理想汽车：Is the Mega lesson worthwhile？

M N 21 May 2024 CMB International Global Markets | Equity Research | Company Update Li Auto Inc. (LI US) Is the Mega lesson worthwhile? Target Price US$26.00 We are of the view that Li Auto has lowered priority for its FY24E profitability (Previous TP US$48.00) and the sell-off after the 1Q24 earnings call has largely priced in such Up/Downside 19.8% management mentality. We believe the key lies in its new BEV strategy, EREV Current Price US$21.71 sales recovery in 2H24 and FY25 sales growth with BEVs being ...