Li Auto Stock

Major EV makers have seen consecutive days of declines as year-end vehicle deliveries prove weaker than previous years amid tapering stimulus policies.

From January to September, Li Auto's deliveries fell 13.07 percent year-on-year, while Xpeng surged 217.77 percent.

As of press time, Li Auto was down 5.3 percent in Hong Kong, bringing its cumulative decline since July 21 to 21.8 percent.

As of press time, Li Auto was down more than 10 percent in Hong Kong, marking its biggest intraday decline in nearly four months.

Insurance registrations for Nio vehicles were 15,400 for May 1-26, already close to the full month of deliveries in April.

Li Auto's BEV endeavors appear to be facing structural challenges as transferring its EREV success to BEV is not so straightforward, Deutsche Bank said.

The Hang Seng Index is one of the earliest stock indices in Hong Kong, and since its launch on November 24, 1969, it has become an important indicator of Hong Kong's stock market.

Wang Xing, CEO of Meituan, cashed in about HK$311 million last week in four consecutive sell-offs of Li Auto's Hong Kong-traded shares.

While Li Auto's underlying execution remains strong, Nio, Xpeng will be more compelling growth stories in coming quarters, said Deutsche Bank.

A top Chinese government meeting on Monday boosted investor optimism, with Nio and Xpeng, the laggards of the past few months, coming into more favor.