Li Auto Inc. (NASDAQ: LI) has disclosed today the results of the third quarter of 2020. The company has reported the total revenue for the third quarter of 2020 of RMB2.51 billion (US$369.8 million). It has experienced an increase of 28.9% in total revenue as compared to the RMB1.95 billion revenue in the second quarter of 2020.
Looking at its profitability, it has reported the Gross Profit of RMB496.8 Million in the third quarter of 2020 as compared to the RMB259.7 Million Gross Profit in the second quarter of 2020. Li Auto Inc has undergone an upsurge of 91.3% in the Gross Profit of the third quarter of 2020. The company has described a rise of 6.5% in the Gross Margin of Q3.
In the third quarter of 2020, Li Auto has reported a loss of RMB106.9 Million as compared to the loss of RMB75.2 million in the second quarter of 2020. The loss from the operations was RMB180.0 Million as compared to the RMB176.3 Million in the second quarter of 2020. It has signified a rise of 2.1% as compared to the second quarter of 2020.
Now, look at the sales of vehicles in the third quarter of 2020. Auto manufacturers have reported vehicle sales of RMB2.4 billion as compared to vehicle sales of RMB1.92 billion in the second quarter of 2020. This show a rise of 28.4% in vehicle sale as compared to the second quarter of 2020.
Now move on to the operational highlights for the third quarter of 2020. The company has disclosed that it has delivered 8,860 vehicles in the third quarter of 2020 as compared to the 6,604 and 2,896 in the second and first quarter of 2020. The figures represented a quarter-over-quarter increase of 31.1%.
Li Auto Inc. has also unveiled in the third quarter report the appointment of Mr. Kai Wang as chief technology officer. Moreover, the company has also named Mr. Zheng Fan as the new independent director to the board of the director of the company. Turing our focus on its strategic cooperation, Li Auto has signed a cooperation agreement with NVIDIA Corporation.
Shares of Li Auto Inc. (NASDAQ: LI) soared 27.27% as it gained +6.81 during the trading session of Thursday. In the past 52-weeks of trading, its stock has fluctuated between the 52-weeks low range of $14.31 and a high range of $28.49. Its stock surged 122.08% and 11.55% from its 52-weeks low and 52-weeks high. This company has a total market capitalization of $28.22 billion at the time of writing.