Li Auto’s shares
2015,
rose sharply in Hong Kong after the Chinese electric-vehicle maker roundly beat earnings expectations with jumps in quarterly revenue and income on the again of rising demand for its SUVs and different automobiles.
Shares have been 20% larger at 167.10 Hong Kong {dollars} (US$21.36), on observe for his or her greatest one-day share achieve in virtually two years. The bounce, which got here after a steep rise in U.S.-listed ADRs
LI,
in a single day, pulled shares into the inexperienced for the 12 months, and took 12-month beneficial properties to 80%.
Li Auto mentioned late Monday that fourth-quarter income greater than doubled in contrast with the identical interval a 12 months earlier to 41.73 billion yuan (US$5.80 billion) on a close to tripling of deliveries led by its flagship SUVs. Quarterly revenue doubled on 12 months, serving to push the corporate to its first full-year revenue.
Deutsche Bank analyst Edison Yu mentioned in a analysis notice that larger common promoting costs helped Li Auto beat income expectations, and described its quantity outlook within the first quarter as higher than anticipated. Li Auto guided for first-quarter deliveries of 100,000-103,000 autos, down from the fourth quarter however larger from a 12 months earlier.
CCB International analyst Ke Qu referred to as the outcomes “very robust,” saying they have been additional proof of Li Auto’s “strong supply chain management capability.” He added that the anticipated sequential drop in first-quarter quantity is probably going as a result of seasonal results from Lunar New Year holidays, together with larger deliveries from up-and-coming competitor Huawei-backed Seres, whose January gross sales surpassed these of Li Auto’s.
Analysts additionally like Li Auto’s plans for releases for the remainder of the 12 months, with the corporate saying Monday they’d launch 5 new fashions in 2024 and promote as much as 800,000 items in complete.
“Li Auto has a solid pipeline and business plan for 2024 and they are quite confident in shipment delivery into the following quarters,” Nomura analyst Joel Ying mentioned. “It seems that they are well prepared for the market situation in 2024.”
Source web site: www.marketwatch.com
