Understanding the market | Why did LI Auto drop 8% today?

On Tuesday, March 19th, Li Auto's Hong Kong stock plummeted by 8%, with a stock price of HKD 127.9.

The reason for Li Auto's sharp decline? It is related to the new model MEGA!

According to reports, Li Auto had expected around 3,000 orders for MEGA within 24 hours, but the final result fell short of expectations, only achieving half of the target. MEGA received nearly 4,000 orders within half a month, while the factory's production capacity for MEGA this month is 5,000 units.

Reports indicate that the core management team of Li Auto is currently discussing whether to lower MEGA's annual sales target to 50,000-60,000 units, but the specific numbers have not been confirmed yet