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Li Auto Shares Gain Today

00:01:06

Li Auto ($LI@China) shares are trading higher after the company reported better-than-expected 3rd quarter financial results. The Chinese electric sport utility vehicle company reported 3rd quarter diluted earnings per ADS of 5 cents, which beat the estimate of a 2 cent loss. It also reported sales results of $1.21 billion beating the $1.16 billion estimate. Like other automakers, production has been hampered by parts and chip shortages, but industry analysts say supplies appear to be improving. The company sells just one vehicle, the hybrid-electric Li One SUV, but 3 platforms are under development and more models are on the way. 25,116 Li Ones were delivered in the third quarter, a 190% year-over-year increase. Its next-generation extended-range EV will be released in 2022, and the Whale and Shark platforms for Li’s battery electric vehicle models are set to launch in 2023. The stock was trading about 9% higher per-share Monday morning. The stock has a 52-week high of $39.35 and a 52-week low of $15.98.

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