(Yicai Global) Aug. 9 -- Li Auto’s stock price fell after it gave conservative guidance on revenue and deliveries for this quarter and despite the company becoming the first Chinese electric car startup to report profit for three straight quarters.

Li Auto [HKG: 2015] closed 5.8 percent lower at HKD167.30 (USD21.40) a share in Hong Kong today, though the stock had more than doubled in value so far this year. In pre-market trading in New York, the carmaker [NASDAQ: LI] was up 0.2 percent at USD42.77 as of 4.18 a.m. local time, after slumping 8.6 percent yesterday. 

Revenue could soar by nearly four times to as much as CNY33.3 billion (USD4.6 billion) in the three months ending Sept. 30, the Beijing-based firm said yesterday, while deliveries could almost quadruple, reaching 100,000 to 103,000 units. It delivered a record 86,533 in the second quarter, a threefold gain on a year earlier.

“The current bottleneck is still with component supply, mostly because of a very strong demand for this year, which led us to increase our target compared to what we said at the beginning of the year,” Li Xiang, founder and chairman, said on an earnings call with analysts.

Li Auto has two production lines in Changzhou, Jiangsu province. “The total capacity of running at two shifts is around 50,000 units per month,” Li said.

In the second quarter, net income tallied CNY2.3 billion (USD318.6 million), compared with a net loss of CNY641 million (USD89 million) a year ago, and revenue more than tripled to CNY28.7 billion. The company’s gross margin widened to nearly 22 percent.

Li also shared the firm's progress in autonomous driving. Li Auto has begun testing its navigate-on-autopilot functions that do not require high-definition maps in urban areas.

“We have the biggest autopilot or NOA training -- testing fleet in China and also have the most training mileage as well as a significant reserve of cloud-side computing power, which we believe will be our absolute competitive advantage,” he said.

Editor: Emmi Laine