HK Stock Market Move | LI AUTO (02015) fell more than 3% with new car deliveries in May dropping 18.37% year-on-year.

LI AUTO-W (02015) fell more than 3%, as of the time of publication, it dropped by 3.33% to 56.6 Hong Kong dollars, with a turnover of 155 million Hong Kong dollars. On the news front, on June 1st, several car companies disclosed their delivery data for May. Among them, the data released by Li Auto showed that in May 2026, it delivered 33,400 new cars, a year-on-year decrease of 18.37% and a slight decrease of about 2% month-on-month. Previously, Li Auto's first-quarter report showed that the company achieved a total revenue of 23 billion yuan during the period, a year-on-year decrease of 11.4% and a decrease of 20.1% month-on-month; a net loss of 2.3 billion yuan, compared to a net profit of 647 million yuan in the same period last year, resulting in a shift from profit to loss. Morgan Stanley recently pointed out in a research report that their long-term view of Li Auto remains cautious, believing that the fiercely competitive market environment means limited potential for surprise in sales and profitability. The bank maintained a "reduce" rating on Li Auto, lowering its Hong Kong stock target price from 60 Hong Kong dollars to 56 Hong Kong dollars.