Li Auto Slips 6% On Wider Loss In Q3

(RTTNews) - Shares of Chinese electric vehicle maker Li Auto Inc. (LI) are falling more than 6% Friday morning after reporting wider loss in the third quarter.

The company reported a loss of RMB1.65 billion or $231.3 million in the third quarter wider than RMB641.0 million in the same quarter a year ago.

Loss per ADS was RMB1.68 or $0.24 in the third quarter, compared with both RMB0.02 last year.

Excluding one-time items loss was RMB1.65 billion or $231.3 million.

Adjusted loss per ADS was RMB1.27 or $0.18.

Total revenues were RMB9.34 billion or $1.31 billion in the third quarter, an increase of 20.2% from RMB7.78 billion in the third quarter of last year.

Li is at $22.56. It has traded in the range of $12.52-$41.49 in the last 1 year.