Shares of Li Auto-W (02015) have risen more than 8%. At the time of writing, the stock is up 8% to HK$57.4, with a turnover of HK$834 million.

The move follows an announcement on June 12 that the company's new Li L8 model will officially launch on June 23. The vehicle is positioned as a "five-seat flagship SUV that makes no compromises."

Analysts have noted the company is currently in a product transition phase. It cleared inventory of older models in the first quarter, began deliveries of the L9 in May, and plans to launch and start deliveries of the new L8 Livis by the end of June. The new model is expected to feature substantial upgrades in body size, powertrain, smart hardware, and seating layout.

With the proportion of L9 deliveries increasing in the second quarter, the company has guided that its gross margin for Q2 is expected to recover to around 10%.