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%.