In addition, Li's gross profit margin returned to health in the fourth quarter, reaching 20.2%, and the gross profit margin for the whole year reached 65,438+09.4%. Under the background of increasing investment and production capacity, by the end of the fourth quarter, Li's cash reserves reached 58.45 billion yuan.
It is an important turning point for enterprises to stride forward from 1 to 10 to the scale of 100 billion. Li built a business model of big products and flywheel effect, and constantly improved the operating efficiency and quality of enterprises. This financial report shows that Li's operating profit (excluding equity incentives) in the fourth quarter exceeded 500 million yuan, reaching 568.7 million yuan, with an operating profit margin of 3.2%. In addition, the net profit in the fourth quarter was 265.3 million yuan, and the quarterly free cash flow was 3.26 billion yuan. Positive financial data show that enterprises have gradually begun to change from the initial stage to a larger scale.
At the same time, Li has always attached importance to the ratio of input and income, insisting that more than 65,438+00% of the input is used to support the long-term self-developed technology development of enterprises. In the fourth quarter, Li's R&D expenditure was 2.07 billion yuan, accounting for11.7%; For the whole year, the R&D expenditure in 2022 was 6.78 billion yuan, accounting for 15.0%, which was twice as much as the R&D expenditure in 20021year, with a year-on-year increase of 106.3%. R&D expenditure has increased steadily, exceeding the investment of most mainstream new brands. In addition, Li always adheres to strict cost management and dedicated execution. In the fourth quarter, the sales, general affairs and management expenses were 65.438+63 billion yuan, accounting for 9.2% of the quarterly expenses. According to comprehensive data, Li's investment in this project has been lower than that of most mainstream new brands.
Thanks to the healthy business model, Li's products have been widely recognized by more and more home users, and the demand continues to be strong. Based on this, Li once again gave a new guide to the prospect of the first quarter of 2023. The estimated delivery volume is 52,000 to 55,000 vehicles, up 64.0% to 73.4% year-on-year; The total income is estimated to be 654.38+0.745 billion yuan to 654.38+0.845 billion yuan, up 82.5% to 93.0% year-on-year.
This month, Li officially released five new family flagships-Ideal L7, offering three versions of Air, Pro and Max, opening a new journey for a family of three. From the second day of the conference, users who have experienced and tested the car all over the country spoke highly of the ideal L7. Thanks to this, Li once again gained a leading position in the more competitive five-seat SUV market segment of 300,000-400,000 yuan.
Ideal L7 adopts the brand's latest design concept, which contains a unique design language and a brand-new color that keeps pace with the times. The ideal L7 has two rows of space and comfort beyond the D-class luxury car, the female throne of the lover, the starry bed of the whole family, and the flagship configuration of a million luxury cars. This model is equipped with an ideal extended-range electric 2.0 system, which achieves the flagship strong performance, ultra-quiet, long battery life and low energy consumption. The acceleration time of 100 kilometers is 5.3 seconds, and the comprehensive endurance of CLTC reaches 13 15 kilometers. At the same time, the ideal L7 meets the highest standard of G-class collision, with a small offset of 25% on both sides. It is also the only vehicle with double-row seat side airbags in the mainstream five-seat SUV within 300,000-400,000 yuan, providing all-round protection for every family member through the five-star health standard green space.
Li also introduced the air version of the ideal L8 to further meet the needs of home users in the price range of 300,000-400,000 yuan. The ideal L8 Air, like the ideal L7 Air, adopts a battery pack with the same performance and higher cost performance, and comes standard with CDC continuous variable damping shock absorber, ideal intelligent driving AD Pro and ideal smart space SS Pro to create an experience beyond the same level. As the main family car, Ideal L8 is committed to creating a happy travel scene for families with children. For example, the ideal L8 has the largest space size in its class, and the seating space and storage space in the car are even larger than those provided by some full-size SUV models. In addition, the ideal L8 flagship extended-range electric system has an external function, which can be transformed into an energy fortress, allowing a family to enjoy the freedom of using electricity freely outdoors.
In addition, the family's six flagship SUV——Ideal L9, continue to lead the market segment. Since its delivery, Ideal L9 has been ranked first in sales of large SUV in China for five consecutive months. Ideal L9 has built six extremely comfortable spaces around home users, equipped with self-developed flagship intelligent driving system-ideal AD Max and the highest level of body safety. The innovative five-screen three-dimensional interactive intelligent cockpit has raised the driving, audio-visual and entertainment experience of intelligent electric vehicles to a new height. The flagship configuration exceeding 100 also provides a more luxurious experience for family travel.
The financial report for the fourth quarter and the whole year of 2022 shows that Li has continuously increased his investment in China, with a quarterly investment of 2.07 billion yuan and an annual investment of 6.78 billion yuan. In 2022, R&D investment doubled, with a year-on-year increase of 106.3%. Li believes that it is the backbone of the enterprise and the cornerstone to promote its long-term development. At the beginning of 2023, Li mentioned corporate vision in the letter from CEO to all employees, that is, he will become the world's leading artificial intelligence enterprise in 2030. Li gave a definition of this. The software 1.0 is designed, programmed, calculated and used by human beings. Software 2.0 is the rule of machine design, machine programming, machine calculation, machine use, machine learning and serving human beings.
Li plans to build a complete system capability in the field of artificial intelligence (software 2.0) by 2030. Intelligent electric vehicle with autonomous driving function will become the earliest artificial intelligence robot, and create the mother ecology of artificial intelligence in the physical world: from AI algorithm to AI products that change life, from AI operating system to AI reasoning chip, from AI training platform to AI training chip. Li hopes to change the efficiency and experience of the physical world with artificial intelligence robots through his continuous investment in the field of artificial intelligence and product capabilities that continue to exceed the needs of users, so as to benefit every family and every member of the family he serves. Through its own continuous efforts, after rounds of industry elimination, it finally became the leader of the global artificial intelligence industry.
At the same time, the intelligent technology of the ideal L series products, which is closely related to users' daily travel, is constantly being optimized. "Ideal classmate" has evolved into a new generation of end-cloud integrated architecture, which integrates the car-oriented reasoning engine LisaRT developed by Li, and can support stronger and more complex algorithms deployed in cars. In addition, the self-developed algorithm has also made outstanding progress in voice and visual interaction. In the aspect of speech, the innovative MIMO-NET algorithm can realize the accurate separation of multi-tone speech; Combined with the self-developed speech recognition algorithm MSE-NET, the awakening rate and recognition accuracy of the ideal students in the real vehicle test scene are improved to 98%. In the face of the more challenging three key scenes in the industry, such as "high noise", "whispering" and "childlike innocence", the awakening rate and recognition accuracy of the ideal students have increased to over 90%.
In the aspect of intelligent driving, the framework of hybrid BEV algorithm proposed by Li, Tsinghua and MIT can be flexibly deployed on two sets of sensor hardware combinations: AD Max and AD Pro. Self-developed high-speed NOA prediction algorithm provides comfortable automatic lane change and acceleration and deceleration experience. At present, more than 220,000 home users can use the high-speed NOA function, and the driving range of high-speed NOA navigation assistance is close to 65.438+0 billion kilometers. During Spring Festival travel rush in 2023 alone, the high-speed NOA mileage of all models will be close to 8 million kilometers. This year, the navigation-assisted driving capability will be further extended to urban scenes. It is planned that in the fourth quarter, early bird users in NOA, the ideal open city of AD Max, will conduct internal testing.
Up to now, Li's * * * has obtained more than 2,200 patents, covering extended-range electric, smart space, intelligent driving, R&D, operation and other business fields. Looking forward to the future, Li will continue to carry out full-stack self-research on the core technologies of parallel extended-range electric and high-voltage pure electric, continuously improve the level of product intelligence, and continue to invest resources in product research and development, platform research and development, and system research and development.
At the same time, Li is constantly expanding his service network layout. By June 65438+1October 3 1 in 2023, Li had 296 retail centers in China, covering 123 cities; It has 320 after-sales maintenance centers and authorized body panel spraying centers, covering 222 cities.
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