Understanding the Market | Li Auto-W fell over 3% with September sales down 36.8% year-on-year; institutions expect pressure on its sales and product pricing
Li Auto-W fell over 3%, down 3.48% to HKD 98.45 as of the time of publication, with a trading volume of HKD 471 million. On the news front, on October 1st, 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 on Li Auto, but considering the pressure on sales and pricing of the EREV lineup, it lowered its sales forecasts for 2025 to 2027 by 22% to 31%, and correspondingly reduced its earnings forecasts by 55%, 42%, and 31%. The target price for Hong Kong stocks was lowered from HKD 142 to HKD 118, and the target price for U.S. stocks was reduced from USD 36.5 to USD 30.3
According to Zhitong Finance APP, Li Auto-W (02015) fell over 3%, down 3.48% as of the time of writing, priced at HKD 98.45, with a transaction volume of HKD 471 million.
In terms of news, on October 1st, 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 four consecutive months of year-on-year declines. HSBC Research released a report stating that Li Auto launched its new mid-to-large five-seat pure electric SUV, the 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 on Li Auto, but considering the pressure on the sales and pricing of the EREV lineup, it lowered its sales forecasts for 2025 to 2027 by 22% to 31%, and correspondingly reduced its profit forecasts by 55%, 42%, and 31%, with the target price for Hong Kong stocks lowered from HKD 142 to HKD 118, and the target price for U.S. stocks lowered from USD 36.5 to USD 30.3
