Li Auto releases financial report, Li Xiang: focusing on the high-end market, revenue is expected to exceed one trillion

According to news on February 27, Li Auto released its financial report for the fourth quarter and full year of 2023 yesterday, showing a strong growth trend. The report shows that the company achieved significant revenue growth in 2023, with annual revenue reaching 123.85 billion yuan, a year-on-year increase of 173.5%, making it China's first new power car company with annual revenue exceeding 100 billion.

In the earnings conference call after the release of the financial report, Li Xiang, CEO of Li Auto, shared the company’s future strategy. He said that in the next five years, Li Auto will focus on the market for models above 200,000 yuan and will not get involved in the market below 200,000 yuan. Li Xiang predicts that by 2030, China's home user market of more than 200,000 yuan will become a huge opportunity. Li Auto only needs to occupy 1/3 of this market to achieve revenue of more than one trillion yuan. He said with confidence: "This is a huge gold mine. There is no need for us to distract ourselves from looking at other places."

It is understood that Li Xiang said that if Li Auto succeeds in the international market, The company's revenue is expected to reach a level comparable to the iPhone's global operating revenue in 2030, relying solely on the home user market of more than 200,000 yuan. This statement shows Li Xiang’s optimistic view on the future growth of Li Auto.

The financial report also disclosed in detail the revenue structure of Li Auto. Vehicle sales revenue accounted for the vast majority, reaching 120.29 billion yuan in 2023. This figure once again highlights Li Auto’s solid position and strength in the new energy vehicle market.

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