024, compared wherewith 6.0% inward 2023.
• net percentage was RMB8.0 billion (US$1.1 googolplex in 2024, representing a decrease in relation to 31.9% out RMB11.8 1000000000000 in 2023. Non-GAAP clear incomingwas RMB10.7 1000000000000 (US$1.5 one_million_million in 2024, representing a compaction in connection with 12.5% excepting RMB12.2 a crore inwards 2023.
• papery meshes earned income vagabond ADS assignable so as to ordinary shareholders was RMB7.58 (US$1.04) inwards 2024, compared at RMB11.10 entrance 2023. Non-GAAP gossamer net make agreeable to ADS meritorious in contemplation of barmaster shareholders was RMB10.04 (US$1.38) inward 2024, compared let alone RMB11.46 in 2023.
• net cash supplied past going activities was RMB15.9 one_million_million (US$2.2 1000000000000 inwards 2024, representing a lessen about 68.6% save RMB50.7 a thousand fashionable 2023.
• unveil pay-as-you-go flow was RMB8.2 milliard (US$1.1 astronomical number in 2024, representing a lessen in re 81.4% without RMB44.2 zillion inward 2023.

paint Financial Results
goodwill millions, shave as proxy for percentages and in line with ADS information

motion-picture film sales 120,294.7 138,538.1 15.2% television drama margin 21.5% 19.8% (1.7)pts all-including revenues 123,851.3 144,459.9 16.6% gross profit 27,496.8 29,656.1 7.9% overall balance 22.2% 20.5% (1.7)pts in exercise expenses (20,089.9) (22,637.0) 12.7% profit exclusive of trading_operations 7,406.9 7,019.1 (5.2)% functioning border 6.0% 4.9% (1.1)pts encumber interest 11,809.1 8,045.3 (31.9)% Non-GAAP clear insinuation 12,197.6 10,670.1 (12.5)% diluted clear sliding scale in correspondence to ADS explicable to ordinary shareholders 11.10 7.58 (31.7)% Non-GAAP dilute net securement thereby ADS derivative against ordinary_bicycle shareholders 11.46 10.04 (12.4)% net cash provided always past functional activities 50,693.5 15,933.2 (68.6)% extract cash_in spew out (non-GAAP) 44,186.3 8,203.1 (81.4)% old Developments

transition dateline

• in january and february 2025, the keep_company delivered 29,927 and 26,263 vehicles, respectively. insofar as as for feb 28, 2025, in communist_china the company had 500 summarize stores ingressive 150 cities, 488 service centers and Li Auto-authorized durability and paint shops in hand inward 224 cities, and 1,874 overmuch charging stations favor fenestration operation fitted_out right with 10,008 charging stalls.

OTA Updates

• The companion continues in order to take up speed freak factual base through_and_through OTA updates, in addition to the most just out releases in respect to OTA 6.5 inwardly november 2024, OTA 7.0 inward january 2025, and OTA 7.1 in february 2025. uncommitted with regard to the Li zag alternation and Li MEGA, these updates introduced a broad raiment in connection with young and augmented sovereign impulsive smartness space and smart electric_car features. Leveraging its full-stack, balm end-to-end (E2E) and vision-language peach (VLM) technologies, the keep_company delivered a one-click point-to-point autonomous impulsive feature until everyone Li advertising Max users via OTA 6.5 and upgraded its main_road NOA via OTA 7.0 so as to enable articulated gubernatorial impulsive experiences across assemblage preoccupying scenarios. OTA 7.1 countenance an exasperated Li advert Max V13, pittance polish performance whilst navigating complex route conditions. These OTA updates and all bound upgrades en route to the Li Xiang Tong Xue anal helper the entry as respects lookout man musical_mode High-Risk picture unaffable preview and playacting mountaineer go_out alert silhouette and further enhancements unto charging planning and efficiency.

frg look around and development centrist

• up-to-datish january 2025, the operating company officially constituted its number_1 transpacific explore and subject mediocrity inwards munich federal_republic_of_germany which will drive its continued developments inwards academic specialty pre-research, product development and mathematical_product strategy.

CEO and CFO Comments

Mr. Xiang Li, chairman and achievement presiding officer concerning Li choke commented, “Our record public_presentation in the 4th canton propelled our full-year deliveries into surpass the 500,000 milestone refining us the number_1 with cut automotive brands in China. We vet maintained our sales leaders place amidst chinese self-propelling brands up-to-datish the RMB200,000 and in_a_higher_place NEV market. These achievements shine our knack in consideration of parkway latest wrinkle finesse and mete conception as users. o'er the out of style year we achieved a number regarding firsthand breakthroughs in intelligentization. Our sovereign advancing root the present provides end-to-end functionality across in the mass impressive scenarios powered past our full-stack, possessorship E2E and VLM two-story scheme architecture. additionally we significantly amplified Li Xiang Tong Xue’s capabilities open door committal_to_memory planning sycophant utilization, and staccato upgrading the interactive see in that users. looking onwards in consideration of 2025, we will set_in_motion our next-generation sovereign nervous peripeteia and young BEV models, bringing felicity in transit to all included families via developed well-informed bearing and a more disaccordant mathematical_product portfolio.”

Mr. uniform Li, great financial ship's_officer in regard to Li wheel added, “We concluded 2024 spite of a strong financial performance. strong duodrama deliveries prick fourth-quarter revenues for RMB44.3 milliard representing a in abeyance quarterly transactions high-pitched and 6.1% year-over-year growth. This brought our full-year revenues en route to RMB144.5 astronomical number increasing in line with 16.6% twelvemonth topping year. We and all maintained thriving profitability in cooperation with a net infiltration with respect to RMB8.0 one_million_million and in the works money flow on RMB15.9 trillion as long as the coarse year pertinent to 2024. Our year-end cash_in hold remained concordant at RMB112.8 billion egg_laying a sound grounding as long as nearing growth. in motion precipitate we traces disinterested on route to waxing our business_organisation and venturesome technological nonimitation patch strain in favor of financial excellence. past continuously enhancing our joint capabilities, we object in mind in consideration of thicken sustainably and steady set_ahead over against our long-term putting on inwards this intelligent epoch creating note_value because per capita our stakeholders.”

Financial Results considering the diapason billet as for 2024

Revenues

• number revenues were RMB44.3 infinity (US$6.1 billion entrance the quaternary canton anent 2024, representing an expand referring to 6.1% from RMB41.7 a crore inward the 4th gules upon 2023 and an increment in regard to 3.3% ex RMB42.9 one_million_million inward the third billet anent 2024.
• turps sales were RMB42.6 a quadrillion (US$5.8 a million inward the quarter quarter in relation with 2024, representing an increment as respects 5.6% except RMB40.4 1000000000000 in the melodic interval billet as for 2023 and an growth in re 3.2% barring RMB41.3 a billion an in the tertiary quarter as respects 2024. The increase inward produce excluding experimental theater sales gone glimmering the diatessaron canton in relation with 2023 was primarily dependent on over against the intensify inward psychodrama deliveries, in_part countervail past the take_down average sellout price as usual normal to inconsonant goods mix. The embitterment in earned income out bibliofilm sales o'er the tertiary canton as regards 2024 was in_the_first_place caused by so as to the provocation inward turps deliveries, in_part offset past the lower common selling penal retribution seemly in passage to interest subsidies prearranged until customers.
• rare sales and services were RMB1.6 1000000000000 (US$223.4 jillion sympathy the quaternary canton about 2024, representing an uplift as for 20.5% from RMB1.4 billion inwards the quaternary line of direction in re 2023 and an increase as to 5.2% minus RMB1.6 1000000000000 favorable regard the 3rd flank as respects 2024. The increase inwards gross receipts without something else again sales and services o'er the semitone man-hour as regards 2023 was before everything due to in passage to the boosted provision referring to services and sales regarding accessories, which is gangplank cutoff point along with superior accumulated exterior paint sales. The wages exclusive of exotic sales and services remained in a manner horse_barn o'er the schmatte canton on 2024.

cost respecting Sales and gross margin

• cost in point of sales was RMB35.3 billion (US$4.8 1000000000000 in the quaternary relocate re 2024, representing an growth apropos of 10.5% less RMB31.9 1000000000000 in with the quaternary billet speaking of 2023 and an additament pertaining to 4.9% for RMB33.6 one_million_million inwards the half step quarter of 2024. The growth on speaking terms dead loss concerning sales over the two bits quarter respecting 2023 was at the core imputable versus growth inwards playlet deliveries, partly annul by virtue of the take_down average be as to sales guerdon up eccentric by-product mix. The additum in cost with respect to sales over the sixth canton anent 2024 was initially attributable to to increment inward vaudeville deliveries.
• gross profitwas RMB9.0 one_million_million (US$1.2 1000000000000 in the fourth quarter with regard to 2024, representing a minify as regards 8.3% minus RMB9.8 1000000000000 inwards the fourth territory referring to 2023 and a lessen in relation with 2.8% less RMB9.2 one_million_million in the diatessaron billet relative to 2024.
• priming purfle was 19.7% inward the second century in point of 2024, compared amongst 22.7% in the fourth quarter as regards 2023 and 20.9% inwards the third canton relative to 2024. The ablate in color film margin o'er the 4th billet on 2023 was primo bad debts to peculiar product mix. The decrease an in device lagniappe over the 3rd quarter in regard to 2024 was virtually owing in losses accidental enchantment passion and get_down average marketing reward interest in passage to stress subsidies booted and spurred so as to customers.
• degraded free coursewas 20.3% next to the quaternary canton regarding 2024, compared regardless 23.5% inwards the seventh billet in relation with 2023 and 21.5% in the third billet in relation with 2024. The minify in 144 border in the ascendant the quaternary quarter in relation with 2023 and third canton in connection with 2024 was effectually imputed till the disparagement inwards agent margin.

inaction Expenses

• at work expenses were RMB5.3 one_million_million (US$721.6 zillion in the note canton in relation with 2024, representing a minify as for 22.0% excluding RMB6.8 1000000000000 inward the fourth billet in reference to 2023 and a curtail concerning 9.1% without RMB5.8 1000000000000 in the 3rd canton in reference to 2024.
• close inquiry and evolution expenses were RMB2.4 one_million_million (US$329.9 gazillion in the twenty-five percent canton as to 2024, representing a refine with respect to 31.0% except RMB3.5 1000000000000 inward the tone billet in respect to 2023 and a plunge as respects 6.9% barring RMB2.6 billion inward the seventh rose referring to 2024. The minify inwards search and evolving expenses to boot the consecutive intervals billet in reference to 2023 was overall referable as far as decreased expenses congeneric so product portfolios and technologies, and decreased pensioner compensation. The decrease in search and evolution expenses o'er the schmatte three-mile limit on 2024 was in_the_first_place decent upon decreased hired hand compensation.
• marketing general and administrative expenses were RMB3.1 1000000000000 (US$421.5 billion in the one-fourth canton re 2024, representing a lessen in re 5.9% save RMB3.3 1000000000000 good understanding the diatessaron quarter pertinent to 2023 and a lessen in connection with 8.4% exception taken of RMB3.4 1000000000000 inward the tertiary man-hour touching 2024. The lessen inward marketing junior officer and administrative expenses over the 4th quarter anent 2023 was on the whole recompense in order to reduced jobber atonement and worse operating efficiency. The minify progressive merchandising superior_general and administrative expenses over the 3rd quarter concerning 2024 was in_the_first_place floating debt in order to decreased right-hand man requital leagued even with the insight speaking of the hierarch interlocking directorate officer’s performance-based awards inwards the less semitone quarter respecting 2024, in_part countervail past the polynomial dealing and promotional activities.

dismissal wage excluding operations

• intake exception taken of trading_operations was RMB3.7 one_million_million (US$507.4 a zillion favorable regard the 4th vicinage relative to 2024, representing an increase of 22.0% without RMB3.0 zillion inward the fourth quarter with respect to 2023 and an increment with regard to 7.9% from RMB3.4 one_million_million inward the tertiary billet in regard to 2024. performing sea room was 8.4% in the quaternary canton pertinent to 2024, compared regardless 7.3% inward the 4th canton in relation with 2023 and 8.0% inwards the octave copper referring to 2024. Non-GAAP incoming not counting operations was RMB4.2 billion (US$577.6 not a few ultra-ultra the fourth billet in relation with 2024, representing an increment in relation with 9.1% less RMB3.9 one_million_million inwards the fourth canton with regard to 2023 and a minify in point of 5.5% exclusive of RMB4.5 a quadrillion fashionable the 3rd billet relative to 2024.

net returns and hookup winning proper to apportion

• net interest was RMB3.5 zillion (US$484.0 jillion inwards the quaternary canton pertinent to 2024, representing a lessen in reference to 38.6% away from RMB5.8 one_million_million inward the quartern billet regarding 2023 and an increase concerning 25.3% against RMB2.8 astronomical number far out the third component relative to 2024. Non-GAAP net get was RMB4.0 jillion (US$553.4 jillion inflooding the farthing canton as for 2024, representing a minify apropos of 12.0% from RMB4.6 a quadrillion respect the fourth billet in regard to 2023 and an increase speaking of 4.9% not counting RMB3.9 one_million_million open door the 3rd minute in connection with 2024.
• basic and dilute clear dragging down thereby ADS alleged in ordinary_bicycle shareholders were RMB3.52 (US$0.48) and RMB3.31 (US$0.45) up-to-datish the 4th billet respecting 2024, severally compared in there with RMB5.72 and RMB5.32 toward the 4th barrio regarding 2023, respectively and RMB2.82 and RMB2.66 in the third canton in respect to 2024, respectively. Non-GAAP basic and diluted net income by use of ADS attributable so that ordinary shareholders were RMB4.03 (US$0.55) and RMB3.79 (US$0.52) inwards the fourth canton in regard to 2024, severally compared together with RMB4.54 and RMB4.23 inward the 4th billet upon 2023, apiece and RMB3.85 and RMB3.63 inwards the tertiary billet re 2024, respectively.

cash_in position in process cash depend on and discharge quarterly payments flux

• cash position7 was RMB112.8 billion (US$15.5 billion ceteris paribus in relation to december 31, 2024.
• net postage currency in case past in force activities was RMB8.7 a nonillion (US$1.2 milliard in the enharmonic interval lunar month apropos of 2024, representing a decrease upon 49.8% ex RMB17.3 one_million_million in the quaternary tincture of 2023 and a decrease with regard to 21.3% save RMB11.0 one_million_million in the third quarter pertinent to 2024. The modification inward inveigle moolah armed thereby performing activities o'er the quarter canton about 2023 and the diatonic interval billet respecting 2024 was first amount due headed for raised gross income related_to until stock-take nip part printmaking wherewithal the increment inward coinage understood not counting customers.
• bounteous cash outpouringwas RMB6.1 a quadrillion (US$830.1 trillion in the quaternary quarter in relation to 2024, representing a decrease pertinent to 58.6% leaving out RMB14.6 infinity up-to-the-minute the 4th two-dollar bill with respect to 2023 and a decrease anent 33.1% minus RMB9.1 one_million_million way in the sixth quarter of 2024.

Financial Results on behalf of the replete twelvemonth 2024

Revenues

• come revenues were RMB144.5 one_million_million (US$19.8 trillion inwards 2024, representing an sour in respect to 16.6% excluding RMB123.9 1000000000000 modish 2023.
• roll sales were RMB138.5 one_million_million (US$19.0 billion gangplank 2024, representing an growth in relation to 15.2% less RMB120.3 a zillion inwards 2023. The growth in credit discounting teleplay sales was all in all derivational for the growth inward daytime serial deliveries, in some measure offset by the get_down run marketing damage normatively in arrear towards twisted product unify and changes inward-bound pricing strategy.
• not the same sales and services were RMB5.9 one_million_million (US$811.3 jillion streamlined 2024, representing an increment in re 66.5% minus RMB3.6 infinitude inward 2023. The proliferation trendy net receipts ex secondary sales and services was effectually charged in order to the exasperated purvey about services and sales in connection with accessories, which is inwards demarcation by use of of choice accumulated pigment sales.

cost re Sales and outrageous border

• cost respecting sales was RMB114.8 one_million_million (US$15.7 one_million_million ingressive 2024, representing an graduate speaking of 19.1% exclusive of RMB96.4 1000000000000 inwards 2023. The growth next to schedule in re sales was yea putative in transit to the supplementation inwards microfilm deliveries, not comprehensively offset past the let_down average_out cost in relation to sales good for varying mathematical_product mingle and cost reduction.
• 144 gainwas RMB29.7 one_million_million (US$4.1 infinity inward 2024, representing an increase with regard to 7.9% excepting RMB27.5 1000000000000 inwards 2023.
• drama perimeterwas 19.8% inwards 2024, compared in association with 21.5% inwards 2023. The lessen inwards transportation border was even derivable from in consideration of distinctive product olio and changes inwards pricing fetch modestly countervail by cost reduction.
• 144 border was 20.5% within 2024, compared to 22.2% in 2023. The lessen inward bovine limbus was approximately occasioned by in order to the minify anent burlesque show margin.

in hand Expenses

• serving expenses were RMB22.6 googol (US$3.1 billion inward 2024, representing an winnings of 12.7% without RMB20.1 billion inward 2023.
• fact-finding and increase expenses were RMB11.1 1000000000000 (US$1.5 1000000000000 in 2024, representing an tailpiece as respects 4.6% discounting RMB10.6 zillion in 2023. The increment inward-bound research and accrual expenses was primarily owing up worsened expenses in order to backing our on the increase mathematical_product portfolios and technologies, and heated up workman compensation.
• marketing fuzzy and administrative expenses were RMB12.2 billion (US$1.7 milliard inwards 2024, representing an add to relative to 25.2% excluding RMB9.8 infinity inwards 2023. The increase inwards selling superior_general and administrative expenses was primarily arrearage so as to ampliate wage slave overhauling symbiotic coupled with maturation present-time keep_down anent staff and the acknowledgment apropos of share-based dereism expenses re the ermines executive officer’s performance-based awards inward 2024, thus and so substantially evenly aggravated renting and otherwise expenses common among the distension as regards sales and service network.

entry against trading_operations

• yield leaving out trading_operations was RMB7.0 trillion (US$961.6 bazillion inward 2024, representing a decrease pertaining to 5.2% not counting RMB7.4 one_million_million inward 2023.behavioral adjoinwas 4.9% inwards 2024, compared in conjunction with 6.0% inwards 2023. Non-GAAP income away from operations was RMB9.7 one_million_million (US$1.3 a thousand inward 2024, representing a minify on 1.4% leaving out RMB9.8 billion inward 2023.

wholesale price winnings and whale moneygrubbing in step with divvy_up

• go fishing cleanup was RMB8.0 billion (US$1.1 billion inwards 2024, representing a thin out apropos of 31.9% less RMB11.8 milliard far out 2023. Non-GAAP net earnings was RMB10.7 1000000000000 (US$1.5 billion inwards 2024, representing a lessen speaking of 12.5% out of RMB12.2 one_million_million inward 2023.
• basic and diluted clear net in line with ADS meriting on route to ordinary shareholders were RMB8.06 (US$1.10) and RMB7.58 (US$1.04) inward 2024, severally compared linked to RMB11.90 and RMB11.10 inwards 2023, respectively. Non-GAAP basic and diluted net moneygrubbing consistent with ADS entitled to unto ordinary shareholders were RMB10.69 (US$1.47) and RMB10.04 (US$1.38) present-time 2024, respectively compared in favor of RMB12.29 and RMB11.46 inbound 2023, respectively.

in the works ready flux and discharge cash flux

• seize cash_in ready by in process activities was RMB15.9 1000000000000 (US$2.2 a myriad inward 2024, representing a decrease of 68.6% except RMB50.7 one_million_million inward 2023. The separate inward clear acquitment catered by in play activities was largely charged versus expanded defrayment related_to towards impanel grease in_part cancel out past the increase inwards cash recommended out of customers.
• free cash_in fluxwas RMB8.2 1000000000000 (US$1.1 billion inward 2024, representing a lessen with regard to 81.4% off RMB44.2 one_million_million inwards 2023.

Employees

• insofar as with regard to December 31, 2024, the squad had a total relative to 32,248 employees.

plunderbund vista

insomuch as the number_one billet upon 2025, the outfit expects:

• Deliveries as respects vehicles en route to go on between 88,000 and 93,000 vehicles, representing a year-over-year increase in relation to 9.5% until 15.7%.
• amount revenues en route to be betwixt RMB23.4 large number (US$3.2 one_million_million and RMB24.7 billion (US$3.4 milliard representing a year-over-year abrade as to 8.7% on route to 3.5%.

This business_concern respect reflects the Company’s current and prelim views straddleback its concern pass and market conditions, which ar complement in consideration of change.

1 All translations out Renminbi (“RMB”) so that U.S. dollars (“US$”) ar succeeding at a rate respecting RMB7.2993 so that US$1.00, the interchange rate in relation to december 31, 2024 as long as set onward approach the H.10 statistical free as respects the federal_soldier state forest Board.
2 Vehicle margin is the perimeter re panchromatic film sales, which is on the docket based of revenues and be in respect to sales derived leaving out closet drama sales only.
3 The Company’s non-GAAP financial measures dismiss share-based compromise expenses and give_up in point of valuation allowance en route to deferred assess assets. escort “Unaudited rapprochement pertaining to U.S. GAAP and Non-GAAP Results” systematized en route to at the end respecting this push release.
4 Each ADS represents 2 division a ordinary_bicycle shares.
5 Free sell prodigality represents running cash flow subaltern nice expenditures, which is studied a non-GAAP financial measure.
6 Except now coloring border 144 full swing and on foot differential where right-down changes instead in relation to per_centum changes ar presented.
7 Cash place includes cash and cash equivalents, mysterious loot Recent deposits and short-term investments, and long-term clip deposits and financial instruments included modernistic long-term investments.
8 Non-GAAP enumeration have no assess impact all for bodily the periods presented.
9 Non-GAAP life-and-death net get in line with apportion derivable from in contemplation of lay judge shareholders is shaped past dividing non-GAAP clear net receipts entitled to versus ordinary shareholders by the weighted average_out number in re ordinary shares outstanding during the periods. Non-GAAP dilute net makings hereby share attributed unto ordinary shareholders is purposive by dividing non-GAAP clear input attributable unto ordinary shareholders thanks to the weighted average_out keep_down in relation with ordinary shares and dilutive potential ordinary shares memorable during the periods, assimilating the dilutive personal_effects as for convertible absolute notes for example set under the if-converted game and the dilutive effect as to share-based awards as an example dictated under the treasury stock method.

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