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| And with our volume group, it will be a positive factor for the gross margin, yes |
| Notably, the official release of our OTA 5.0 upgrades in December last year, further enhance product competitiveness of our vehicles |
| We delivered a total of 376,000 vehicles for the entire year, exceeding our target setting at the beginning -- set at the beginning of 2023 and also making us the first emerging new energy automaker in China to exceed the 300,000 annual deliveries mark |
| All this data and all the positive feedback from users and media are great testaments to our product competitiveness |
| And as we mentioned earlier, the company will also maintain a healthy gross margin, which means almost about 20% throughout of the full-year |
| And for the MEGA and the 2024 model of L series, it will be a positive factor for the gross margin starting from March |
| With Li Auto's growing popularity globally, we are accelerating the development of a sales service network and the spare parts supply chains to ensure outstanding service experience for our international customers |
| Our scale expansion, effective cost control and increasing operating efficiency have continuously improved our financial performance |
| From a long-term perspective, we are very confident in our charging stations profitability prospect |
| In the first calendar month after the launch of L7 and L9, respectively, we have been able to successfully produce and deliver over 10,000 units for each model |
| In 2024, the virtuous cycle of our business growth will solidify our long-term profitability, cash generation -- generating capabilities and capital base |
| So whether it's new factories or new employees, they're all able to very easily replicate the success in the past |
| 2024 will be a big year for our -- in terms of new product launches and we're very confident to maintain the consistency and timeliness of our supply |
| Even we have some promotion in the fourth quarter, but we have more good news from the [indiscernible] even though our gross margin increased, yes, some compared with the third quarter |
| Making autonomous driving a standard will bring us as many users as possible, collect as much data as possible and help us to increase and improve our algorithms and improve the experience for our users, and that creates a very positive cycle |
| This trajectory will further deepen our R&D efforts across products, platforms and systems, ensuring consistent delivery of exceptional products and services to our users in the long run |
| So we're very confident to say that 2024 in terms of our 80 products and R&D capabilities, we're among the top in China |
| First of all, we have a lot of great experience in the new product launches and ramp up to achieve volume shortly after product launch |
| And the company will also maintain a healthy gross margin of about 20% for the first quarter |
| In December, we reached another significant milestone of 50,000 monthly deliveries, setting a new record for Chinese premium car brands |
| According to China Automotive Technology and Research Centers insurance registration data in China's NEV market of RMB200,000 and higher, Li Auto's market share increased from 10.9% in Q1 2023 to 16.0% in Q4, making us a leading Chinese automotive brand by market share, the growth will continue in 2024 |
| Additionally, we achieved full-year profitability for the first time in 2023, recording a healthy net income of RMB11.81 billion |
| Facing the exceptionally high demand during the holiday season, our superchargers maintained an online rate of over 99.3% providing uninterrupted access to high-quality and efficient charging experience to all users |
| Congratulations for the great results |
| So when we consider that, we still -- what we want to say as before, we will maintain a healthy gross profit margin over 20% always |
| 2024 will be an unprecedented year of new product launches for Li Auto, beginning in March with the launch of our high-tech flagship and family MPV, Li MEGA, developed on a pure BEV platform, Li MEGA integrates the latest technological advancements in 5C BEV technologies, smart space and autonomous driving |
| I would like to take this opportunity to express our sincere gratitude to all of our family users, business partners and our team for your unwavering trust, support and tireless efforts |
| And congratulations on great result again |
| And congrats on the very strong results |
| Net income in the fourth quarter was RMB5.75 billion or $810.2 million, representing an increase of 2,068.2% year-over-year and increasing by 104.5% quarter-over-quarter |
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| And the L6 will be negative if we want to say to be for the over 20% gross margin |
| And just like last quarter, I think everyone was worried about the competition in the fourth quarter, there will be some promotion, but for every quarter, there will be some other come out from the supply side and also from like the material price side |
| While Li Auto booked a record high earnings, many are struggling |
| In first quarter because you are selling the 2023 version of L7, L8, and L9, so your gross margin slightly lower than 4Q |
| The first, we noticed the industry is going through a painful consolidation |
| Forward-looking statements informed inherent risk and uncertainties |
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