Core Viewpoint - The recent public offering of Wenyan Zhixing in the Hong Kong stock market has garnered significant attention, with a strong oversubscription rate and positive investor sentiment driven by key strategic developments and management confidence [1][3]. Group 1: Public Offering Details - Wenyan Zhixing set the upper limit of its share price at 35 HKD, with an entry fee of approximately 3535.3 HKD per lot, achieving over 50 times oversubscription during the public offering phase [1]. - The international placement portion also received multiple coverage, attracting various institutional investors, long-term funds, hedge funds, and high-net-worth individuals [3]. Group 2: Management Confidence and Strategic Developments - The company's founder and CEO, Dr. Han Xu, signed a voluntary lock-up agreement, committing to not sell shares for the next three years, reflecting management's strong confidence in the company's long-term value [3]. - Wenyan Zhixing made significant strides in its Middle East strategy, successfully obtaining a city-level commercial license for fully autonomous Robotaxi operations in the UAE [3]. Group 3: Financial Performance and Market Position - According to Zhaoshang Consulting, Wenyan Zhixing holds a significant position in the autonomous driving sector, with projected revenue of 127 million CNY in Q2 2025, representing a substantial year-on-year growth of 60.8% [3]. - The company currently operates over 1500 autonomous vehicles, leading to high market expectations for its future stock performance [3].

Core Points - WeRide Inc. has announced the pricing of its global offering of 88,250,000 Class A ordinary shares, which includes both an international offering and a Hong Kong public offering [1][2] - The final offering price is set at HK$27.10 per share, translating to approximately US$10.36 per American depositary share (ADS) [2] - The gross proceeds from the global offering are expected to be HK$2,391.6 million, or HK$2,750.3 million if the over-allotment option is exercised in full [5] Offering Details - The company has granted an over-allotment option for an additional 13,237,500 shares to international underwriters [3] - Trading of the Class A ordinary shares on the Hong Kong Stock Exchange is expected to begin on November 6, 2025, under the stock code "0800" [4] - The offering is subject to customary closing conditions and is expected to close on the same day [4] Use of Proceeds - The net proceeds from the global offering will be used to further develop autonomous driving technology, accelerate commercial mass production of L4 fleets, enhance product quality, expand business scale, and support marketing efforts [5] Company Background - WeRide is a leader in the autonomous driving industry and the first publicly traded Robotaxi company, with operations in over 30 cities across 11 countries [11] - The company has received autonomous driving permits in seven markets, including China, the UAE, and the United States [11] - WeRide's products and services range from L2 to L4 autonomous driving solutions, addressing various transportation needs [11]

Group 1: WeRide Inc. Share Sale - WeRide Inc. raised over $308 million through the sale of over 88 million shares priced between HK$27.10 and HK$35 ahead of its Hong Kong Stock Exchange debut on November 6 [1][2] - The share sale generated over HK$2.39 billion ($308 million), with the potential to increase to $354 million if the greenshoe option is exercised [2] Group 2: Utilization of Funds - The funds raised from the listing will be used to develop Robotaxi technology, expand into new markets, and scale up commercialization [3] Group 3: Industry Developments - Baidu's Robotaxi service, Apollo Go, recently achieved a milestone of 250,000 weekly rides after completing over 140 million driverless miles and 17 million Robotaxi orders [4] - Uber signed a deal with Nvidia to deploy over 100,000 Robotaxis by 2027 and has a separate agreement with Lucid Group for 20,000 Robotaxis over the next six years [5] - Uber's CEO predicts that all cars will be autonomous in the next 20-plus years, with a focus on autonomous technology in the upcoming earnings call [6] - Tesla's Cybercab was spotted testing in California, indicating progress in its production plans at the Gigafactory in Texas [7]

Core Viewpoint - Chinese autonomous driving firm WeRide plans to price its Hong Kong share sale at HK$27.10 per share, aiming to raise HK$2.39 billion ($307.7 million) from the listing [1] Company Summary - WeRide is an autonomous driving company based in China [1] - The company is preparing for a share sale in Hong Kong [1] Financial Summary - The planned share price is HK$27.10 per share [1] - The total amount aimed to be raised from the listing is HK$2.39 billion, equivalent to approximately $307.7 million [1]

Core Viewpoint - Autonomous driving company WeRide plans to raise HKD 2.39 billion (approximately USD 308 million) through its initial public offering (IPO) in Hong Kong, marking a trend of Chinese companies seeking secondary listings in the region [2][2]. Company Summary - WeRide intends to set the IPO price at HKD 27.10 per share, with plans to issue approximately 88 million shares [2][2]. - The previously established upper limit for the share price range was HKD 35 [2]. - The IPO price represents a nearly 4% discount compared to the closing price of WeRide's American Depositary Shares (ADS) on Nasdaq, where one ADS is equivalent to three ordinary shares [2][2]. Industry Context - WeRide is set to list on November 6 in Hong Kong, coinciding with the listing of its competitor Pony.ai, which aims to raise HKD 6.7 billion through its IPO [2][2]. - Both companies were previously listed in the United States last year, indicating a shift in strategy towards the Hong Kong market for capital raising [2][2].

Core Insights - The global autonomous vehicle market is projected to grow significantly, from $68.09 billion in 2024 to $214.32 billion by 2030, reflecting a compound annual growth rate (CAGR) of 19.9% [3] - WeRide, a Chinese company, has received a federal-level license to operate fully driverless robotaxis in the UAE, expanding its presence in the Middle East [2] - North America accounts for only 37% of the global autonomous vehicle market, with the Asia-Pacific region identified as the fastest-growing market [1] Company Overview - WeRide is based in Guangzhou, China, and specializes in autonomous vehicles, including self-driving taxis, buses, vans, and robosweeper street sweeping vehicles [4] - The company operates in 11 countries and develops products with automation levels ranging from Level 2 to Level 4, where Level 4 vehicles are fully automated within a defined operational design domain [5] Stock Performance - WeRide began trading on the Nasdaq on October 24, 2025, and initially saw a stock price surge due to a $25 million investment from Nvidia, but has since experienced a decline, with WRD stock down 31% since inception and a year-to-date loss of 24% [6] - The company's price-to-sales ratio stands at 33.5, significantly higher than Tesla's 16.8 and Alphabet's 8.9, indicating a high valuation [6] Financial Performance - WeRide reported second-quarter revenue of $17.8 million, marking a 60.8% increase year-over-year, but posted a net loss of $56.7 million, a decrease of 1.7% from the previous year [7] - The company maintains a strong cash position of $570.6 million, which may support its future growth initiatives [7]

Core Viewpoint - WeRide, a leading autonomous driving technology company, announced comprehensive autonomous driving services for the upcoming National Games and the 12th National Paralympic Games in Guangzhou, showcasing its innovative L4-level urban public transport vehicle [1][8]. Group 1: Autonomous Driving Services - WeRide will provide full-scale autonomous driving services during the events, including 11 autonomous travel routes connecting key locations such as transportation hubs, hotels, and event venues [5][6]. - The "WeRide Travel" app and "National Games Guangzhou" WeChat mini-program will allow media, staff, and spectators to easily book rides from November 3 to December 15 [5][6]. Group 2: Vehicle Launch and Features - The GXR autonomous driving model, developed by WeRide in collaboration with Guangzhou Public Transport Group and GAC, was unveiled at the launch ceremony and will be used for event support [1][8]. - A new 21-seat autonomous bus, approximately 8.5 meters long, will also be deployed, featuring a 360-degree perception system and accessibility features for individuals with disabilities [8][11]. Group 3: Environmental Services - WeRide will utilize its autonomous street cleaning vehicle S1 and autonomous sanitation vehicle S6 to maintain cleanliness around event venues and key urban areas during the games [11]. - This initiative aims to ensure a clean and orderly environment for the events, demonstrating the practical application of autonomous technology in public services [11][13].

TABLE OF CONTENTS Exhibit 99.1 WeRide Inc. Supplemental and Updated Disclosures WeRide Inc., or the Company, has filed an application, or the Listing Application, with the Stock Exchange of Hong Kong Limited, or the Hong Kong Stock Exchange, in connection with a proposed dual primary listing, or the Listing, of its Class A ordinary shares, or the Shares, on the Main Board of the Hong Kong Stock Exchange together with a Hong Kong initial public offering and a global offering of the Shares, or this Global Off ...

Core Insights - The article discusses allegations made by WeRide's CFO against Pony.ai regarding misleading information presented to investors during a roadshow [2][4] - It highlights the competitive landscape between the two companies as they both prepare for their respective IPOs [4][5] Group 1: Allegations by WeRide - WeRide accuses Pony.ai of fabricating operational regions, claiming that WeRide provides fully autonomous Robotaxi services in multiple cities, contrary to Pony.ai's assertion that it only operates in Beijing [2] - WeRide refutes claims of operational data falsification, stating it has over 700 Robotaxi vehicles and more than 2,200 days of public operation records [2] - The technical capabilities of WeRide are defended, with evidence from Bosch and Chery supporting its end-to-end production application, while criticizing Pony.ai's claims of superior technology [2] Group 2: Company Backgrounds - Pony.ai, founded in 2016, is focused on providing comprehensive autonomous driving technology and has recently passed the Hong Kong Stock Exchange hearing, marking a significant step towards its IPO [4] - WeRide, established in 2017, aims to revolutionize transportation through autonomous driving technology and offers a range of products from L2 to L4 autonomous driving solutions [4] - WeRide has recently listed on NASDAQ as the first global autonomous driving stock and is preparing for a secondary listing in Hong Kong [5]

公司暗盘交易将于11月5日16:15开启，投资者情绪或受两大因素支撑——其一，创始人兼CEO韩旭博士日前签署自愿锁定期协议，承诺未来三年不减持公司 股份，此举被市场视为管理层致力于公司稳健发展的决心，以及对公司长期价值的信心； 雷递网 乐天 11月3日 文远知行-W（0800.HK）港股公开发售已于11月3日截止。此次招股发行价上限为每股35港元，每手入场费约3535.3港元，公开认购共获逾50倍超额认购。 另有市场消息指出，公司国际配售部分已获多倍覆盖，吸引来自产业投资者、长线基金、对冲基金及高净值个人等专业投资者踊跃认购。 —————————————— 雷递由媒体人雷建平创办，若转载请写明来源。 此外，招股期间公司在中东战略上取得全新突破，于阿联酋获批城市级纯无人Robotaxi商业化牌照，进一步巩固其在中东市场的先发优势。 根据灼识咨询的资料，2024年，以城市道路L4级及以上自动驾驶产生的收入计，文远知行占据21.8%的市场份额。2025年二季度，文远知行营收1.27亿元， 同比大幅增长60.8%；其中，Robotaxi业务二季度营收4,590万元，同比大幅增长836.7%，创公司成立以来单季度新纪录 ...