Li Auto

Citi has initiated coverage of Li Auto's Hong Kong shares with a Buy rating and a HK$165 price target. Li Auto closed at HK$106.3 on Tuesday, and the price target implies a 55 percent upside.

Li Auto closed at HK$ 106.4 in Hong Kong on Monday, and CICC's price target implies 76 percent upside.

Li said industry players should exercise restraint in marketing, but invest more in technology that will benefit users, the industry, and companies in the long run.

Li Auto will be included in the Hang Seng Composite Index and the Hang Seng Consumer Goods Manufacturing and Services Index.

Li Auto will focus on electric drive technology and the development of next-generation extended-range technology and 400kW high-speed charging technology.

Li Auto is considering the possibility of building an offshore production site to serve as a stepping stone for its entry into the global market, the SCMP reported.

Li Auto followed in the footsteps of Xpeng in listing in Hong Kong, though the pricing does not appear to be attractive to investors.

Li Auto is internally examining the possibility of returning to China's A-share market, said the company's president Shen Yannan.

Li Auto traded down about 3.73 percent to HK$113.6 at the beginning of the grey market in Hong Kong on Wednesday.