LI AUTO-W (02015) saw a sharp decline of nearly 14%, dropping 13.69% to HK$65.25 by press time, with a turnover of HK$2.178 billion. The company recently officially launched its embodied intelligent flagship SUV—the all-new generation Li Auto L9. The new vehicle is available in two versions: the Ultra edition and the Livis edition. The Ultra edition has a nationwide unified retail price of ¥459,800, while the Livis edition is priced at ¥509,800, with deliveries scheduled to commence from May 17. Citi released a research report stating that the final price of the L9 Livis edition is ¥70,000 lower than the pre-sale price. While this may seem like a pleasant surprise, the bank believes its actual value-for-money is only on par with competitors in the same class and does not represent a game-changer. Citi expects monthly sales of the L9 Livis to reach 1,000 units. As for the L9 Ultra edition, which has a ¥50,000 price difference from the Livis edition, Citi views the overall pricing as neutral and anticipates monthly sales of 4,000 units. Overall, Citi considers the launch of the L9 Ultra and Livis editions to be a neutral outcome.