Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

Aug. 30, 2021, 6:24 a.m. EDT

Li Auto's stock rallies after surprise loss but revenue beat expectations, and outlook was upbeat

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Li Auto Inc. ADR (LI)
  • X
    iShares MSCI China ETF (MCHI)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Li Auto Inc. /zigman2/quotes/219811686/composite LI +6.07% rallied 2.9% in premarket trading Monday, after the China-based electric vehicle maker reported a surprise second-quarter loss but revenue that beat expectations as deliveries nearly tripled and provided an upbeat outlook. Net losses narrowed to RMB235.5 million ($36.5 million), or RMB0.26 per American depositary receipt, from RMB345.2 million, or RMB2.71 per ADS, in the year-ago period. Excluding nonrecurring items, the adjusted per-ADS loss was RMB0.07, compared with the FactSet consensus for breakeven. Total revenue jumped 158.8% to RMB5.04 billion ($780.4 million), beating expectations of RMB4.68 billion, according to FactSet. Deliveries for the second quarter grew 166.1% to 17,575, and for July, the company said Li ONE deliveries increased 251.3% to 8,589. For the third quarter, the company expects total revenue of RMB6.98 billon ($1.08 billion), compared with the FactSet consensus of RMB5.52 billion, and projects deliveries to rise 188.7% to 200.2% to 25,000 to 26,000 vehicles. The stock has rallied 25.9% over the past three months through Friday, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI +0.33% has dropped 15.7% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.47% has gained 7.3%.

/zigman2/quotes/219811686/composite
US : U.S.: Nasdaq
$ 34.25
+1.96 +6.07%
Volume: 13.22M
Oct. 25, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$32.85 billion
Rev. per Employee
$327,692
loading...
/zigman2/quotes/206267952/composite
US : U.S.: Nasdaq
$ 72.72
+0.24 +0.33%
Volume: 2.78M
Oct. 25, 2021 4:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,566.48
+21.58 +0.47%
Volume: 1.85B
Oct. 25, 2021 5:26p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.