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Li Auto Inc Ordinary Shares - Class A 02015

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Stock XHKG Rating as of
HK$45.08 +1.70 (3.92%)
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Li Auto Has a Strong PHEV Portfolio but Lacks a Clear BEV Strategy and Track Record

Vincent Sun

Li Auto is a leading new energy vehicle manufacturer in China, producing plug-in hybrid electric SUVs for family car use. Li Auto put a lot of effort into its range-extension powertrain, which has become a key selling point for its value-for-money vehicles. As it uses less battery, plug-in hybrid electric vehicles offer significant price advantages compared with battery electric vehicles. Its first model, the six-seater Li One SUV, is built on its proprietary extended-range electric vehicle technology, offering a total driving range of 800 kilometers. Unlike competitors, Li Auto adopts a single-point pricing strategy for enhanced price transparency.

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Price vs Fair Value

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02015 is trading within a range we consider fairly valued.
Price
HK$45.08
Fair Value
D&q
Uncertainty
LOCK|Y# #$?S
1-Star Price
LOCK|C.y@g
5-Star Price
LOCK|.V
Economic Moat
LOCK|xS
Capital Allocation
LOCK|r?ws!P

Bulls Say, Bears Say

Bulls

Li Auto’s strong product capacity, targeting family car users and focusing on the mid- to large-size SUV segment, will ensure the success of future NEV models, including but not limited to extended range electric vehicles.

Bears

Li Auto’s range-extension vehicles will face increasing pressure as the industry moves to pure electric models, while the company lacks track record in pure electric vehicles.

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Trading Information

Previous Close Price
HK$43.38
Day Range
HK$44.28–46.04
52-Week Range
HK$41.70–87.15
Bid/Ask
HK$45.06 / HK$45.08
Shares Outstanding
1.95B
Market Cap
HK$88.11B
Volume/Avg
12M / 9M

Key Statistics

Price/Earnings (Normalized)
41.14
Price/Sales
0.80
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Dividend Payment Schedule
—
Total Yield
—

Company Profile

Li Auto is one of China's leading new energy vehicle manufacturers. Founded in 2015, the company designs, develops, manufactures, and sells premium smart NEVs with a particular focus on family size premium SUVs and MPVs. Li Auto started volume production of its first model—the Li One, an SUV that is a premium plug-in electric vehicle- in November 2019. Besides PHEVs, its product portfolio now extends to EVs that are fully battery-powered, reaching a wide audience. It has sold over 400,000 NEVs in 2025, accounting for about 3% of China's passenger NEV market.
Sector
Consumer Cyclical
Industry
Auto Manufacturers
Stock Style Box
Large Value
Total Number of Employees
30,728
Website
https://www.lixiang.com

Competitors

Valuation

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Metric
02015
TSLA
NIO
Price/Earnings (Normalized)
 41.14204.75—
Price/Book Value
 1.1916.5813.87
Price/Sales
 0.8012.800.49
Price/Cash Flow
 —91.10—
Price/Earnings
02015
TSLA
NIO

Financial Strength

Metric
02015
TSLA
NIO
Quick Ratio
 1.571.230.68
Current Ratio
 1.811.741.02
Interest Coverage
 −30.158.08−4.11
Quick Ratio
02015
TSLA
NIO

Profitability

Metric
02015
TSLA
NIO
Return on Assets (Normalized)
 −2.46%5.47%−3.39%
Return on Equity (Normalized)
 −5.24%9.35%−135.01%
Return on Invested Capital (Normalized)
 −5.69%6.77%−9.12%
Return on Assets
02015
TSLA
NIO

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