Li Auto's first-quarter net profit fell despite higher revenue. The Chinese automaker reported sales of $3.6 billion for the three months ending March 31, but vehicle sales missed analyst estimates as deliveries of its first pure electric car fell short of its own targets. Earnings per share of $0.17 missed by $0.03, and revenue of $3.6 billion missed by $200 million. The company's shares plunged 19% on weak earnings and a tough outlook, falling over 13% this morning and 4.4% pre-market. Li Auto's order intake also missed expectations, and the delay of more battery electric vehicle launches further impacted investor sentiment.