As an innovator in China’s NEV market, Li Auto engages in the designing, development, manufacturing and sales of premium smart electric SUVs. Through innovations in its products, technology and business model, the Company is committed to providing safe, convenient and cost-effective mobility solutions for Chinese families. In July 2020, the Company was successfully listed on NASDAQ.
Li Auto is the first company to successfully commercialize extended-range electric vehicles, or EREVs, in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The company started the volume production of Li ONE in November 2019 and delivered over 27,400 Li ONEs as of November 31, 2020. During the period from January 2020 to November 2020, the Company sold 26,498 Li ONEs, more than any other large new energy SUV models in the market.
The Company realized the total revenue of RMB5,309.7 million for the nine months ended on September 30, 2020. Respectively, the quarterly revenue was RMB851.7 million, RMB1,947.2 million and RMB2,510.8 million, and the quarterly gross margin was 8.0%, 13.3% and 19.8%. From 2020 Q2, the operating cash flow has turned to positive and kept increasing steadily. In 2020 Q3, the Non-GAAP net income has turned to positive as well.
The transaction is a landmark project of CICC’s overseas capital market services for Li Auto Inc. after assisting in its NASDAQ listing in July 2020. The deal team provided the Company with unique and practical suggestions in strategies and the operation of the deal. CICC, with its professional and efficient services, assisted the Company in completing the transaction, winning high recognition from the client.
Based on in-depth understandings of the Company and the NEV industry, CICC accurately dug out demands of leading institutions that focus on new energy vehicles. A great number of orders from Asian investors was confirmed in a short period, leading to a steady increase in demand from Europe and the United States, and achieving 100% conversion rate of 1-on-1 and small-group meetings on the first day. CICC’s contribution in promoting bookkeeping momentums and demand was highly recognized.
CICC assists the Company in introducing the world’s top long only investors, hedge funds, top Chinese public funds and other well-known investors leveraging its strong cross-border advantages. As a result, CICC introduced orders that covered several times of the issue size.
