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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Meituan Dianping    3690   KYG596691041

MEITUAN DIANPING

(3690)
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Chinese electric vehicle maker Li Auto files for U.S. listing

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07/11/2020 | 04:08am EDT
A man with a face mask walks by television screens outside the Nasdaq Market Site, after further cases of coronavirus were confirmed in New York, at Times Square in New York

Chinese electric vehicle (EV) maker Li Auto Inc, backed by food delivery giant Meituan Dianping, has filed for a U.S. initial public offering.

Chinese electric vehicle (EV) maker Li Auto Inc, backed by food delivery giant Meituan Dianping, has filed for a U.S. initial public offering.

The move, announced on Friday, comes as share prices of EV makers including Tesla Inc and Nio Inc have surged in recent months.

Five-year-old Li Auto, formerly known as CHJ Automotive, is building Li ONE extended-range electric sport-utility vehicles in China's eastern city of Changzhou.

Unlike rival Tesla and Nio's pure battery electric vehicles, Li ONE allows drivers to charge their cars with electricity or gasoline. Li Auto has 21 showrooms in China, the world's biggest auto market, and aims to operate 60 by the end of this year.

The Beijing-based company, led by chief executive Li Xiang, sold 9,666 vehicles in the first six months this year. China's overall electric vehicle market, however, fell for the twelfth straight month in June.

In a filing to U.S. Securities and Exchange Commission, Li Auto said it intends to list its shares on the Nasdaq under the symbol "LI" .

Goldman Sachs, Morgan Stanley and UBS are the underwriters for the IPO.

Reuters reported in January that Li Auto filed for a U.S. initial public offering, aiming to raise at least $500 million, citing people familiar with the matter.

(Reporting by Yilei Sun and Brenda Goh; Editing by Raju Gopalakrishnan)

Stocks mentioned in the article
ChangeLast1st jan.
MEITUAN DIANPING 8.67% 218 End-of-day quote.113.94%
MORGAN STANLEY 0.04% 49.44 Delayed Quote.-3.25%
NASDAQ COMP. -0.06% 10896.496067 Delayed Quote.21.51%
NIO LIMITED 1.25% 13.8037 Delayed Quote.238.31%
TESLA, INC. -0.89% 1472.58 Delayed Quote.254.98%
THE GOLDMAN SACHS GROUP, INC. 0.37% 200.055 Delayed Quote.-13.90%
UBS GROUP AG 0.83% 11 Delayed Quote.-10.88%
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Financials
Sales 2020 111 B 15 887 M 15 887 M
Net income 2020 329 M 47,1 M 47,1 M
Net cash 2020 28 907 M 4 140 M 4 140 M
P/E ratio 2020 2 610x
Yield 2020 -
Capitalization 1 281 B 165 B 184 B
EV / Sales 2020 11,3x
EV / Sales 2021 7,65x
Nbr of Employees 54 580
Free-Float 70,0%
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Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 160,85 CNY
Last Close Price 218,00 CNY
Spread / Highest target -0,02%
Spread / Average Target -26,2%
Spread / Lowest Target -63,0%
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Managers
NameTitle
Xing Wang Chairman & Chief Executive Officer
Shao Hui Chen Chief Financial Officer & Senior Vice President
Heung Yeung Shum Independent Non-Executive Director
Xue Song Leng Independent Non-Executive Director
Nan Peng Shen Non-Executive Director
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