Officially listed on Nasdaq on the night of July 30, Li Auto (Code: LI) became the second Chinese EV start-up to list in the US. The company’s shares closed at USD16.46 per share, up 43.13%, with market capitalization amounting to USD13.917 billion.
Li Auto, formerly CHJ Auto and founded in 2015 by Autohome founder Li Xiang, was focused on the research and development as well as manufacture of extended-range electric vehicles (E-REV). Renamed Li Auto in June 2019, this new energy vehicle enterprise is primarily engaged in the design, development, manufacture and sale of high-end intelligent E-REV SUVs. Yintai Group is one of its key investors.
Yintai Group has invested in more than 80 companies worth a total of more than RMB20 billion over the last few years. Of these, 15 companies have become unicorns worth more than USD1 billion, and more than 10 companies have been listed. The scope of investment includes sectors such as smart logistics, smart finance, smart retail, and new energy comprising Cainiao, Ant Financial, Mybank, ByteDance, Huitongda, UBOX Online, among others, which will help boost technological innovation and industry reform.