Lee Auto’s Rockets meet revenue expectations again after first earnings report

Shares of Lee Auto Inc. L.I.
+ 27.27%
After reporting first-quarter results after going public by China’s electric vehicle maker, it surged 29.3% on Friday to another record, in which it reported a wider-than-expected net loss of revenue, while revenue forecasts Defeated, as distribution continued to increase. Net loss is limited to RMB320.7 million ($ 47.2 million), or RMB0.52 a share, in the sequential second quarter of RMB345.2 million, or RMB2.71. The FactSet consensus was for a per-share loss of RMB0.38. Revenue of more than RMB.9.42 billion increased by 28.9% from revenue to RMB2.51 billion ($ 369.8 million) in the second quarter. Gross margin increased from 13.3% to 19.8%. Deliveries increased 31.1% quarter-on-quarter to 8,660, after an increase of 128.0% to 6,604 in the second quarter. For the fourth quarter, Lee Auto expects to deliver 11,000 to 12,000 vehicles. Partner China-based EV manufacturer XPeng Inc. After upbeat results from M.E.E.E.E., the stock rose 27.3% ahead of the results on Thursday,
+ 33.40%.
XPeng stock traded down 10.2% in Friday trading and Nio Inc. traded down.
+ 12.11%,
Which is to report the results on 17 November. Climbed 6.7%. This rally iShares MSCI China ETF MCHI,
+ 0.07%
Open and futures soar 1.3% ahead of ES00,
+ 0.69%
For the S&P 500 SPX,
0.7% gain.


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