Li Auto stock slides on Q1 earnings, net profit decline

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Seana Smith News

Brad Smith,Li Auto,Net Profit

Shares of Li Auto (LI) are falling in Monday's pre-market session after the Chinese car company reported net profit declines and missed quarter-over-quarter ...

) are falling in Monday's pre-market session after the Chinese car company reported net profit declines and missed quarter-over-quarter EV delivery estimates. Morning Brief HostsAfter reporting that first quarter, net profit fell 36% from a year ago, steep rise in research, hiring new staff and other operating expenses, offsetting some of the higher sales that the company did see.

And then additionally, you look at the vehicle margins that came in at 19.3% in the first quarter of 2024.You compare that with a 19.8% margin so larger than this most recent quarter in the first quarter of 2023.And I think just coming back to your point of exactly how this business is going to be able to continue to operate right now and, and make sure that they can ensure investors that they are going to maintain this profit margin as well.

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