Group 1 - The core viewpoint is that Li Auto's stock price has significantly declined following the release of its first pure electric SUV, the Li Auto i8, which did not meet market expectations [1][3] - On July 30, Li Auto's stock fell by 12.98%, and as of the latest report, it was down 2.02% at HKD 107.70 [1] - The official price range for the Li Auto i8 is set between CNY 321,800 and CNY 369,800, which is lower than the previously announced pre-sale price range of CNY 350,000 to CNY 400,000, with the highest configuration seeing a price drop of 7.55% [3] Group 2 - The launch of the Li Auto i8 has raised concerns regarding its configuration, which may not meet consumer expectations, especially with multiple new models in the same price range expected to enter the market in the second half of the year [3] - According to CMB International, the company maintains its annual sales forecast at 560,000 units, representing a 10.7% increase compared to 2024 [3] Group 3 - The "heavy truck collision test" presented during the i8 launch has faced scrutiny, with the company asserting that the test was conducted by a third-party testing agency and was based on real traffic scenarios [4] - Following this controversy, Li Auto's stock performance weakened, leading to a significant increase in short selling, with shorted shares rising from 3.305 million on July 25 to 9.219 million by July 31, peaking at 23.161 million in a single day [4] Group 4 - The trend of short selling has spread across the automotive sector, with other major companies also experiencing increased short selling, such as NIO, which saw a 377% increase in shorted shares [6] - Xpeng Motors and Geely also reported significant increases in short selling, while BYD was the only exception, with a 41% decrease in shorted shares [8][10][14] Group 5 - The overall performance of the automotive market in July showed a retail sales figure of 978,000 units for passenger vehicles, reflecting an 11% year-on-year increase but a 12% decline compared to the previous month [12]