shares of li auto inc li rallied 45 in premarket trading monday after the chinabased electric vehicle ev maker reported a fourthquarter profit that was more than double what was expected even as revenue came up a bit shy net income fell to rmb2659 million 373 million or rmb025 per american depositary share from rmb2955 million or rmb029 per ads in the yearago period excluding nonrecurring items adjusted earnings per share of rmb098 beat the factset consensus of rmb047 total revenue grew 662 to rmb1765 billion 256 billion below the factset consensus of rmb1782 billion deliveries increased 315 to 46319 evs cost of sales grew 709 to rmb1408 billion as gross margin contracted to 202 from 224 for the first quarter the company expects deliveries of between 52000 and 55000 evs and revenue of between rmb1745 billion and rmb1845 billion compared with the factset consensus of rmb1757 billion the stock has soared 382 over the past three months through friday while the ishares msci china exchangetraded fund mchi has climbed 122 and the sp 500 spx has slipped 14