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Li Auto Down 4% Following Quarterly Results

Shares of Chinese electric-vehicle maker Li Auto Inc. (LI) are down more than 4% Monday morning despite reporting narrower adjusted loss in the second quarter.

Adjusted loss was $10.1 million or 65.1 million in the second quarter compared with RMB159.2 million last year. Adjusted loss per ADS was $0.01 or RMB0.07.

Net loss in the second quarter was $36.5 million or RMB235.5 million compared with net loss of RMB75.2 million in the same quarter a year ago. Loss per ADS was $0.04 or RMB0.26 in the quarter.

Revenues were $780.4 million or RMB5.039 billion in the second quarter an increase of 158.8% from RMB1.947 billion in the first quarter of 2021.

Looking forward, the company expects third-quarter revenues to be between $1.08 billion and $1.12 billion, an increase of 177.8% to 188.9% from last year's third quarter.

LI, currently at$28.15, has traded in the range of $15.02- $47.70 in the past 52 weeks.

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