Industry dynamics

Electric carmaker Li Auto to debut on HK bourse

Publishtime:1970-01-01 08:00:00 Views:35
People visit the booth of Chinese electric vehicle (EV) maker Li Auto during a media day for the Auto Shanghai show in Shanghai, April 20, 2021. [Photo/Agencies]

Chinese mainland electric vehicle manufacturer Li Auto said the company will debut on the Hong Kong Stock Exchange on Aug 12, with the code number 2015 and a maximum offer price of HK$150 per share, The Paper reported.

According to an exchange filing, Li Auto will issue 100 million shares globally, among which 10 percent, or up to 10 million shares, will be issued to investors in Hong Kong.

The offer also includes a greenshoe, or over-allotment option, to sell a further 15 million shares within 30 days after listing. The final price will be decided on Aug 6.

Li Auto's prospectus showed that last year the company posted revenue of 9.46 billion yuan and a net loss of 151 million yuan. In 2020, Li Auto delivered 32,624 vehicles.

In comparison, during the first seven months of this year, the company delivered 38,743 vehicles, beating the 2020 full-year sales number. In July alone, the company delivered 8,589 Li ONE hybrid electric cars, a 251 percent increase from the same period of last year.

According to the prospectus, the company plans to use the funds raised in R&D of high-pressure pure electric vehicle technology, platform and future models, smart vehicles and self-driving technology, expanding its capacity, increasing the number of dealer shops and delivery and service centers, as well as promoting a high-voltage charging network.

Li Auto raised $1.09 billion through its Nasdaq listing in July last year.