Li Auto's (LI, 2015.HK) shares soared on Monday morning following the Chinese EV company's outperformance in fourth-quarter earnings. Li Auto achieved its first-ever annual net profit, driven by delivering an impressive 131,805 vehicles in the quarter, marking a near triple increase in deliveries year-over-year.

The automaker reported a gross profit of approximately 1.38 billion US dollars for the fourth quarter, reflecting a substantial 174.4% increase from the previous year. With a notable margin of 22.7% per vehicle during the same quarter, Li Auto has demonstrated resilience in adapting to consumer demand and navigating through intense regional competition.

Despite expecting a potential pullback in the upcoming quarter, Li Auto's exceptional performance and strategic growth plan have instilled confidence in investors. The company's total deliveries for the year reached 376,000 vehicles, strengthening its position and enhancing its competitive edge in the continuously evolving market landscape.

The positive reception from the market resulted in Li Auto's stock surging by approximately 11% in pre-market trading, as investors reacted favorably to the groundbreaking achievement of the company's first annual net profit. The impressive financial results and robust delivery figures signify Li Auto's ability to thrive amidst industry challenges, further solidifying its place as a leading player in the electric vehicle sector.