Shares of Li Auto Inc. (02015.HK) plunged 9.52% on Monday, leading a sharp downturn among Hong Kong-listed Chinese electric vehicle makers just days after the company launched its new flagship model.
The abrupt sell-off contrasts with Wall Street's generally constructive view on the company. Of 27 analysts covering the stock, 11 maintain a "Buy" rating, while 13 have a "Hold," according to data from 24/7 Wall St. The firm's own analysis suggests a potential 43.8% upside from recent price levels, setting a target of $26.62.
The weakness was sector-wide, with rival Leapmotor (09863.HK) falling 7.78% and Great Wall Motor (02333.HK) declining 3.39%. The move reverses a period of optimism, where shares of EV makers, including Li Auto, had risen sharply just last week in anticipation of new model releases that were expected to attract buyers with advanced technology.
This downturn places a significant spotlight on Li Auto's fundamentals ahead of its first-quarter 2026 earnings announcement, scheduled for before the U.S. market opens on May 28. The stock's performance comes immediately after the official launch of its all-new Li L9 six-seat family SUV on May 15, with first deliveries having commenced on May 17. The vehicle is a critical product for the company, priced from RMB459,800. Investors will now be closely watching for any commentary on initial order momentum and the outlook for the rest of the year.
This article is for informational purposes only and does not constitute investment advice.
