LI AUTO(US:LI) 理想TOP2·2025-06-24 15:19Core Viewpoint - The company expresses confidence that the sales of the refreshed model will soon return to a monthly sales level of 50,000 units, despite current challenges in order numbers and market conditions [1][2]. Group 1: Sales Performance and Orders - From April 21 to June 1, the company recorded over 10,000 orders for six consecutive weeks, indicating a strong fundamental basis for achieving the 50,000 sales target [2]. - The order situation for the L series has deteriorated or failed to meet expectations, as indicated by recent conference calls [2]. - Between June 2 and June 22, the L series insurance numbers were significantly below the required 45,000 monthly deliveries, with figures of 7960, 7392, and 8290 respectively [1]. Group 2: MEGA Model Insights - The MEGA model's insurance numbers from May 26 to June 22 were 538, 310, 482, and 640, with a total of approximately 2208 units expected for June and around 3000 units for July if the trend continues [3]. - The MEGA model has become the top-selling pure electric MPV in its price segment as of June 16-22, with the main competitor being the Jihu Kaola [4]. - To maintain a monthly delivery of 3000 units for the MEGA, the company needs to secure monthly orders of over 2000, while aiming for 4000 requires orders exceeding 3000 [5]. Group 3: Competitive Landscape - The main competitors for the MEGA model include the Jihu M9 and SU7U, which currently do not show the potential to achieve monthly deliveries of 3000 units [3][5]. - The Jihu Kaola has previously achieved monthly deliveries of over 3000 units, posing a significant competitive threat [4].