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LI AUTO INC.

(LI)
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Chinese EV Maker Li Auto Plans to List in Hong Kong

07/26/2021 | 01:48am EDT

By Yongchang Chin

Electric-vehicle maker Li Auto Inc. plans to list on the Hong Kong stock exchange, making it the latest U.S.-listed Chinese company seeking to tap investors closer to home.

It will join fellow EV-maker XPeng Inc., already listed on the New York Stock Exchange, in trading in Hong Kong. XPeng raised 13.79 billion Hong Kong dollars (US$1.77 billion) in net proceeds from the offering.

Nasdaq-listed Li Auto has appointed Goldman Sachs and China International Capital Corp. as joint sponsors for the listing, a filing on Monday showed. UBS is also advising on the deal.

Online retailer and food-delivery platform provider Meituan is among Li Auto's investors, holding a 13.2% equity.

The filing didn't disclose the timing nor the size of the offer.

Li Auto said it will use the funds raised for research and development of battery technology as well as intelligent vehicles and autonomous driving technologies.

The company will also expand the number of charging points available in its current markets.

Li Auto recorded a net loss of US$276.7 million on revenue of US$1.44 billion in 2020.

Chinese EV makers such as Li Auto, XPeng and NIO Inc. have joined their American counterparts in tapping U.S. markets for funds, capitalizing on investor bullishness about the industry's prospects.

Many big U.S.-listed Chinese companies, including Alibaba Group Holding Ltd. and JD.com Inc., have in recent years obtained Hong Kong listings, partly as a hedge against risks arising from prolonged U.S.-China tensions.

Write to Yongchang Chin at yongchang.chin@wsj.com

(END) Dow Jones Newswires

07-26-21 0147ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.86% 150.18 Delayed Quote.-35.47%
CHINA INTERNATIONAL CAPITAL CORPORATION LIMITED 0.49% 20.6 End-of-day quote.-1.90%
DJ INDUSTRIAL -0.15% 33919.84 Delayed Quote.13.00%
LI AUTO INC. 0.56% 27.06 Delayed Quote.-6.14%
MEITUAN -1.71% 230.6 End-of-day quote.-21.72%
NASDAQ COMP. 0.22% 14746.397621 Real-time Quote.14.17%
NIO INC. -0.77% 34.9 Delayed Quote.-28.40%
XPENG INC. 0.41% 36.74 Delayed Quote.-14.22%
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Analyst Recommendations on LI AUTO INC.
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Financials
Sales 2021 25 185 M 3 895 M 3 895 M
Net income 2021 -934 M -144 M -144 M
Net cash 2021 15 215 M 2 353 M 2 353 M
P/E ratio 2021 -193x
Yield 2021 -
Capitalization 178 B 27 498 M 27 493 M
EV / Sales 2021 6,46x
EV / Sales 2022 4,28x
Nbr of Employees 6 596
Free-Float 10,5%
Chart LI AUTO INC.
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Technical analysis trends LI AUTO INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 15
Last Close Price 27,06 $
Average target price 44,20 $
Spread / Average Target 63,3%
EPS Revisions
Managers and Directors
Xiang Li Chairman & Chief Executive Officer
Ya Nan Shen President & Executive Director
Tie Li Chief Financial Officer & Executive Director
Dong Hui Ma Chief Engineer
Kai Wang Chief Technology Officer
Sector and Competitors
1st jan.Capi. (M$)
LI AUTO INC.-6.14%27 498
TESLA, INC.4.78%731 997
NIO INC.-28.40%57 188
XPENG INC.-14.22%31 440
NIKOLA CORPORATION-29.82%4 296
FISKER INC.-8.74%3 959