HK Stock Market Move | LI AUTO (0215) surged over 4% as accumulated deliveries of the L6 model surpassed 100,000 units. The gross profit margin of the car is expected to further increase.

LI AUTO-W (02015) rose more than 4%, as of press time, it rose 4.06% to HK$82.1, with a turnover of HK$8.65 billion. On the news front, Li Auto announced today that the cumulative delivery of Li X6 has exceeded 100,000 units in the 5 months since its launch. Tianfeng pointed out that the company's fundamentals in the 3rd and 4th quarters are expected to gradually improve, and with the acceleration of subsidies and preferential policies in various regions, overall demand momentum is expected to increase. The bank expects the automobile gross profit margin to further release, and believes that Li Auto is expected to release elasticity in gross profit and net profit in the second half of the year. The bank gave Li Auto a "buy" rating, and expects the company's adjusted net profit for 2024/2025 to be 105/148 billion yuan (previously 139 billion yuan for 2024).