On June 16, Li Auto Hong Kong Stock Exchange announced that on June 15, 2024, the company will grant a total of 2.59505 million restricted share units (restricted share units) to 195 employees under the 2019 plan, representing the same number of Class A common shares, accounting for approximately 0.12% of the total issued shares of the company as of the date of this announcement (on a one share, one vote basis).
It is worth noting that the announcement also pointed out that according to the restricted share unit grant terms, the total vesting period of restricted share units ranges from approximately zero to 60 months. Restricted stock units granted under the restricted stock unit must meet several performance goals related to performance evaluation results, comply with internal rules and regulations related to integrity and confidentiality, and other obligations before they can be attributed. The company will determine whether the assignee meets the performance goals based on the performance evaluation results during the relevant period. If there are unqualified assessment results in the performance review, the portion of restricted shares belonging to the transferee shall be confiscated.
On May 20th, Li Auto released its financial report for the first quarter of 2024. The delivery volume of Li Auto in the first quarter was 80400 vehicles, a year-on-year increase of 52.9%. Revenue hit a new high for the same period, with a total revenue of 25.6 billion yuan in the first quarter, a year-on-year increase of 36.4%. Li Auto’s adjusted net profit for the first quarter was 1.3 billion yuan (excluding equity incentive expenses), with a gross profit margin of 20.6%. Since the fourth quarter of 2022, Li Auto has achieved profitability for six consecutive quarters.
At the end of the first quarter, 357 Li Auto overcharging stations were launched, and on May 15th, the 400th Li Auto overcharging station was officially launched. According to the plan, Li Auto’s goal is to build over 2000 supercharging stations by the end of this year, and the number of charging stations will exceed 10000. At the end of the first quarter, Li Auto had 474 retail centers covering 142 cities.
The expected delivery volume of vehicles in the second quarter of 2024 is 105000 to 110000, a year-on-year increase of 21.3% to 27.1%. It is expected that the total revenue in the second quarter will be 29.9 billion to 31.4 billion yuan, a year-on-year increase of 4.2% to 9.4%.