Hong Kong Stock Market Update: LI AUTO drops more than 5%, MEGA underperforms expectations, surpassed by Aito for two consecutive months.
Li Auto's stock price dropped by over 5%, as of the time of writing, it fell by 4.64% to HKD 146.1, with a trading volume of HKD 4.58 billion. According to media reports, the market performance of MEGA fell short of expectations. There are reports that the large orders for Li Auto's new all-electric model, MEGA, did not exceed ten thousand, and the conversion from small orders to large orders was limited. Within 72 hours of its launch, the number of large orders for this model was around 3,218, while cancellations amounted to 10,297. Some analysts believe that if MEGA sales fall short of expectations, it may be related to product positioning. On one hand, MEGA is priced relatively high and is in a niche MPV market. On the other hand, MEGA is positioned for multi-child family users, which deviates from the existing MPV business user base. Additionally, in January and February of this year, Li Auto's monthly sales have been surpassed by Aito for two consecutive months. In February 2024, Li Auto delivered a total of 20,251 new vehicles, a year-on-year increase of 21.8% but a 35% decrease from the previous month. Li Auto's Chairman and CEO, Li Xiang, stated that with the release and delivery of new models (Li Auto MEGA and the 2024 Li Auto L series models), our goal is to return to a monthly delivery level of 50,000 vehicles by March.
Zhitong App has learned that Li Auto (02015) dropped by over 5%, as of the time of publication, it fell by 4.64% to HKD 146.1, with a turnover of HKD 4.58 billion.
On the news front, according to media reports, the market performance of MEGA fell short of expectations. There are reports that the large orders for Li Auto's new all-electric model, MEGA, did not exceed ten thousand, and the conversion from small orders to large orders was limited. Within 72 hours of its launch, the number of large orders for this model was around 3,218, while the number of cancellations was 10,297. Some analysts believe that if MEGA sales fall short of expectations, it may be related to product positioning. On the one hand, MEGA is priced relatively high and is in a niche MPV market. On the other hand, MEGA is positioned for multi-child family users, which deviates significantly from the existing MPV business users.
In addition, in January and February of this year, Li Auto's monthly sales have been surpassed by Aito for two consecutive months. In February 2024, Li Auto delivered a total of 20,251 new vehicles, an increase of 21.8% year-on-year, but a decrease of 35% month-on-month. Li Auto's Chairman and CEO, Li Xiang, stated that with the release and delivery of new models (Li Auto MEGA and the 2024 Li Auto L series models), our goal is to return to a monthly delivery level of 50,000 vehicles by March.