Li Auto Announced Termination Of The US ATM Offering

References are made to the announcement of Li Auto Inc. (“Li Auto” or the “Company”) (NASDAQ:LI, HKEX: 2015))) dated June 29, 2022 (Hong Kong Time) and the listing document of the Company dated June 29, 2022 (Hong Kong Time) (the “Listing Document”) in relation to the issuance of Class A Ordinary Shares of the Company under the General Mandate pursuant to the US ATM Offering and the listing of such shares on the Hong Kong Stock Exchange. Unless otherwise defined, capitalized terms used herein shall have the same meanings as those defined in the Listing Document. The Company announces that it has provided notice of termination of the equity distribution agreement dated June 28, 2022 (U.S. Eastern Time) between the Company and certain sales agents in connection with the US ATM Offering, effective immediately after the close of business on September 27, 2023, U.S. Eastern Time. The Company is terminating the US ATM Offering because it does not intend to further raise additional capital or sell additional securities under the US ATM Offering after the termination becomes effective. The Company is not subject to any penalties or liabilities relating to this termination. As of the date of this announcement, the Company has sold 13,502,429 ADSs representing 27,004,858 Class A Ordinary Shares under the US ATM Offering, raising gross proceeds of US$536.4 million before deducting fees and commissions payable to the sales agents of up to US$7.0 million and certain other offering expenses. The Company has used and still intends to use the net proceeds from the US ATM Offering for (i) research and development of next-generation electric vehicle technologies including technologies for BEVs, smart cabin, and autonomous driving, (ii) development and manufacture of future platforms and car models, and (iii) working capital needs and general corporate purposes.