China's Li Auto Hong Kong shares hit 3-1/2-year low on Q1 results miss

Li Auto

29/05/2026 07:13

** Hong Kong shares of Li Auto 2015.HK fall 7.9% to HK$55.7, their lowest level since November 2022
** Stock set for biggest one-day pct drop since May 18
** U.S.-listed stock LI.O slid 1.5% on Thursday
** China's new energy vehicle maker said its Q1 revenue down 11.4% y/y, vehicle sales fell 12.7% y/y, and net loss amounted to 2.3 bln yuan ($339.72 mln), as compared with net income of 646.6 mln yuan the same period a year ago
** UOB Kay Hian trims target price to HK$40 from HK$45, maintains "Sell"; says 1Q26 results missed expectations while 2Q26 delivery and revenue guidance points to steep y/y declines, missing estimates
** Citi says 1Q revenue and net loss missed market expectation; lowers target price of the Hong Kong shares to HK$61.1 from HK$72.7 and U.S. stock to $15.9 from $18.9 
** Nomura maintains "Neutral" rating, saying 1Q26 becomes the biggest loss-making quarter since its listing and 2Q26 guidance looks unexciting
** YTD, Hong Kong stock down 11.2%, U.S.-listed shares down 8.2%


($1 = 6.7703 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))