Market Insight | LI AUTO-W drops over 4% as market doubts future product strength, institutions say company still has high growth confidence

LI AUTO-W is now down more than 4%, as of the deadline, down 4.06% to HKD 74.5, with a turnover of HKD 685 million. West Securities pointed out that the market believes that LI AUTO's previous success was mostly due to accidental factors, and is skeptical about its future product strength. We believe that the success of LI AUTO's extended-range SUV comes from the resonance of both demand and supply sides, reflecting the company's ability to grasp user demand and build high-quality products. Based on this, we believe that LI AUTO's future products are expected to replicate the success of the L series, and new pure electric vehicles are also expected to sell well. GF Securities, on the other hand, pointed out that the company's three historical turning points reflect its medium- to long-term vitality, rapid correction mechanism, and continuous iterative capability. In the short term, the core focus is on the company's performance in the high-end car market share, the potential breakthrough space in overseas exports, and the volume verification of the listing of pure electric models. The bank believes that LI AUTO still has a high growth confidence