Li Auto Inc. (LI) Prices 100M Shares Global Offering

Li Auto Inc. (Nasdaq: LI) announced the pricing of the global offering of 100,000,000 Class A ordinary shares of the Company, which comprises an international offering and a Hong Kong public offering.

The final offering price for both the International Offering and the Hong Kong Public Offering (the “Offering Price”) has been set as HK$118.00 per Offer Share. Based on the ratio of two Class A ordinary shares per Nasdaq-listed American depositary share (the “ADS”), the Offering Price translates to US$30.36 per ADS based on an exchange rate of HK$7.7746 to US$1.00.

In addition, the Company has granted an over-allotment option to the international underwriters, exercisable by the joint global coordinators on behalf of the international underwriters, until the 30th day after the last day for lodging applications under the Hong Kong Public Offering, to require the Company to issue up to an aggregate of 15,000,000 additional Offer Shares at the Offering Price.

Subject to approval from The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), the Class A ordinary shares of the Company are expected to begin trading on the Main Board of the Hong Kong Stock Exchange on or about Thursday, August 12, 2021 under the stock code “2015.” The Global Offering is expected to close on the same day, subject to customary closing conditions.

The net proceeds to the Company from the Global Offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, are expected to be HK$11.6 billion (assuming the over-allotment option is not exercised). The Company plans to use the net proceeds from the Global Offering for research and development of HPC BEV technologies, platforms, and future models, intelligent vehicle and autonomous driving technologies, and future EREV models; expansion of production capacity, retail stores, delivery and servicing centers, roll-out of HPC network, and marketing and promotion; and working capital and other general corporate purposes.

Goldman Sachs (Asia) L.L.C. and China International Capital Corporation Hong Kong Securities Limited are the joint sponsors, joint global coordinators, joint bookrunners, and joint lead managers for the Global Offering. UBS AG Hong Kong Branch is the financial advisor, joint global coordinator, joint bookrunner, and joint lead manager for the Global Offering.

The International Offering is being made only by means of a prospectus supplement and the accompanying prospectus. The accompanying prospectus is included in an automatic shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 2, 2021, which automatically became effective upon filing. The registration statement on Form F-3 and the preliminary prospectus supplement dated August 2, 2021 are available on the SEC’s website at http://www.sec.gov. The final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from Goldman Sachs & Co. L.L.C., 200 West Street, New York, NY 10282-2198, Attention: Prospectus Department, by telephone at +1 (866) 471-2526 or by email at [email protected], China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong, by telephone at +852 2872-2000 or by email at [email protected], and UBS AG Hong Kong Branch, 52/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong, Equity Capital Market, by telephone at +852 2971-8888 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer or an invitation to buy any securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. This press release does not constitute a prospectus (including as defined under the laws of Hong Kong) and potential investors should read the prospectus of the Company for detailed information about the Company and the offering, before deciding whether or not to invest in the Company. This press release has not been reviewed or approved by Hong Kong Stock Exchange or the Securities and Futures Commission of Hong Kong.

The price of the Offer Shares of the Company may be stabilized in accordance with the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). The details of the intended stabilization and how it will be regulated under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) have been contained in the Hong Kong prospectus of the Company dated August 3, 2021.

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