HK Stock Market Move | LI AUTO (02015) fell nearly 4% in early trading, the company responded to the fire incident in Shanghai Ideal MEGA.

LI AUTO-W (02015) fell nearly 4% in early trading, dropping 2.99% to 84.3 Hong Kong dollars with a trading volume of 1.062 billion Hong Kong dollars as of the time of publication. According to a report from Sanxiang City News, a Li Auto Mega caught fire suddenly while driving in Xuhui District, Shanghai late on October 23, and was burned to an empty shell. On October 24, according to reports from The Paper, Li Auto responded to the Shanghai Li Auto MEGA fire incident, stating, "When the accident occurred, the doors opened smoothly, and the driver and all passengers safely exited the vehicle. We have arranged for personnel to go to the scene, and the fire department has also been involved. We will actively cooperate with the fire department's investigation and carry out follow-up work based on the investigation results." On October 1, Li Auto released its September delivery data. Li Auto delivered 33,951 vehicles in September, a year-on-year decrease of 36.8%, marking the fourth consecutive month of decline. HSBC Research released a report stating that Li Auto's new large and medium-sized five-seat pure electric SUV, the Li Auto i6, which was launched at the end of last month, has performed strongly and is expected to significantly boost the company's fourth-quarter sales. HSBC Research maintains a "buy" rating for Li Auto, but considering the pressure on sales and pricing of the EREV portfolio, it has lowered its sales forecast for 2025 to 2027 by 22% to 31%, correspondingly reducing profit forecasts by 55%, 42%, and 31%.