The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of This Application Proof is in draft form. The information contained in it is incomplete and is subject to change whi ...

Group 1 - The core point of the article is that Li Auto has reorganized its supply chain departments by merging the "Parts Cluster" under the smart vehicle group into the "Manufacturing" department, which will now be managed by Vice President Li Bin, reporting to President Ma Donghui [1] - The merger is part of Li Auto's strategy to adopt a vertical integration approach similar to Tesla, ensuring quality and supply stability through self-built factories and joint ventures [1] - Prior to the merger, the Parts Cluster had nearly 1,000 employees, and after the merger, the entire manufacturing department now has over 10,000 employees, making it the largest first-level department in the smart vehicle group, accounting for one-third of the total workforce [1] Group 2 - In 2023, Li Auto became the first new energy vehicle company to cumulatively deliver over 600,000 units and achieve a single-month delivery of 50,000 units, setting ambitious delivery targets of 800,000 units for 2024 and 1.2 million units for 2025 [2] - To meet these higher targets, Li Auto initiated a large-scale expansion in the second half of 2023, covering various departments including R&D, sales, and supply [2] - The Parts Cluster was previously a secondary department under the R&D and manufacturing supply group, but was elevated to a first-level department in the second half of 2023, with its head reporting directly to Ma Donghui [2]