With a price of $11.5 per share and a total market value of $9.724 billion, LI wants to ring the bell on the American Stock Exchange with Li (LI).

Text | Car Story Green Lemon

At 21: 00 on July 30th, Beijing time, the LI built by Li Xiang was officially listed on NASDAQ. The issue price is $11.5 per share, with a total market value of $9.724 billion, 95 million shares in circulation and 846 million shares in total. LI became the second new car-making force to successfully IPO in the United States after Weilai.

It is reported that the subscription of LI in the pre-listing period was very good, which not only ended the subscription in advance, but also rang the bell on Nasdaq one day earlier.

At 21: 00 p.m. on July 30th, Beijing time, LI was officially listed on NASDAQ. The stock code is LI, and the issue price is $1.15/share. The pre-market value is $9.724 billion, the circulating market value is 1.092 billion yuan, the circulating share capital is 95 million shares, and the total share capital is 846 million shares.

So far, apart from Weilai, LI has become the second new car-making force to successfully go public in the United States. At the same time, for Li Xiang, the founder, his second personal entrepreneurial project was listed on Nasdaq after the car.

In fact, since the day LI was born, IPO has been no secret, but what has not been confirmed is where it will be chosen.

It was not until July 10th this year that LI officially submitted a prospectus to the Securities and Exchange Commission (SEC) of the United States, and the listing location was really hammered.

According to this prospectus, in terms of ownership structure, LI is divided into A shares and B shares. Among them, Li Xiang, as the largest natural person shareholder in LI, holds about 356 million A and B shares, accounting for about 25.1% of the total share capital and having 70.3% of the voting rights; Wang Xing (and Meituan) is the second largest shareholder in LI, holding 332 million A shares, accounting for 23.5% of the total share capital, but only 9.3% of the voting rights; Shen Yanan, co-founder and president of LI, holds 1.1% A shares and has 0.4% voting rights; Li Tie, the co-founder and CFO, holds 1.0% of A shares and has 0.4% of voting rights.

In addition, in terms of institutional shareholding, Amp Lee Ltd (which Li wants to enjoy through trust) holds 25.1% of Class A shares; Zijin Global Fund holds 8.9% shares and has 3.5% voting rights; Rainbow Six Limited holds 6.1% shares and has 2.4% voting rights; Inspired Elite Investments Limited (a wholly-owned subsidiary of Meituan) holds 14.5% of the shares and has 5.8% of the voting rights.

Through the AB-share structure design, Li wants to achieve absolute control over LI. This is also conducive to the flat operation of this innovative company in the operation process and helps to achieve extremely fast response.

Based on the calculation of initial public offering, LI raised 1,092.5 million US dollars. For this fund, LI said in the prospectus earlier that it will be used for the research and development of new products and the company’s working capital.

According to sales data, in the second quarter of this year, LI delivered a total of 6,604 new cars, an increase of 128% compared with 2,896 in the first quarter. Its revenue in the second quarter also increased by 128.6% compared with the first quarter. The gross profit margin increased from 8% in the first quarter to 13.3% in the second quarter.

Better-than-expected data also made investors optimistic about LI.

Just at the time of LI’s official listing tonight, Jingwei Zhang Ying said on the social platform: "Congratulations to Li Xiang, congratulations to the ideal. For early investors, the most important thing is always people, and excellent founders are greater than everything."

As the main investor of LI A round, Cao Yi, the founding partner of the source code, also said in an interview: "The huge industry, the big bottom changes are gestating, the S-class entrepreneurs, the excellent business natural attributes, etc. are all in LI. You can see it on this company."

Of course, listing is only a phased goal in the initial stage of LI’s Long March. Its achievement does not mean that LI can breathe a sigh of relief. There are still more problems waiting for Li Xiang (LI) in product quality control, new vehicle research and development, and the expansion of intelligent network. In addition, compared with the product side, how to improve the soft power of the server also tests the comprehensive strength of how LI grabs orders from competing products.