On July 29, LI AUTO-W rose 6.58% in regular trading, trading at HK$53.25/share, with turnover of HK$69.70 million. The rally was driven by a combination of persistent large-scale share repurchases and accelerating product delivery momentum.

On the buyback front, the company repurchased approximately 583,800 shares on July 27 for roughly US$3.66 million at prices between US$6.165 and US$6.325 per share. Since the buyback authorization was approved on May 29, the company has cumulatively repurchased approximately 62.57 million shares, representing 2.92% of issued share capital. The high-frequency repurchase cadence has continued daily throughout July.

On the product side, the Li i6 has posted monthly sales exceeding 20,000 units for four consecutive months, with the 160,000th production unit rolling off the assembly line on July 21. The new-generation Li L6 commenced first-batch deliveries on July 20 at a unified retail price of RMB 249,800. Morgan Stanley reiterated its Overweight rating with a target price of HK$78.5, citing the L6's compelling value proposition in the five-seat SUV segment.

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