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After XPeng landed at the Hong Kong Stock Exchange, Li Auto followed closely.

Today, Ideal Motors officially landed on the Hong Kong Stock Exchange under the stock code 2015. According to previous plans, the issuance price of Ideal Motors Hong Kong shares was HKD 118 per share, but after opening, the stock price fell below the issuance price. As of the time of publication, the stock price of Ideal Motors Hong Kong shares fell 0.08% from the issuance price to HKD 117.9 per share, with a total market value of RMB 2016 billion.

Li Xiang and executives ring the bell and take screenshots of the live broadcast of the self listing

The same as XPeng, Li Auto is also listed on the Hong Kong Stock Exchange. The first anniversary of Ideal's landing on NASDAQ has just passed. According to Shen Yanan, the joint president of Li Auto, the plan of listing in Hong Kong stock market has been launched since the listing in the US stock market. From submitting the listing application to successfully listing, Ideal only took 3 months, which is much faster than Xiaopeng's 4 months.

Behind accelerating the listing of Hong Kong stocks is the urgent need for funds.

Three months ago, NIO, Xiaopeng, and Ideal "Car Building Brothers" successively released their respective financial reports for the first quarter of 2021. Among them, Ideal's performance was not impressive, with revenue and net profit both decreasing month on month. In contrast, NIO and Xiaopeng's revenue both increased and their net loss also narrowed.

In terms of cash and cash equivalents, restricted cash, term deposits, and short-term investments, the ideal known for being stingy has become the least among the three brothers, with a total amount of only 30.36 billion yuan as of March 31 this year.

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