News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
 Content Sharing
CICC Cuts LI AUTO-W (02015.HK) TP to HKD80; 1Q26 Results In Line
CICC issued a report stating that LI AUTO-W (02015.HK) reported 1Q26 results largely in line with market expectations. Revenue was RMB22.98 billion, down YoY and QoQ. Non-GAAP net ...
Reset
Send
The window will close in 5 seconds
CICC Cuts LI AUTO-W (02015.HK) TP to HKD80; 1Q26 Results In Line
Close
Recommend
8
Positive
5
Negative
10
 
SHORT SELL
 
STOCK INFO
aacat by AASTOCKS
Open a new trading account to get 1 Intel/Selected Gold ETF share!

CICC issued a report stating that LI AUTO-W (02015.HK)  -1.850 (-3.130%)    Short selling $310.75M; Ratio 41.003%   reported 1Q26 results largely in line with market expectations. Revenue was RMB22.98 billion, down YoY and QoQ. Non-GAAP net loss was RMB2.12 billion, broadly meeting expectations.

The report noted that the companys profitability is under short-term pressure, while 2Q guidance indicates QoQ stable sales volume. Gross margin in 1Q26 was 7.9%, down 12.6 ppts YoY and 9.9 ppts QoQ. Among which, gross margin of the automobile business was 6.1%, down 13.7 ppts YoY and 10.7 ppts QoQ. The pressure on vehicle gross margin was mainly due to inventory clearance of older models, changes in product mix and purchase tax subsidies. The company expects 2Q deliveries of 95,000 to 100,000 vehicles, implying a YoY decline and a QoQ change ranging from a 0.1% decrease to a 5.1% increase.

Related NewsLatest Broker Ratings, TP and Views on LI AUTO-W (02015.HK)
The report stated that orders for the L9 have been strong since launch, with a high proportion of Livis, which is expected to contribute incremental sales in 2Q and drive improvement in product mix and gross margin. However, production capacity remains constrained in the early stage after launch, and a meaningful breakthrough in steady-state monthly sales is expected in 3Q. Based on the Mach M100 chip and the mind VLA large model, the companys intelligent driving model performance and efficiency are expected to improve. The company plans to hold a software and artificial intelligence launch event in June, which is worth close attention.

Considering cost pressure and economies of scale, CICC lowered its 2026 and 2027 Non-GAAP net profit forecasts by 70% and 23% to RMB1.1 billion and RMB8 billion, respectively. It maintained an Outperform rating and cut the TP for LI AUTO-W (02015.HK)  -1.850 (-3.130%)    Short selling $310.75M; Ratio 41.003%   and Li Auto Inc. (LI.US)      by 20% to HKD80 and USD20.8, respectively. (ha/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-04 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

Auto-translated by AI
View Original Text
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.

AASTOCKS Financial News
Copyright(C) AASTOCKS.com Limited 2000. All rights reserved.
Disclaimer: AASTOCKS.com Ltd, HKEx Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.