On September 17, LI AUTO-W fell 3.1% in regular trading, trading at HKD 45.2 per share, with turnover of HKD 159 million.

The decline came as the broader automobile manufacturing sector sold off collectively. BYD COMPANY fell 1.52%, GEELY AUTO dropped 2.3%, NIO-SW declined 1.83%, and XPENG-W slipped 1.29%. Market sentiment was further weighed down by industry-wide concerns after a research note projected September domestic passenger vehicle sales could fall approximately 24% year-over-year due to high base effects from prior demand pull-forward.

On the company-specific front, LI AUTO-W has been actively restructuring its battery supply chain, shifting from reliance on CATL toward a self-developed battery strategy. The company recently invested RMB 2.65 billion in Sunwoda Power, becoming its second-largest shareholder, and has introduced CALB as a third battery supplier. While the long-term strategic rationale supports cost control and supply autonomy, the transition has raised short-term uncertainty around cost management and production ramp-up. Additionally, the company reported a first-half net loss attributable to shareholders of RMB 3.981 billion, with consolidated gross margin declining sharply to 9.55% from 20.27% in the year-ago period.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)