Li Auto posted stronger-than-expected sales for the final quarter last year despite ongoing price war in the whole industry. The total revenue that quarter increased 136.4% year-over-year (YoY) to RMB41.73 billion (US$5.88 billion), better than Wall Street estimated RMB39.8 billion. The net income soared 2,068.2% YoY to RMB57.5 billion that quarter, and non-GAAP net income was RMB4.59 billion, up 374.2%. Gross profit was RMB9.79 billion, representing a 174.4% YoY increase, and gross margin increased to 23.5%, up from 20.2% a year earlier. For the year 2024, Li Auto first achieved profitability in a year, the first of the the major Chinese EV startups to turn a profit in a full year. It recorded net income of RMB11.81 billion, compared with net loss of RMB2.03 billion in 2022. The bottom line was way above expectation of RMB8.91 billion. .The annual revenue surged 173.5% YoY to RMB123.85 billion, and RMB120.29 out of them came from vehicle sales with a YoY growth of 172.7%.