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<Research>CLSA Slashes LI AUTO-W (02015.HK) TP by Over Half to HKD68, Sharply Cuts Revenue/ Profit Forecasts
Recommend 4 Positive 3 Negative 5 |
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CLSA issued a report on LI AUTO-W (02015.HK), which swung from profit to loss in 1Q26 due to changes in product mix, destocking and increased discounts, recording a net loss of RMB2.3 billion, or an adjusted net loss of RMB2.1 billion. The broker forecast the company to face challenges including a slower pace of new model launches, inventory pressure and increased spending on new businesses, with the duration possibly longer than previously anticipated. CLSA expected LI AUTO-W's sales growth to slacken this year, trimming its 2026 revenue and profit forecasts by 54% and 124% respectively to RMB115.298 billion and a loss of RMB4.586 billion. It also slashed 2026's sales volume forecast from 997,000 units to 434,000 units. The broker extended its valuation basis to 2028, expecting sales to gradually recover by then. The TP for LI AUTO-W H shares was sharply reduced from HKD140 to HKD68, a cut of over 50%, while the US share TP was halved from USD36 to USD18. The Outperform rating was reiterated. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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