Li Auto leads slide in EV makers, analysts cut TP on competition concerns

Li Auto

02/06/2025 07:44

** Shares of Li Auto 2015.HK fall 5.1% to HK$106.6, set for the biggest one-day pct drop since April 7

** Stock leading slide in Hong Kong-listed Chinese electric vehicle makers

** HSBC keeps "buy" rating on stock on solid execution and pick up of NEV product cycle; cuts TP to HK$142 from HK$150, citing lower volume outlook amid rising competition among others

** HSBC cuts TP on Li Auto's U.S. shares LI.O to $36.5 from $38.5

** UOB Kay Hian maintains "buy" but cuts TP to HK$145 from HK$160

 ** Y/Y, Li Auto's May vehicles delivery rose 16.7%, BYD's 1211.HK new energy vehicle sales volume up 15.3%, NIO 9866.HK delivery up 13.1%

** China called on Saturday for its automotive industry to halt brutal price wars, as a threat to the sector's health and sustainable development, after key executives jousted over pricing pressure following large discounts offered to buyers

** Hong Kong stocks of Geely 0175.HK, Great Wall Motor 2333.HK, Xpeng 9868.HK, BYD Co, NIO, Guangzhou Automobile 2238.HK fall between 1.4% and 4%

** Hang Seng Automobile Index .HSAMI declines 2.2%, Hang Seng Tech Index .HSTECH falls 1.9%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))