According to the Zhongtong Finance app, CCB International released a research report stating it maintains a 'buy' rating for Li Auto Inc. (02015), with the target price increased from HK$130 to HK$140.

In the third quarter, Li Auto Inc.'s total revenue increased by 35.3% quarter-on-quarter, achieving a historical high in operating profit, reaching 3.4 billion RMB, exceeding expectations. The company forecasts delivery volume for the fourth quarter to be between 0.16 million and 0.17 million units, indicating a quarterly growth rate lower than the industry average and the previous quarter. However, considering the short-term production capacity constraints of the L6 model, which is still improving, and the supply-demand imbalance, the situation is deemed within expectations.

The report points out that although there is no specific news, the company is believed to be well-prepared for the upcoming launch of pure electric (BEV) vehicles, including the wider availability of the 5C ultra-fast charging network and significant advancements in autonomous driving (AD) technology. As for extended-range electric vehicle (EREV) models, the production capacity release of the L6 model early next year and the introduction of redesigned L-series models will enhance the market share target.