Li Auto saw stock up 26.4% in a month in May, giving it a valuation of RMB 214.4 billion (around $30.2 billion), meaning that it is now China’s second most valuable car company following BYD, National Business Daily reported. Li Auto reported a profit of RMB 934 million in the first quarter in May when rivals Nio and Xpeng Motors are still operating at a loss. Li Auto was followed closely by Great Wall Motor, which was valued at RMB 191.7 billion as of May 31, as shares of the Hebei-based automaker fell 15.9% last month, according to the June 2 report, which cited figures from financial database Wind. State-owned automakers SAIC, Changan, and GAC ranked from fourth to sixth at valuations of more than RMB 100 billion, while BYD’s market capitalization reached RMB 738.4 billion as of May. [National Business Daily, in Chinese]
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