Shares in Li Auto soared on Wednesday despite the Chinese electric automaker announcing a slide back into loss and admitting its self-driving technology is not as good as that of its rivals.
The strong one-day rise indicates that investors see potential in the Nasdaq-listed automaker, which beat expectations but still posted a net loss of 360 million yuan ($56 million) for the first quarter, reversing the 107.5 million yuan net profit it booked in the prior quarter and widening its 77.1 million yuan loss from the same period last year.
