Market Insight | LI AUTO-W Up Nearly 5% as Company Sales Stabilize and Rebound in September and October, Expected to Continue to Rise in Golden September and Silver October

LI AUTO-W is now up nearly 5%, as of the time of publication, up 5.11% to HKD 78.15, with a turnover of HKD 7.18 billion. On the news front, in July, LI AUTO delivered 51,000 new vehicles, a year-on-year increase of 49.4%, reaching a historical high. The LI ONE performance remains outstanding, with sales exceeding 20,000 for two consecutive months. Shenwan Hongyuan pointed out that in the first half of the year, sales in April hit a low point at 25,800 units, gradually increasing to 35,000, 48,000, and 51,000 units from May to July, further proving that under intensified competition, the company's product strength remains robust, returning after the MEGA phase impact. We believe that with the industry's recovery in the traditionally strong September and October sales season, the company's sales are expected to further increase. In addition, the company's intelligent driving technology has undergone a major update, with LI AUTO NOA entering the era of full-scenario autonomous driving. Shenwan Hongyuan pointed out that although intelligence has always been a focus area, a true "consumption inflection point" has not been formed before. It is expected that as Chinese car companies continue to increase their market share in high-end listings, "urban intelligence" may become a catalyst for orders and sales, with its importance becoming increasingly prominent in the future