Li Auto announced today that on March 18, the company issued 18.862 million Class A ordinary shares to the depositary to meet the exercise demand for the stock-based incentive plans in 2019 and 2020. Based on the closing price of Hong Kong stocks at 107.7 Hong Kong dollars on March 19, the total value of the newly issued shares is approximately 2.032 billion Hong Kong dollars (equivalent to about 1.89 billion yuan at the current exchange rates). This is the first time Li Auto has released treasury shares through a Stock-based Incentive plan. In response to this, Li Auto stated that this issuance is to meet the future needs of employee equity incentive vesting and exercise.