Li Auto Raises RMB1.625B for Chip Unit MHX at RMB16.63B Valuation, Retains ~74-76% Stake
LI is trading near its 52-week low of $10.66 (7.7% above the low).
Summary
Li Auto's chip subsidiary MHX Technology raised RMB1.625 billion from Li Auto and external investors at a ~RMB16.63 billion post-money valuation, diluting Li Auto's stake to about 74-76% while keeping the unit consolidated.
Key Events · Financing and Capital Events · LI
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MHX Chip Unit Raises RMB1.625B
Li Auto's wholly-owned subsidiary MHZX Intelligent Technology subscribes RMB1.0 billion and external investors (Hangzhou Jingtao, Lanchi Ventures, Huaye Tiancheng, MiraclePlus) subscribe RMB625 million for increased registered capital in MHX Technology.
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Valuation Set at RMB16.63B Post-Money
The RMB23.35 per unit price implies a pre-transaction valuation of RMB15 billion and an agreed post-transaction valuation of approximately RMB16.63 billion for MHX Technology.
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Li Auto Stake Falls to ~74-76%
Li Auto's equity interest in MHX Technology drops from 100% to about 76.24%, or about 74.01% if the Hangzhou Jingtao Subscription Right is fully exercised; MHX Technology remains a consolidated subsidiary.
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RMB500M Additional Subscription Right
Hangzhou Jingtao holds a one-off right to invest up to RMB500 million more at RMB23.35 per unit on or before December 31, 2026; the right lapses if unexercised.
Analysis · LI · Manufacturing
Li Auto is bringing outside investors into its chip and domain-controller subsidiary, MHX Technology, raising RMB1.625 billion (RMB1.0 billion from Li Auto's own subsidiary and RMB625 million from external investors including Hangzhou Jingtao, Lanchi Ventures, Huaye Tiancheng and MiraclePlus) at an implied pre-money valuation of RMB15 billion and a post-money valuation of about RMB16.63 billion. Li Auto's stake falls from 100% to roughly 76.24%, or about 74.01% if Hangzhou Jingtao exercises its additional RMB500 million subscription right by December 31, 2026. MHX Technology stays consolidated, so Li Auto keeps control of the chip business while external capital funds its R&D and commercialization. The company expects no gain or loss on the deal. The main trade-off is that a slice of a future growth asset now belongs to outside investors, but the cash raised is off Li Auto's own balance sheet and validates the chip unit's standalone value.
How filings like this one have moved
In the 30 days to Oct 31, 2026, 31.5% of the 1750 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LI was trading at $11.48 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $11.6B. The 52-week trading range was $10.66 to $23.15. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.