Shares of the Beijing company were climbing 14.5% to $22.88 on Wednesday.
Li Auto reported a net loss of RMB360 million, or $54.9 million, or RMB0.40 a share, from RMB77.1 million ($12.1 million), or RMB1.83 a share, a year ago.
Adjusted earnings came to RMB0.20, while the FactSet consensus called for a loss of RMB0.10.
Total revenue increased 319.8% to RMB3.58 billion ($545.7 million), compared to the FactSet consensus of RMB3.54 billion. Vehicle sales increased 311.8% to RMB3.46 billion ($528.7 million).
Operating cash flow totaled RMB926.3 million ($141.4 million), compared with negative net cash flow of RMB63 million a year ago.
Looking ahead to the second quarter, Li Auto said it expects to deliver between 14,500 and 15,500 vehicles, a 119.6% to 134.7% increase from the second quarter of 2020.
The company said it expects total revenue to range between RMB3.99 billion ($609 million) and RMB4.27 billion ($651.7 million), up 104.6% to 119% from the second quarter of 2020.
On Tuesday, the company officially delivered the 2021 Li ONE, which Li Auto said is the first vehicle with Navigation on ADAS as a standard configuration. Deliveries will begin on June 1.
Li Auto reported net income for the first time in February as the company delivered 14,464 vehicles in the fourth quarter, a 67% year-over-year increase that was a record for the company.
In March, Needham analyst Vincent Yu initiated coverage on shares of the Chinese electric vehicle maker with a buy rating and a price target of $37.