Li Auto delivered 2,711 Li ONEs in August, a new monthly record. For the period January-August 2020, Li ONE deliveries totaled 14,656 units.
As of August 31, 2020, the company had 31 retail stores covering 26 cities in China. In the coming months, it will further expand its direct sales and servicing network to increase geographic coverage in China, the company said.
Li Auto was up 6 percent pre-market after the data was released. As of Tuesday's close, Li Auto's market capitalization was $15.3 billion.
Li Auto market cap approaches NIO, why is it favored by capital markets?
On July 30, Li Auto went public on the NASDAQ under the ticker symbol "LI", becoming the second Chinese EV startup to go public in the US after NIO.
Li Auto's initial public offering of 95 million American Depositary Shares (ADSs) was priced at $11.50 per share, above the $8 to $10 per share pricing guidance range.
After the IPO, Wang Xing and his affiliate, Meituan Dianping, became Li Auto's largest shareholders, holding 23.3 percent of Li Auto's shares and 8 percent of its voting rights.
The company's founder, Li Xiang, holds 21.3% of Li Auto's shares and has 73% of the voting rights.
Founded in April 2015 with a registered capital of 915 million yuan, Li Auto is a startup company focused on the development and manufacturing of electric vehicles.
Li Auto is Li Xiang's third startup, having previously founded pcpop.com and autohome.com, as well as being a co-founder and investor in NIO.
Li Auto launched its first extended-range SUV, "Li ONE," in October 2018.
Li Auto's second quarter revenue was nearly RMB 1.9 billion, up 128.6% from the first quarter. Net loss for the second quarter was RMB75.2 million, compared to RMB77.1 million in the first quarter; operating cash flow was RMB451.7 million, while operating cash flow was also RMB -63 million in the first quarter of the year.
