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Shanghai (Gasgoo)- Li Auto, a leading player in China's new energy vehicle market, has released its unaudited financial results for the fourth quarter (Q4) and full year ended December 31, 2024. The company posted total revenue of RMB44.3 billion in Q4 2024, marking a 6.1% increase from RMB41.7 billion in the same period of 2023 and a 3.3% rise from RMB42.9 billion in the third quarter (Q3) of 2024. Vehicle sales contributed RMB42.6 billion, up 5.6% year-over-year and 3.2% quarter-over-quarter. Li L7; photo credit: Li Auto Despite revenue growth, profitability faced pressure. Li Auto's gross profit stood at RMB9 billion in Q4 2024, down 8.3% from the prior year and 2.8% from the previous quarter. In the same quarter, the company's gross margin narrowed to 20.3%, compared to 23.5% in Q4 2023 and 21.5% in Q3 2024. Vehicle margin followed a similar trend, slipping to 19.7% from 22.7% a year earlier and 20.9% in the preceding quarter. Net income came in at RMB3.5 billion in Q4 2024, refl
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