New stock news | Wenyuan Zhihang (WRD.US) ranks second globally in 2024 in Level 4 and above autonomous driving revenue through the Hong Kong Stock Exchange hearing.

According to the disclosure from the Hong Kong Stock Exchange on October 19th, WeRideInc.-W (referred to as WRD.US hereafter) conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC and Morgan Stanley as its joint sponsors. According to the prospectus, WeRideInc. is a global leader in Level 4 autonomous driving. As of October 9, 2025, the company has deployed autonomous driving products and solutions in over 30 cities in eleven countries including China, the UAE, Saudi Arabia, Switzerland, France, Singapore, and Japan. The company's autonomous driving taxi service is one of the first to achieve large-scale commercial operation in both China and the Middle East. According to data from an analytics consulting firm, WeRideInc. ranked second globally in revenue generated from Level 4 and above autonomous driving on urban roads in 2024, holding a market share of 21.8%. The company adopts a balanced expansion strategy, prioritizing markets in major cities internationally and in China that have shown long-term potential for autonomous driving applications. It focuses on regions where autonomous driving vehicles have clear economic and operational advantages. The company currently deploys a fleet of over 1,500 autonomous driving vehicles, including over 700 autonomous driving taxis. Notably, it owns over 100 autonomous driving taxis in the Middle East, believing that autonomous driving taxis can deliver superior unit economic benefits and higher profitability. The company believes that maintaining a first-mover advantage in major overseas markets is crucial for establishing long-term global leadership and seizing early commercial opportunities. WeRideInc. has established a leading international presence and a significant first-mover advantage in key overseas markets. According to data from the consulting firm, WeRideInc. is the only company to successfully deploy Level 4 autonomous driving solutions in France, Switzerland, and Belgium to date. In Singapore, WeRideInc. is the only autonomous driving company to operate both autonomous driving taxis and minibuses, leading the market by at least 1.5 years in Level 4 development. In the UAE, WeRideInc. leads the deployment of Level 4 autonomous driving by over two years compared to the second company, being the first company globally to conduct Level 4 fully driverless tests outside of China and the US. Similarly, in Saudi Arabia, WeRideInc. leads in Level 4 autonomous driving implementation by approximately two years compared to the second company. Overseas markets, especially in Europe and the Middle East, may have higher technology penetration rates and better cost-effectiveness, making them ideal destinations for expanding the company's autonomous driving taxi services. For example, in Abu Dhabi, the company has achieved commercialization, with the fare being approximately four times higher than in major cities in China according to data from the consulting firm. The company plans to continue expanding its existing fleet and extend to more overseas cities, deploying tens of thousands of autonomous driving taxis in the coming years. Financially, for the six months ending on June 30 in 2022, 2023, 2024, and 2025, the company's total revenue was approximately 528 million, 402 million, 361 million, and 200 million RMB respectively; during the same period, the net losses were approximately 1.298 billion, 1.949 billion, 2.517 billion, and 792 million RMB respectively.