Shares of Li Auto Inc. /zigman2/quotes/219811686/composite LI -1.54% dropped 6.3% in premarket trading Monday, after the China-based electric vehicle maker reported a second-quarter net loss that nearly tripled, revenue that fell well short of expectations and provided a downbeat third-quarter outlook, citing "numerous pandemic-related challenges." The net loss for the quarter to June 30 widened to RMB641.0 million ($95.7 million), or 64 cents per American depositary share, after a loss of RMB235.5 million, or 26 cents per ADS in the year-ago period. Excluding nonrecurring items, the adjusted loss was RMB183.4 million. The FactSet consensus was for a per-ADS loss of RMB0.17. Revenue grew 73.3% to RMB8.73 ($1.30 billion), but missed the FactSet consensus of $9.49 billion. Deliveries jumped 63.2% to 28.687 vehicles. Gross margin improved to 21.5% from 18.9%, while free cash flow fell 54.0% to RMB451.7 million ($67.4 million). For the third quarter, the company expects deliveries of 27,000 to 29,000 EVs and total revenue of RMB8.96 billion to RMB9.56 billion, while the FactSet revenue consensus is RMB14.26 billion. The stock has soared 48.9% over the past three months through Friday, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI -0.75% has gained 3.4% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.51% has advanced 6.4%.