On March 17, China International Capital Corporation (CICC) issued a research report highlighting that Li Auto Inc. (02015.HK) surpassed expectations in its fourth-quarter earnings for last year, fueled by robust sales and prudent cost management. Nevertheless, due to an uptick in provisions stemming from MEGA and other model orders, interest-free financing plans, and product mix shifts, the company's gross margin fell short of projections. CICC maintained its "Outperform" rating for Li Auto, and in light of the company's ramping up of electric vehicle production, revised downward its profit forecast for this year by 11% to RMB 12 billion, while keeping its profit forecast for the following year intact. Furthermore, CICC expressed optimism regarding Li Auto's upcoming models and AI strategies, reaffirming its target price of HK$155 for H shares and US$40 for American Depositary Shares (ADS).