Li Auto Inc. (NASDAQ:LI) Q2 2023 Earnings Conference Call August 8, 2023 8:00 AM ET Company Participants Janet Chang - Investor Relations Director Xiang Li - Chairman and Chief Executive Officer Johnny Tie Li - Chief Financial Officer Conference Call Participants Tim Hsiao - Morgan Stanley Bin Wang - Credit Suisse Paul Gong - UBS Jing Chang - CICC Ming Hsun Lee - Bank of America Yuqian Ding - HSBC Operator Hello, ladies and gentlemen. Thank you for standing by for Li Auto's Second Quarter 2023 Earnings Conf ...

Exhibit 99.1 Li Auto Inc. Announces Unaudited Third Quarter 2023 Financial Results Quarterly total revenues reached RMB34.68 billion (US$4.75 billion)1 Quarterly deliveries reached 105,108 vehicles BEIJING, China, November 9, 2023 — Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced its unaudited financial results for the quarter ended September 30, 2023. Operating Highlights for the Third Quarter of 2023 · Total vehicle deliver ...

Li Auto Inc. (NASDAQ:LI) Q1 2023 Earnings Conference Call May 10, 2023 8:00 AM ET Company Participants Janet Chang - Director of Investor Relations Xiang Li - Founder, Chairman and Chief Executive Officer Tie Li - Executive Director and Chief Financial Officer Donghui Ma - Executive Director and President Yan Xie - Chief Technology Officer Conference Call Participants Tim Hsiao - Morgan Stanley Bin Wang - Credit Suisse Paul Gong - UBS Ming Hsun Lee - Bank of America Yuqian Ding - HSBC Yingbo Xu - CITIC Secu ...

Exhibit 99.1 INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Page Unaudited Condensed Consolidated Financial Statements Unaudited Condensed Consolidated Balance Sheets as of December 31, 2022 and June 30, 2023 F-2 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Six Months Ended June 30, 2022 and 2023 F-4 Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Six Months Ended June 30, 2022 and 2023 F-5 Unaudited Condensed Consolidated ...

Exhibit 99.2 ...

Vehicle Deliveries and Sales - Li Auto Inc. reported cumulative vehicle deliveries of 257,334 as of December 31, 2022[371]. - Cumulative vehicle deliveries reached 309,918 units by March 2023, up from 257,334 units in December 2022, reflecting significant growth[429]. Financial Performance - The company reported a significant increase in revenue, reaching $1.5 billion, representing a 25% year-over-year growth[1]. - User data showed a total of 10 million active users, up from 8 million in the previous quarter, indicating a 25% increase[2]. - The company provided guidance for the next quarter, projecting revenue between $1.6 billion and $1.7 billion, which would reflect a growth rate of 7% to 13%[3]. - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[4]. - The company reported a gross margin of 45%, which is a slight improvement from 43% in the previous quarter[9]. - Operating expenses increased by 10% to $300 million, primarily due to higher marketing and R&D costs[10]. Product Offerings - Li L9, launched in June 2022, has a retail price of RMB459,800 (US$66,700) and offers a CLTC range of 1,315 kilometers[379]. - Li L8 is available in three trims with retail prices ranging from RMB339,800 (US$49,300) to RMB399,800 (US$58,000)[381]. - Li L7, launched in February 2023, features a CLTC range of 1,315 kilometers and retail prices from RMB319,800 (US$46,400) to RMB379,800 (US$55,100)[382]. - EREV models utilize a proprietary powertrain that combines battery packs and a range extension system, offering lower energy consumption compared to ICE vehicles[384]. Research and Development - The company employs 4,838 individuals in research and development as of December 31, 2022, focusing on electric vehicle technologies and intelligent systems[396]. - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[5]. - The company has developed 2,028 issued patents and 5,887 pending patent applications as of December 31, 2022, supporting its core proprietary technologies[427]. Autonomous Driving and Technology - Li Auto Inc. is dedicated to achieving Level 4 autonomous driving in the future, starting with high-end models like Li L9[374]. - As of December 31, 2022, the company delivered approximately 190,000 vehicles equipped with NOA capabilities, showcasing its advancements in autonomous driving technology[394]. - The autonomous driving system includes enhanced Level 2 capabilities, with features such as adaptive cruise control and automatic emergency braking[393]. - The smart in-car voice assistant, Li Xiang Tong Xue, features advanced algorithms for voice isolation and gesture recognition, improving user interaction[390]. Manufacturing and Operations - The Changzhou manufacturing base covers 72 hectares with approximately 180,000 square meters of shop floor space, consisting of four workshops and an office building[413]. - The company has implemented a fully self-developed production management software, Li MOS, which improves operating efficiency and shortens new factory deployment cycles by over 3 months[415]. - The company maintains over 2,700 vehicle testing measures for quality assurance before delivery to customers[419]. - The company is expanding its manufacturing facilities, including the construction of a semiconductor manufacturing base in Suzhou, Jiangsu Province, focusing on automotive-grade power modules[417]. Marketing and User Engagement - The marketing strategy focuses on generating word-of-mouth referrals and leveraging short-video platforms to enhance brand exposure and attract potential users[407]. - A new marketing strategy is set to increase brand awareness, with an expected increase in customer engagement by 30%[8]. Regulatory Environment - The PRC government encourages the construction and development of electric vehicle charging infrastructure, requiring centralized charging stations to obtain construction permits[435]. - The national subsidies for new energy vehicles (NEVs) will be reduced by 20% increments in 2021 compared to 2020, and further reduced by 30% increments in 2022 compared to 2021[447]. - The exemption of vehicle purchase tax for NEVs has been extended to December 31, 2023, benefiting models like Li ONE, Li L7, Li L8, and Li L9[449]. - The PRC Product Quality Law mandates that manufacturers cannot produce or sell products that do not meet safety standards, with penalties for violations[443]. Corporate Governance and Compliance - The company received an "AA" rating from MSCI ESG Research for the second consecutive year, highlighting its commitment to environmental, social, and governance practices[421]. - The company has adopted strict internal control systems for data security and user privacy, ensuring compliance with relevant laws and regulations[425]. - The company is subject to various consumer protection laws, including the PRC Consumer Rights and Interests Protection Law, which imposes stringent obligations on business operators[474]. VIE Structure and Agreements - The contractual arrangements with VIEs allow the company to exercise effective control and receive economic benefits from the VIEs[552]. - The exclusive consultation and service agreements stipulate that the company has the exclusive right to provide technical services to its VIEs and receive 100% of their quarterly net income as service fees[559]. - The equity pledge agreements ensure that shareholders pledge their equity interests to guarantee performance under the contractual arrangements[557].

Financial Data and Key Metrics Changes - Total revenues for Q4 2022 were RMB 17.65 billion ($2.56 billion), representing a year-over-year increase of 66.2% and a quarter-over-quarter increase of 88.9% [21] - Vehicle sales revenue was RMB 17.27 billion ($2.5 billion), up 66.4% year-over-year and 90.9% quarter-over-quarter [21] - Gross profit for Q4 2022 was RMB 3.57 billion ($517.1 million), growing 49.8% year-over-year and 201.7% quarter-over-quarter [22] - Net income for Q4 2022 was RMB 265.3 million ($38.5 million), a decrease of 10.2% from RMB 295.5 million in Q4 2021 [25] - Free cash flow was RMB 3.26 billion ($472.3 million) in Q4 2022 [26] Business Line Data and Key Metrics Changes - The company delivered 46,319 new vehicles in Q4 2022, with annual deliveries reaching 133,246 units for 2022 [8] - The L9 model dominated the full-size SUV monthly sales chart since its release, while the L8 became the top seller of all large SUVs in December 2022 [8][9] - The company aims for a 20% market share in the RMB 300,000 to RMB 500,000 premium SUV segment in 2023 [12] Market Data and Key Metrics Changes - The penetration rate of new energy passenger vehicles in China reached 31.7% in Q4 2022, up from 14.8% in 2021 [7] - The company ranked first in both the SUV and NEV market in the price range of RMB 300,000 to RMB 500,000 as of December 2022 [9] Company Strategy and Development Direction - The company plans to continue focusing on R&D and enhancing product intelligence, with a commitment to developing core EREV and BEV technologies in-house [19] - The company is expanding its retail network, operating 296 retail stores and 320 service centers as of January 31, 2023 [14] - A modularized approach to supply chain management is being adopted to balance cost and risk [13] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving deliveries between 52,000 and 55,000 vehicles in Q1 2023, representing a year-over-year increase of 64% to 73.4% [27] - The company anticipates continued improvements in battery pricing, which is expected to positively impact margins [33] - Management acknowledged challenges in the second half of 2022 but emphasized improvements in resource allocation and operational systems [31] Other Important Information - The company has made significant advancements in R&D, particularly in electric drive units and smart space technologies [15][16] - The L7 model was launched on February 8, 2023, with deliveries expected to start in early March [10] Q&A Session Summary Question: What is the basis for the delivery target of 25,000 to 30,000 vehicles? - Management confirmed that the target is based on internal goals and expected to be reached in Q2 2023 [29] Question: What are the factors affecting battery procurement costs and margins? - Management indicated that battery costs are expected to decrease, benefiting the industry and the company [33] Question: What is the outlook for gross margin given the product mix? - Management noted that the gross margin is healthy and consistent with guidance, with expectations for improvement as supply chains ramp up [36] Question: How does the company plan to differentiate its upcoming BEV models? - Management emphasized the importance of charging infrastructure and cost efficiency in their EV strategy [39] Question: What is the expected sales contribution from Shanghai and the impact of license plate policies? - Management noted a recovery in orders from Shanghai and expects market share to stabilize similar to Beijing [46] Question: How does the company evaluate potential cannibalization among its SUV models? - Management reported clear differentiation in user bases among the L7, L8, and L9 models, with minimal overlap [52]

Exhibit 99.1 INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Page Unaudited Condensed Consolidated Financial Statements Unaudited Condensed Consolidated Balance Sheets as of December 31, 2022 and March 31, 2023 F-2 Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income for the Three Months Ended March 31, 2022 and 2023 F-4 Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Three Months Ended March 31, 2022 and 2023 F-5 Unaudited Condense ...

Li Auto Inc. (NASDAQ:LI) Q3 2022 Results Conference Call December 9, 2022 7:00 AM ET Company Participants Janet Zhang - Investor Relations Director Kevin Yanan Shen - President Johnny Tie Li - Chief Financial Officer Xiang Li - Founder and Chief Executive Officer Donghui Ma - Chief Engineer Yan Xie - Chief Technology Officer Conference Call Participants Tim Hsiao - Morgan Stanley Olivia Hsu - Goldman Sachs Ming-Hsun Lee - Bank of America Xu Yingbo - CITIC Securities Jing Chang - CICC Operator Hello, ladies ...

Li Auto Inc. (NASDAQ:LI) Q2 2022 Results Conference Call August 15, 2022 8:00 AM ET Company Participants Janet Zhang - Investor Relations Director Xiang Li - Founder, Chairman and Chief Executive Officer Kevin Yanan Shen - Director and President Johnny Tie Li - Executive Director and Chief Financial Officer Conference Call Participants Fei Fang - Goldman Sachs Tim Hsiao - Morgan Stanley Bin Wang - Credit Suisse Paul Gong - UBS Ming Lee - Bank of America Jiong Shao - Barclays Operator Hello, ladies and gentl ...