開曼群島公司法（經修訂） 股份有限公司 PONY AI INC. 的 第九次經修訂及重述組織章程大綱及細則 （經於2024年9月3日通過的特別決議案採納，並於緊接本公司 代表其A類普通股的美國存託股份首次公開發售完成前生效） 1 開曼群島公司法（經修訂） 股份有限公司 PONY AI INC. 的 第九次經修訂及重述組織章程大綱 （經於2024年9月3日通過的特別決議案採納，並於緊接本公司 代表其A類普通股的美國存託股份首次公開發售完成前生效） 2 1. 本公司的名稱為Pony AI Inc.。 2. 本公司的註冊辦事處位於Osiris International Cayman Limited的辦事處（地址 為Suite #4-210, Governors Square, 23 Lime Tree Bay Avenue, PO Box 32311, Grand Cayman KY1-1209, Cayman Islands），或董事可能不時決定的其他地 點。 3. 本公司設立的宗旨並無限制，且本公司應擁有全部權力及授權實施公司法 （經修訂）或其不時的修訂本或開曼群島任何其他法律並無禁止的任何宗旨。 4. 本公 ...

Core Viewpoint - The company, Pony.ai, has successfully set the final offer price for its international and Hong Kong public offerings at HKD 139 per share, driven by strong demand from institutional and market investors [1] Group 1: Offering Details - The company exercised its overallotment option in full, issuing approximately 6.29 million additional shares, which represents 15% of the initially available shares for subscription [1] - If the overallotment option is fully exercised, the total fundraising amount could reach up to HKD 7.7 billion [1] Group 2: Fund Allocation - Approximately 50% of the raised funds will be allocated to implementing market entry strategies and advancing the large-scale commercialization of Level 4 (L4) autonomous driving technology [1] - About 40% of the funds will be used for the development of L4 autonomous driving technology and solutions [1] - The remaining 10% will be directed towards working capital needs and other general corporate purposes [1] Group 3: Trading Information - The company's shares are set to commence trading on the main board of the Hong Kong Stock Exchange on November 6 [1]

Core Viewpoint - The company, Pony.ai, has set the final offer price for its international and Hong Kong public offering at HKD 139 per share, driven by strong demand from institutional and market investors [1] Group 1: Offering Details - The company fully exercised its over-allotment option, issuing approximately 6.29 million additional shares, which represents 15% of the initially available shares for subscription [1] - If the over-allotment option is fully exercised, the total fundraising could reach up to HKD 7.7 billion [1] Group 2: Fund Allocation - Approximately 50% of the raised funds will be allocated to implementing market entry strategies and advancing the large-scale commercialization of Level 4 (L4) autonomous driving technology [1] - About 40% of the funds will be used for the development of L4 autonomous driving technology and solutions [1] - The remaining 10% will be allocated for working capital needs and other general corporate purposes [1] Group 3: Trading Information - The company's shares are set to commence trading on the Hong Kong Stock Exchange's main board on November 6 [1]

Major Events - Xiaoma Zhixing-W (02026) has set the share price for its offering at HKD 139 [1] - Boleton (01333) has entered into a strategic cooperation with Fujian Rixin, focusing on autonomous driving for mining transportation [1] - Zhaojin Mining (01818) has signed a strategic cooperation memorandum with Ant Group [1] - Yimai Sunshine (02522) subsidiary has signed a data co-construction cooperation agreement with Beijing Xianxing District and Beijing Computing Power [1] - Yaojie Ankang-B (02617) has reached a project cooperation agreement with Neurocrine [1] - Heng Rui Pharmaceutical (01276) plans to include HRS-5965 capsules in the priority review process [1] Financial Data - XPeng Motors-W (09868) delivered 42,013 smart electric vehicles in October, a year-on-year increase of 76%, setting a new monthly delivery record [1] - Fuwai Group (01828) reported a sales revenue of USD 1.935 billion for the first three quarters, a year-on-year increase of 37% [1] - Shenzhen Holdings (00604) recorded total contract sales of approximately CNY 9.838 billion for the first three quarters, a year-on-year increase of 24% [1] - Weigao Group (01066) reported third-quarter revenue of approximately CNY 3.26 billion, a year-on-year growth of about 2.6% [1]

Group 1 - The final offer price for the international and Hong Kong public offering of Pony.ai-W (02026.HK) is set at HKD 139.00 per share, considering various factors including the closing price of American depositary shares on NASDAQ as of October 31, 2025 [1] - The company plans to issue an additional 6.29 million new shares, representing approximately 15% of the initially proposed offering shares, due to the full exercise of the over-allotment option [1] - The total gross proceeds from the global offering, before underwriting fees and offering expenses, are expected to be approximately HKD 6.71 billion, assuming the over-allotment option is not exercised [1] Group 2 - Approximately 50% of the net proceeds from the global offering will be used to implement the market entry strategy for large-scale commercialization of L4 autonomous driving technology in key accessible markets [2] - About 40% of the proceeds will be allocated for ongoing investment in the research and development of L4 autonomous driving technology and solutions [2] - The remaining 10% will be utilized for working capital needs and other general corporate purposes [2]

智通财经APP讯，小马智行-W(02026)公布，国际发售及香港公开发售的最终发售价已定为每股发售股 份139.00港元。待联交所批准后，A类普通股预期将于2025年11月6日在联交所主板开始买卖，股份代号 为"2026"。 发售量调整权已获悉数行使，据此，公司将按发售价额外发行并配发629.33万股新股份(占全球发售项 下初步提呈发售的发售股份数目的约15%)。 ...

本公告僅供參考，並不構成對任何人士進行收購、購買或認購本公司任何證券的要約或誘使作 出要約的邀請。本公告並非招股章程。潛在投資者在決定是否投資於發售股份前，應細閱招股 章程內有關下文所述全球發售的詳細資料。有關發售股份的任何投資決定應僅依賴招股章程所 提供的資料而作出。 香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表 示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 除非本公告另有界定，否則本公告所用詞彙應與Pony AI Inc.（「本公司」）日期為2025年10月28 日（星期二）的招股章程（「招股章程」）所界定者具有相同涵義。 本公告不會直接或間接於或向美國（包括美國的領土及屬地、美國任何州以及哥倫比亞特區） 發佈、刊發或派發。本公告並不構成亦不屬於在美國境內或於任何其他司法權區購買或認購證 券的任何要約或遊說的一部分。發售股份尚未且將不會根據美國證券法或美國任何州級證券法 登記，且不得在美國境內提呈發售、出售、質押或轉讓，惟根據美國證券法及 ...

Core Viewpoint - Pony.ai, an autonomous driving company, is set to launch its IPO on the Hong Kong Stock Exchange, aiming to raise up to HKD 75.52 billion, significantly exceeding its previous Nasdaq target of USD 378 million, indicating strong market interest despite ongoing financial losses [2] Financial Performance - For the first half of 2025, Pony.ai reported revenue of USD 35.43 million, a 43.3% year-on-year increase, but also a net loss of USD 90.64 million, which expanded by 75% compared to the previous year [2][4] - In Q2 2025, revenue reached USD 21 million, marking a 75.9% increase, while net loss was USD 53 million, up 70.9% year-on-year [2] Revenue Sources - The revenue growth is driven by three core business segments, with the RoboTruck service generating USD 17.3 million, accounting for 48.8% of total revenue and showing a 61.3% year-on-year increase [4] - The technology licensing segment contributed USD 14.88 million, representing 42% of total revenue, with a 40% increase in Q2 2025, indicating strong commercialization capabilities [4] Business Development - The Robotaxi service, while contributing only USD 0.33 million (9.2% of total revenue), experienced a remarkable growth of 157.8% in Q2 2025, highlighting its potential as a future growth engine [6] - The company is transitioning from a validation phase to a scaling phase, with a significant increase in revenue growth compared to previous years [6] Research and Development - R&D expenses reached USD 96.5 million in the first half of 2025, a 64.4% increase, primarily focused on the production of the seventh-generation Robotaxi [8] - The gross margin improved from 10.5% in the first half of 2024 to 16.3% in the first half of 2025, indicating better cost coverage as operations scale [8] Cash Flow and Financing - Operating cash flow showed a net outflow of USD 79.57 million in the first half of 2025, compared to USD 59.12 million in the same period of 2024, putting pressure on cash reserves [9] - The upcoming IPO is expected to bolster cash reserves back above HKD 10 billion, ensuring the company's financial stability [8] Profitability Outlook - The company is not expected to reach profitability until it scales its Robotaxi fleet significantly, with estimates suggesting profitability could be achieved when the fleet reaches 50,000 vehicles [10] - The management aims to achieve a balance between revenue and costs by expanding its customer base and optimizing operational efficiency [11] Industry Context - The autonomous driving industry is characterized by high R&D costs and long development cycles, with profitability dependent on achieving scale and operational efficiency [3][12] - Pony.ai is noted for being the only company to obtain full autonomous driving operation permits in major Chinese cities, enhancing its competitive position [11]

Core Viewpoint - Uber plans to participate in the IPOs of Pony.ai and WeRide in Hong Kong, strengthening its collaboration with these two autonomous taxi companies in China [1] Group 1: Stock Performance - Pony.ai's stock price increased by over 9.4%, reaching $21.55 [1] - WeRide's stock price rose by over 3%, reaching $11.54 [1] Group 2: Investment and Partnerships - Uber previously invested in the U.S. IPOs of both Pony.ai and WeRide [1] - Bosch Group has also invested in WeRide [1] - In May, Uber announced an additional investment of $100 million in WeRide [1] - Earlier this year, Uber collaborated with Pony.ai to enter the Middle East market and has been working with WeRide in Abu Dhabi [1]

Group 1 - Uber plans to invest approximately $100 million in Pony.ai's IPO in Hong Kong, deepening its collaboration with the autonomous driving companies [1] - Pony.ai aims to raise up to $972 million in its Hong Kong IPO, while WeRide plans to raise up to $398 million [1] - Other potential investors in the IPOs include Grab, Temasek, and Bosch [1] Group 2 - Uber previously participated in the US IPOs of both Pony.ai and WeRide, and invested an additional $100 million in WeRide earlier this year [2] - Grab has been actively investing in the autonomous driving sector, including a recent investment in May Mobility, with plans to introduce autonomous taxis in Southeast Asia [2] - Grab has also invested in WeRide, planning to deploy autonomous taxi fleets in Southeast Asia [2] Group 3 - Pony.ai plans to use the funds raised from its IPO to commercialize L4 autonomous driving technology in ride-hailing and trucking services, and to invest in R&D [3] - WeRide intends to use its IPO proceeds for the development of autonomous driving technology and to accelerate the commercial production of L4 autonomous vehicle fleets [3]