$Li Auto(LI.US)'s darkest moment was probably when the updated L series was officially unveiled. All its cards had already been played by its competitors months ago, and even the path of price wars was completely exhausted, so I'm not optimistic about this line's refresh at all. I don't understand how with so much cash on hand, R&D efficiency is so poor, and yet some people still think it's a stable happiness—did they even share any profits with you?

The i series isn't a good breakthrough point, but it's the only direction Li Auto can continue to pursue without being crushed by competition. I think the massive price cut of the i68 and the super flop of the i9 were both expected. Selling the i9 for over 35 is very risky. Those who think this is absurd can come back later—we're witnessing a bad business heading toward an even worse state just to remain a business.