Bearish bets on Li Auto's Hong Kong-listed shares surged to a historic high ahead of the electric vehicle maker's third-quarter earnings release. According to S&P Global data, short interest in the company's Hong Kong stock rose to 8.1% of its free float as of Friday, marking a record level.
Facing intense competition in the domestic auto market, Li Auto's shares have fallen about 23% year-to-date, making it the second-worst performer in the Hang Seng China Enterprises Index.
The company is set to report earnings later on Wednesday. Disclosed figures show Li Auto delivered 93,211 vehicles in Q3, down 39% year-over-year.