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Chinese electric vehicle maker Li Auto swung to a net profit of 2.3 billion yuan (HK$2.5 billion) for the first half of 2023, from a 618 billion yuan net loss in the same period last year.
In the first six months of this year, the carmaker’s deliveries surged by 130% year-on-year to 139,117 vehicles, propelling its total revenues to 47.44 billion yuan, marking a significant 159% increase.
The compan6 noted that it has delivered a cumulative 396,451 vehicles as of June 30, 2023.
Vehicle sales revenue rose by 160% to 46.3 billion yuan in the first half from a year earlier, mainly due to higher vehicle deliveries.
Revenue from other sales and services also rose by 127% to 1.14 billion yuan for the period, driven by increased sales of accessories and services aligned with higher accumulated vehicle sales.
Li Auto now has 331 retail stores in 127 cities, along with 323 servicing centers and Li Auto-authorized body and paint shops in 223 cities.