Hong Kong Stock Market Update | LI AUTO falls nearly 7%, hitting an 8-month low. Sales trend weakens as it is overtaken by competitors for two consecutive weeks.
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LI AUTO's stock price has fallen nearly 7%, reaching a new low since May last year, with a turnover of HKD 587 million. LI AUTO has been overtaken in the weekly sales ranking of new energy vehicle brands for two consecutive weeks, indicating a weakening sales trend. Due to market slowdown and intensified competition, LI AUTO has reduced the price of its products by 8% to 10%, leading to a downward revision of its net profit forecast by Dahua Securities. The bank has also lowered its delivery volume forecast for this year and the next.
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