Group 1 - WeRide, an autonomous driving technology company, announced a multi-million dollar equity investment from Southeast Asian super app platform Grab [1][3] - The investment is part of a strategic partnership aimed at accelerating the large-scale deployment of Level 4 Robotaxis and other autonomous vehicles in Southeast Asia [3] - The investment is expected to be completed by the first half of 2026, with the exact timing dependent on WeRide's chosen conditions [3] Group 2 - Grab's investment will support WeRide's international growth strategy, expanding its commercial autonomous vehicle fleet in Southeast Asia and promoting AI-driven mobility solutions [3] - WeRide's CEO, Han Xu, expressed the vision of gradually deploying thousands of Robotaxis in Southeast Asia, considering local regulations and societal acceptance [3] - The partnership leverages WeRide's advanced autonomous driving technology and operational experience alongside Grab's platform advantages to provide safe and efficient Robotaxi services [3]

Investment Rating - The report indicates a strong upward trend in the automotive and robotics sectors, particularly in advanced driver assistance systems (ADAS) and humanoid robots, suggesting a robust investment opportunity in these areas [3][4]. Core Insights - The report highlights the acceleration of the advanced driving market, with increasing penetration of high-level autonomous driving and rapid deployment of Robotaxi services [1][2]. - Strategic collaborations, such as the partnership between Aobo Zhongguang and Horizon Robotics, are expected to drive innovation in the robotics sector [1][2]. - Significant investments, like the multi-million dollar investment from Grab in WeRide, are aimed at large-scale deployment of Robotaxi in Southeast Asia, indicating strong market potential [1][2]. Summary by Sections 1. Advanced Driving - Aobo Zhongguang and Horizon Robotics signed a strategic cooperation agreement to enhance robot intelligence [8]. - WeRide received a multi-million dollar investment from Grab to accelerate the deployment of Robotaxi in Southeast Asia [9]. - Pony.ai reported a significant increase in revenue, with over 200 units of its seventh-generation Robotaxi produced and a 75.9% year-on-year revenue growth [10]. - Hesai Technology achieved a remarkable 306.9% year-on-year growth in LiDAR deliveries, securing a production contract with a Toyota subsidiary [11][14]. 2. Robotics - The robotics sector is experiencing a boom, with various collaborations and projects being initiated, such as the establishment of a joint venture between Shanghai Yanpu and the Shanghai Robotics Industry Technology Research Institute [15][16]. - The launch of the Genie Envisioner platform by Zhiyuan Robotics integrates future frame prediction and strategy learning, marking a significant advancement in robot control technology [24][29]. - The first World Humanoid Robot Games were held in Beijing, showcasing the capabilities of robots in traditional sports [16]. 3. Investment Recommendations - The report emphasizes that the ROBO+ sector, represented by autonomous driving and humanoid robots, is set to reshape the automotive industry, with a focus on supply chain components like chips and LiDAR [3]. - Key companies to watch include Horizon Robotics in the chip sector, and leading firms in LiDAR and optical components such as Sunny Optical and Yutong Optical [3]. - The report suggests monitoring the supply chain dynamics and technological iterations in the second half of 2025, particularly in tactile sensors and high-performance motors [3].

Group 1 - WeRide (文远知行) will receive a multi-million dollar equity investment from Grab (东南亚地区的超级应用平台), expected to be completed by mid-2026 [1] - The investment is part of a strategic partnership aimed at accelerating the deployment of L4-level Robotaxis and other autonomous vehicles in Southeast Asia [1][4] - The collaboration builds on a Memorandum of Understanding (MoU) signed in March 2025, focusing on the technical and commercial feasibility of autonomous vehicles [1] Group 2 - WeRide will integrate its autonomous vehicles into Grab's fleet management system, optimizing scheduling, route planning, and vehicle utilization [2] - The partnership will also focus on safety performance evaluation, remote monitoring, customer support, and training for drivers and local community members [2] - WeRide aims to deploy thousands of Robotaxis in Southeast Asia, adapting to local regulations and societal acceptance [4] Group 3 - Grab's CEO emphasized the need for reliable transportation services in Southeast Asia, particularly in areas facing labor shortages, and sees autonomous vehicles as a complementary solution [4] - The collaboration will involve extensive testing of WeRide's vehicles in diverse environments to gather real-world data for technology optimization [4]

8月15日，全球领先的自动驾驶科技公司文远知行WeRide(NASDAQ：WRD)宣布，东南亚地区的超级应 用平台Grab(NASDAQ：GRAB)将对其进行数千万美元的股权投资。此项投资是双方战略合作的一部 分，旨在加速在东南亚大规模部署L4级Robotaxi及其他自动驾驶车辆，展现了双方的共同愿景：将文 远知行的自动驾驶车辆接入Grab的运营网络当中，提升服务质量与安全水平。 该笔投资预计不晚于2026年上半年完成交割，具体交割时间将根据文远知行选定的时间点和成交条件确 定。Grab的投资将支持文远知行的国际增长战略，扩大其在东南亚的商业自动驾驶车队规模，并推动 AI驱动的出行方式发展。 (Grab 联合创始人兼集团 CEO 陈炳耀与文远知行创始人兼 CEO 韩旭在文远知行 Robotaxi GXR 前合影，中 国上海 ) 双方将建立一个合作体系，文远知行将在Grab营运网络中部署Robotaxi等自动驾驶车辆，以提升运营效 率与可扩展性。作为本次战略合作的一部分，文远知行将其自主研发的自动驾驶技术应用到Grab的车 队管理、车辆匹配和路径规划系统中。此外，文远知行与Grab还将共同开展技能培训，帮助有意 ...

Core Viewpoint - Grab's investment in WeRide aims to accelerate the deployment of L4-level Robotaxis and other autonomous vehicles in Southeast Asia, enhancing service quality and safety through strategic collaboration [4][5]. Group 1: Investment and Strategic Partnership - Grab will invest tens of millions of dollars in WeRide as part of a strategic partnership to support WeRide's international growth strategy and expand its commercial autonomous vehicle fleet in Southeast Asia [4]. - The investment is expected to be completed by mid-2026, with the exact timing dependent on WeRide's chosen conditions [4]. - WeRide's founder and CEO, Han Xu, emphasized the vision of gradually deploying thousands of Robotaxis in Southeast Asia, leveraging Grab's regional experience and scale [5]. Group 2: Operational Collaboration - WeRide will integrate its autonomous driving technology into Grab's fleet management, vehicle matching, and route planning systems [5]. - The collaboration will focus on optimizing scheduling and route planning to enhance passenger experience [6]. - A comprehensive maintenance, repair, and charging plan will be developed to maximize vehicle utilization [6]. Group 3: Safety and Training Initiatives - WeRide will utilize its regional operational experience to train autonomous vehicles to adapt to Southeast Asian traffic conditions, assessing their safety performance compared to human drivers [6]. - Remote monitoring and support processes will be established to ensure safety [7]. - A training program will be implemented to prepare Grab drivers and local community members for careers in the autonomous driving industry [8]. Group 4: Previous Investments and Growth - In May, WeRide announced an additional $100 million investment from Uber, marking the largest investment in the autonomous driving sector to date [5]. - The expanded collaboration builds on a memorandum of understanding signed in March 2025, where both parties committed to exploring the technical and commercial feasibility of autonomous vehicles [8].

Core Viewpoint - Autonomous driving technology company WeRide announced a multi-million dollar equity investment from Southeast Asia's super app platform Grab, aimed at accelerating the large-scale deployment of L4 level Robotaxis and other autonomous vehicles in the region [1] Group 1 - The investment is part of a strategic partnership between WeRide and Grab [1] - The investment is expected to be completed by the first half of 2026, with the exact timing dependent on conditions set by WeRide [1]

Core Insights - WeRide has announced a strategic equity investment from Grab to accelerate the deployment of Level 4 Robotaxis and shuttles in Southeast Asia, aiming to integrate WeRide's autonomous vehicles into Grab's network for improved service and safety [2][3][5] Investment and Partnership - Grab's investment is expected to be finalized by the first half of 2026, contingent on customary closing conditions and WeRide's preferred timing, supporting WeRide's growth strategy in Southeast Asia [3] - This partnership builds on a prior Memorandum of Understanding signed in March 2025, focusing on the technical feasibility, commercial viability, and job creation potential of autonomous vehicles in the region [8] Operational Integration - The collaboration will establish a framework for deploying autonomous solutions across Grab's network, enhancing operational efficiency and scalability [4] - WeRide will integrate its autonomous driving technology into Grab's fleet management, vehicle matching, and routing ecosystem [4][12] Vision and Goals - WeRide aims to deploy thousands of Robotaxis in Southeast Asia, aligning with local regulations and societal readiness, leveraging Grab's regional expertise in ride-hailing and digital services [5] - Grab emphasizes the need for reliable transportation in Southeast Asia, particularly in areas with driver shortages, and plans to test WeRide's vehicles in diverse environments to adapt the technology for regional needs [6] Technical Collaboration - The partnership will focus on optimizing dispatch and routing, maximizing vehicle uptime, measuring safety performance, remote monitoring, customer support, and training for driver-partners and local communities [12]

Group 1 - The stock market is reflecting concerns in the macroeconomy, suggesting a need for careful stock-picking to outperform the market for the remainder of FY25 [1] - There is a trend of rotating out of large-cap growth stocks, indicating a shift in investment strategy [1] - Gary Alexander has extensive experience in technology sectors, both on Wall Street and in Silicon Valley, which informs his insights into current industry themes [1] Group 2 - The article expresses a beneficial long position in the shares of GRAB, indicating a positive outlook on the company's stock [2] - The author emphasizes that the opinions expressed are personal and not influenced by compensation from any company mentioned [2]

SINGAPORE, July 31, 2025 - Grab Holdings Limited (NASDAQ: GRAB) today announced unaudited financial results for the second quarter ended June 30, 2025. "We delivered another record quarter of profitable growth at scale, with over 46 million monthly transacting users powering the Grab ecosystem flywheel. Grab's growth engine continues to gain momentum, with On- Demand GMV accelerating to 21% year-over-year ("YoY") or 18% YoY on a constant currency basis , and Grab achieving our fourteenth consecutive quarter ...

Financial Data and Key Metrics Changes - Grab reported a 21% year-on-year growth in on-demand GMV in U.S. dollars, or 18% on a constant currency basis [6][7] - Adjusted EBITDA growth has been sustained for fourteen consecutive quarters, with trailing twelve months adjusted free cash flow expanding to $229 million [7] - The company achieved a margin of 8.7% for Mobility, nearing its steady state margin target of over 9% [17] Business Line Data and Key Metrics Changes - Mobility transactions grew by 23% year-on-year, with GMV increasing by 19% year-on-year [15] - Delivery GMV accelerated to 19% year-on-year on a constant currency basis, driven by product-led initiatives [22] - GrabFood for One and Saver products contributed significantly to transaction growth, with Saver accounting for 34% of delivery transactions in Q2 [25] Market Data and Key Metrics Changes - The company is actively participating in government initiatives in Indonesia and Thailand to support local economies and tourism [12][13] - Grab's financial services business saw total loan disposals reaching close to $3 billion on an annualized run rate basis in Q2 [7] Company Strategy and Development Direction - Grab is focusing on affordability and product-led innovations to drive user engagement and retention [10][11] - The company aims to sustain growth momentum and accelerate on-demand GMV growth rates relative to 2024 levels [8] - Grab is leaning into the autonomous vehicle opportunity, planning pilots and partnerships to expand its AV services across Southeast Asia [28][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties through product-led investments and partnerships with governments [10][11] - The outlook for the second half of the year is positive, with expectations for stronger adjusted EBITDA compared to the first half [13] Other Important Information - Grab's advertising revenue reached a run rate of $236 million, growing at 45%, with significant potential for further growth [70] - The company is committed to achieving steady state margins of over 4% in the delivery segment in the long term [27][51] Q&A Session Summary Question: Outlook for Grab in the macro environment and consumption trends - Management is focused on affordability and has launched products to enhance user engagement, positioning the company well amid macro uncertainties [10][11] Question: Strategies driving increase in mobility transaction frequency - The growth in mobility transactions is attributed to reinvestment in scale economies and product-led growth initiatives [14] Question: Impact of new delivery products on margins - Despite the introduction of affordable products, delivery segment margins have expanded, and the company expects to reach steady state margins of over 4% [26][51] Question: Contribution mix between premium and affordable rides - Saver rides now account for one-third of mobility transactions, while premium rides are also growing, indicating a balanced approach to pricing [52] Question: Competition in food delivery and capital allocation - Management acknowledged competitive dynamics but emphasized Grab's scale and reinvestment strategy to maintain growth [40][41] Question: Expectations for advertising revenue growth - The advertising business is expected to continue growing due to increased penetration among merchants and high returns on advertising spend [72] Question: Financial services loan portfolio growth - The loan portfolio is projected to exceed $1 billion by year-end, driven by strong product offerings and risk management strategies [84][86]