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Li Auto Up 7% On Narrower Q1 Loss, Higher Revenues

Shares of Li Auto Inc. (LI) are rising 7 percent on Wednesday's trading after the company posted narrower loss in the first quarter of 2022.

The company posted net loss of RMB10.9 million or $1.7 million in the first quarter, compared with net loss of RMB360.0 million in the same period last year. Excluding items, income was RMB477.1 million or $75.3 million in the first quarter, compared with RMB177.0 million loss in the prior-year period.

Quarterly revenues soared 168 percent to RMB9.56 billion or $1.51 billion from RMB3.58 billion in the first quarter of 2021.

Currently at $21.22, the stock has traded between $16.72 and $37.45 during the past 52 weeks.

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