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LI AUTO-W Crumbles 10%+; 4Q Car Delivery Outlook Conservative
Recommend 12 Positive 8 Negative 7 |
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LI AUTO-W (02015.HK)(LI.US) today (1 November) followed the lead of its US stock decline overnight (31 October), opening 8.01% lower at $98.8. In the early session, it dived 11.5% to bottom at $95. It last traded at $95.5, down 11.08%, with 11.9282 million shares traded, involving $1.157 billion. Li Auto ADR (LI.US) cascaded 13.58% to US$25.01 overnight. Although the company's non-GAAP net profit in 3Q rose 10.6% YoY, it is expected to deliver only 160,000-170,000 vehicles in 4Q. This is equivalent to a YoY rise of 21.4%-29%, which is lower than the 45.4% increase in delivery volume in 3Q. The market considered that the outlook for 4Q is too conservative. AAStocks Financial News |
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