Debon Securities has issued a research report saying that the li auto inc's Ideall6 will be launched in April 2024, with a price range of 0.2-0.3 million, and has strong competitiveness in space, intelligence, and comfort. During the first sales period from April 18th to May 5th, the cumulative orders exceeded 0.041 million, and the delivery exceeded 20,000 in June, which is expected to consolidate the company's L-series extended-range basic market.
In terms of pure electric, although the performance of the Ideall MEGA in the short term is weak, and the company also postponed the launch of pure electric SUV products to the first half of 2025, the bank believes that with the adjustment of the rhythm of pure electric products, the company focuses on improving user value and operational efficiency, and the continuous improvement of the pure electric energy supplement network, it is expected that by the end of the year, more than 2,000 supercharging stations and more than 10,000 charging stations will be built nationwide. Li auto inc relies on strong product definition capabilities and a strong organization structure to define its target market accurately. Following the adjustment of pure electric product rhythm and the improvement of power-supply network, the sales of subsequent models can still be expected. The bank expects that the company's revenue in 2024-2026 will be 139.61, 189.67, and 242.3 billion yuan, respectively, and the corresponding net income attributable to the parent company will be 7.35, 12.13, and 18.29 billion yuan respectively. Based on the closing price on July 19, 2024, the corresponding PE ratios are 20.36, 12.34, and 8.18 times, and the "buy" rating is maintained.
The bank believes that the company has accurately positioned family users, demonstrated its product definition capabilities through the L-series models, and the sales of the new L6 can be expected to surge; following the adjustment of the rhythm of pure electric products and the improvement of the power-supply network, the sales of subsequent models can still be expected. The bank expects that the company's revenue in 2024-2026 will be 139.61, 189.67, and 242.3 billion yuan, respectively, and the corresponding net income attributable to the parent company will be 7.35, 12.13, and 18.29 billion yuan respectively. Based on the closing price on July 19, 2024, the corresponding PE ratios are 20.36, 12.34, and 8.18 times, and the "buy" rating is maintained.
