Chinese electric vehicle manufacturer Li Auto Inc. reported second-quarter earnings that fell short of analyst projections despite revenue exceeding forecasts.
The company posted a loss of ¥1.49 per American Depositary Share (ADS) for the three months ended June 30, compared with the consensus estimate of a ¥1.47 loss. Revenue totaled ¥25.67 billion, above the ¥25.07 billion forecast by analysts.
Li Auto’s shares closed at ¥12.27 on Wednesday, down 1.44% in real-time trading, following the release. The stock has declined 18.25% over the past three months and 45.71% over the last 12 months.
For the third quarter, Li Auto guided revenue to range between ¥26.60 billion and ¥28.00 billion, well below the ¥32.28 billion consensus estimate. The company’s financial health was rated as "fair performance" by InvestingPro, with one positive and two negative EPS revisions recorded over the past 90 days.
Li Auto, which trades on the NASDAQ under the ticker LI, continues to face pressure in China’s competitive EV market amid slowing domestic demand and rising competition from domestic and international rivals.
