Li Auto Inc., a Chinese electric vehicle manufacturer, has seen its shares increase by over 9 percent in the pre-market trading on Monday, landing at $37.92. This increase is due to the company posting impressive fourth-quarter results that have greatly surpassed market expectations.
The fourth quarter net income stood at RMB5.75 billion, or $810.2 million. This is a substantial rise, amounting to 2,068.2 percent increase from RMB265.3 million recorded in the same quarter the previous year. The Earnings Per American Depository Share (ADS) were RMB5.32, or $0.75, as compared to RMB0.25 last year.
Factoring out one-time items, the Earnings per ADS were RMB4.23, or $0.60. This surpassed the average estimate of $0.29 per share projected by analysts polled by Thomson-Reuters.
The company reported revenues of RMB41.73 billion, or $5.88 billion, which indicates a 136.4 percent increase from RMB17.65 billion recorded the previous year. This figure was also impressive, surpassing the consensus estimate of $5.48 billion.
Li Auto Inc. shares closed at $34.80, dropping by 0.54 percent on Friday. In the past year, the shares have been traded ranging from $20.80 to $47.33.
