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LI AUTO INC.

(LI)
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Li Auto Seeks to raise around US$1.9 Billion in Hong Kong Offering

08/02/2021 | 04:59pm EDT

By P.R. Venkat

Chinese electric vehicle maker Li Auto Inc. plans to raise as much as 15 billion Hong Kong dollars (US$1.93 billion) through a share offering in Hong Kong.

The company plans to sell 100 million shares and has set a maximum price of HK$150 each for the stock that is expected to start trading on the Hong Kong exchange from Aug.12, Li Auto said Tuesday.

Li Auto is following its fellow EV-maker XPeng Inc. which also listed on the Hong Kong exchange last month to raise US$1.8 billion. Xpeng listed on the New York Stock Exchange last year.

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.

Li Auto had said in its draft prospectus that it will use the funds raised from the offering for research and development of battery technology as well as intelligent vehicles and autonomous driving technologies. It will also expand the number of charging points available in its current markets.

The company that is listed on the Nasdaq counts online retailer and food-delivery platform provider Meituan among its investors holding a 13.2% equity.

Goldman Sachs, China International Capital Corp. and UBS are advising Li Auto on the offering.

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

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

08-02-21 1859ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -4.04% 145.08 Delayed Quote.-37.66%
CHINA INTERNATIONAL CAPITAL CORPORATION LIMITED 0.00% 20.75 End-of-day quote.-1.19%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.59%
LI AUTO INC. -4.25% 26.11 Delayed Quote.-9.43%
MEITUAN 0.82% 244.6 End-of-day quote.-16.97%
NASDAQ COMP. -0.03% 15047.699032 Real-time Quote.16.79%
XPENG INC. -3.99% 35.34 Delayed Quote.-17.49%
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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 -186x
Yield 2021 -
Capitalization 172 B 26 532 M 26 532 M
EV / Sales 2021 6,21x
EV / Sales 2022 4,11x
Nbr of Employees 6 596
Free-Float 10,5%
Chart LI AUTO INC.
Duration : Period :
Li Auto Inc. Technical Analysis Chart | LI | US50202M1027 | MarketScreener
Technical analysis trends LI AUTO INC.
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TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 15
Last Close Price 26,11 $
Average target price 44,20 $
Spread / Average Target 69,3%
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
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