CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English
Country • Select Country
    Entity • The products and services listed on this website are not available to US residents.
    English العَرَبِيَّة Deutsch ελληνικά Español Français Italiano Magyar Nederlands Polski Română Русский 简体中文 繁體中文

    Li Auto (LI) up 8% on strong Q3 earnings

    By Joyanta Acharjee

    13:40, 29 November 2021

    A Li Auto dealership in Shanghai, China
    For the fourth quarter Li Auto expects deliveries of between 30,000-32,000 vehicles – Photo: Shutterstock

    Li Auto posted stronger third quarter earnings as the company reported a hike in electric vehicle (EV) deliveries amid "strong order intake".

    For the quarter ended 30 September, net losses narrowed 80% to RMB21.5m (£2.53m) from a loss of RMB106.9m a year earlier on total revenues which tripled to RMB7.8bn from RMB2.5bn in the third quarter of 2020.

    In pre-market Nasdaq trading, shares were up 8% at $35.13.

    For the third quarter, Li Auto delivered 25,116 vehicles, up 190% from the 8,660 vehicles delivered in the third quarter of last year. This resulted in vehicle sales of RMB7.39bn in the third quarter of 2021, representing an increase of 199.7% from RMB2.46bn reported in the third quarter of 2020.

    Behind the wheel of Li Auto's electric SUV – Photo: Li Auto

    Strong order intake

    "In light of our strong order intake and users’ rising acceptance of smart electric vehicles, we remain as enthusiastic as ever about our growth prospects," Li Auto's founder, chairman and CEO Xiang Li said in a press release.

    Gold

    2,019.57 Price
    -0.470% 1D Chg, %
    Long position overnight fee -0.0198%
    Short position overnight fee 0.0116%
    Overnight fee time 22:00 (UTC)
    Spread 0.30

    Oil - Crude

    72.22 Price
    -1.690% 1D Chg, %
    Long position overnight fee -0.0225%
    Short position overnight fee 0.0006%
    Overnight fee time 22:00 (UTC)
    Spread 0.040

    US100

    15,876.00 Price
    +0.300% 1D Chg, %
    Long position overnight fee -0.0263%
    Short position overnight fee 0.0041%
    Overnight fee time 22:00 (UTC)
    Spread 7.0

    XRP/USD

    0.63 Price
    -0.630% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 22:00 (UTC)
    Spread 0.01168

    "Amidst the industry-wide chip supply shortage, we delivered 25,116 vehicles during the third quarter, growing 190% year over year and recording a new quarterly high, highlighting once again the compelling appeal of our 2021 Li ONE to family users," CEO Li said.

    What is your sentiment on LIus?

    35.77
    Bullish
    or
    Bearish
    Vote to see Traders sentiment!

    Q4 forecast

    Looking ahead, for the fourth quarter Li Auto expects deliveries of between 30,000 and 32,000 vehicles and revenue of between RMB8.82bn and RMB9.41bn.

    The Chinese car company designs, develops, manufactures, and sells premium smart electric vehicles. It currently sells a family-size SUV named the Li One. Li Auto is the second Chinese electric vehicle maker listed on Nasdaq after NIO. Rival Xpeng listed on the NYSE in 2020.

    Read more: Chinese car makers report strong EV sales growth

    Markets in this article

    LIus
    Li Auto Inc (Extended Hours)
    35.77 USD
    -0.19 -0.530%
    LIus
    Li Auto Inc (Extended Hours)
    35.77 USD
    -0.19 -0.530%

    Rate this article

    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
    CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
    Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

    Still looking for a broker you can trust?

    Join the 570.000+ traders worldwide that chose to trade with Capital.com

    1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading