Understanding the Market | Li Auto-W fell nearly 4% in early trading, company responds to the Shanghai Li Auto MEGA fire incident
Li Auto-W fell nearly 4% in early trading, and as of the time of writing, it has dropped 2.99%, trading at HKD 84.3, with a transaction volume of HKD 1.062 billion. Due to a fire in a Li Auto MEGA in Shanghai, Li Auto responded that the doors opened smoothly during the incident, and all passengers safely exited the vehicle. September delivery data decreased by 36.8% year-on-year. HSBC Research maintains a "Buy" rating but has lowered its sales and profit forecasts for 2025 to 2027
According to Zhitong Finance APP, Li Auto-W (02015) fell nearly 4% in early trading, and as of the time of writing, it was down 2.99%, priced at HKD 84.3, with a transaction volume of HKD 1.062 billion.
In terms of news, according to Sanxiang Metropolis Daily, on the night of October 23, a Li Auto Mega suddenly caught fire while driving in the Xuhui District of Shanghai, burning down to its frame. On October 24, according to The Paper, Li Auto responded to the fire incident involving the Li Auto MEGA in Shanghai, stating, "When the incident occurred, the doors opened smoothly, and the driver and all passengers safely exited the vehicle. We have arranged for personnel to handle the situation on-site, and the fire department has also intervened. We will actively cooperate with the fire department's investigation and carry out follow-up work based on the investigation results."
On October 1, Li Auto announced its delivery data for September. Li Auto delivered 33,951 vehicles in September, a year-on-year decrease of 36.8%, marking a consecutive four-month decline. HSBC Research released a report stating that Li Auto launched the new mid-to-large five-seat pure electric SUV, Li Auto i6, at the end of last month, which performed strongly after its launch and is expected to drive a significant rebound in the company's sales in the fourth quarter. HSBC Research maintained a "Buy" rating for Li Auto but, considering the sales and pricing pressures of the EREV lineup, lowered its sales forecasts for 2025 to 2027 by 22% to 31%, and correspondingly reduced its profit forecasts by 55%, 42%, and 31%
