Financial Data and Key Metrics Changes - Total revenue for Q2 2025 reached RMB 127.2 million, a 60.8% increase year over year, driven by strong growth in both product and service segments [20] - Product revenue surged by 309.6% year over year to RMB 59.8 million, with robotaxi revenue hitting a record high of RMB 45.9 million, up 836.7% year over year, contributing 36.1% to total revenue [21] - Service revenue grew by 4.3% year over year to RMB 67.4 million, supported by intelligent data services and L4 operational support [22] - Gross profit increased by 40.6% to RMB 35.7 million, with a gross margin of 28.1% [23] - Net loss decreased by 1.7% to RMB 406.4 million, while on a non-IFRS basis, net loss increased to RMB 306.6 million due to ongoing R&D investments [26] Business Line Data and Key Metrics Changes - Robotaxi revenue accounted for 36% of total revenue, reflecting strong momentum and expected to remain a major contributor [38] - The company operates the largest robotaxi fleet in the Middle East, with rapid expansion in Abu Dhabi and the first robotaxi pilot in Riyadh [21][22] - R&D expenses increased by 33.1% to RMB 318.9 million, primarily due to personnel-related expenses and project services [24] Market Data and Key Metrics Changes - The company has expanded its global footprint to 10 cities, with significant operations in the Middle East, including partnerships with Uber and local authorities [9][10] - The robotaxi fleet in Dubai has tripled in size, covering approximately 50% of core areas, with plans to further scale [12] - The company holds autonomous driving permits in six countries, demonstrating its technology's compliance with high safety standards [22][18] Company Strategy and Development Direction - The company aims to transform future mobility through safe and accessible driverless solutions, with a focus on expanding robotaxi operations globally [9] - A multi-product strategy is employed, leveraging a universal platform to support various urban mobility applications, enhancing data collection and operational flexibility [31][32] - The Middle East is identified as a strategic priority for growth throughout 2025, with plans to expand commercial robotaxi services to 15 additional cities [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing expansion and commercialization of driverless services, highlighting successful partnerships and regulatory progress [26][27] - The company is optimistic about its ability to convert global potential into long-term value, supported by a strong liquidity position [26] - Management emphasized the importance of safety and compliance in scaling operations, with a commitment to maintaining high standards [18][24] Other Important Information - The company launched its proprietary computing platform, HPC 3.0, which significantly enhances AI computing power and reduces costs by 50% [16][17] - The robotaxi service has logged over 14 million kilometers of real-world autonomous driving mileage, continuously improving system reliability [18] Q&A Session Summary Question: Could you elaborate on the company's multi-product strategy and the relationship between Robotaxi and other products? - The company utilizes a multi-product strategy to access a larger pool of data and adapt to market readiness, with Robotaxi as the flagship use case [31][32] Question: Is the revenue contribution from the Robotaxi business expected to sustain in the coming quarters? - The company expects the trend to continue, driven by fleet expansion and a triple growth engine from hardware sales, service revenue, and revenue sharing [38] Question: When will the HPC 3.0 platform be deployed in the next generation robotaxi? - HPC 3.0 is already in use, enhancing computational power and user experience, ready for large-scale mass production [46][50] Question: How many permits are currently in the pipeline, and what are the expansion targets for Robotaxi? - The company has obtained driverless testing permits in various regions and aims to add hundreds of vehicles to its fleet by the end of the year, with a goal of thousands in 2026 [56][60] Question: What challenges does the company face in deploying robotaxi services in new markets? - Challenges include adapting technology to local conditions and navigating regulatory frameworks, but the company has built a strong understanding of these issues through experience [90][94] Question: How does the company sustain its technological leadership in the competitive landscape? - The company focuses on providing reliable and affordable services while advancing both robotaxi and ADAS technologies, ensuring a strong competitive edge [102]

Core Insights - WeRide reported Q2 2025 revenue of 127 million yuan, a year-on-year increase of 60.8%, while net loss narrowed to 406 million yuan from 414 million yuan in the same period last year [1] Financial Performance - The company's Robotaxi business generated 45.9 million yuan in revenue for Q2, marking a significant year-on-year growth of 836.7% [1] - Robotaxi business accounted for 36.1% of total revenue in Q2 [1] - WeRide achieved a gross profit of 35.7 million yuan, reflecting a year-on-year increase of 40.6%, with a gross margin of 28.1% [1] Regulatory Milestones - On July 28, WeRide announced that its Robotaxi received the first autonomous driving license in Saudi Arabia, making it the first technology company to hold autonomous driving licenses in six countries, including Saudi Arabia, China, UAE, Singapore, France, and the USA [1]

Core Viewpoint - WeRide, a leading global autonomous driving technology company, reported a significant revenue growth of 60.8% year-on-year for Q2 2025, driven primarily by its Robotaxi business, which saw an extraordinary increase of 836.7% in revenue [2][5][10]. Group 1: Financial Performance - The company's revenue for the quarter reached 127 million yuan, with Robotaxi revenue contributing 45.9 million yuan, accounting for 36.1% of total revenue, marking a new high since 2021 [2][5]. - Robotaxi has become the main growth engine for the company, with its revenue growth exceeding eight times compared to the previous year [5][10]. Group 2: Global Expansion - WeRide is rapidly expanding its global commercial footprint, holding licenses in six countries, including Saudi Arabia, China, UAE, Singapore, France, and the USA, which positions it uniquely in the market [4][7]. - In the Middle East, the company has tripled its Robotaxi fleet in Abu Dhabi since 2024 and has initiated the first pure unmanned Robotaxi road tests in the region [7]. Group 3: Business Development - Besides Robotaxi, WeRide's other business lines, including smart mobility, smart logistics, and smart sanitation, have also made substantial progress, creating a balanced growth landscape [9]. - The company has launched the first unmanned Robobus operation in Southeast Asia and has received the first road test license for its unmanned logistics vehicle in Guangzhou [9]. Group 4: Technological Advancements - WeRide has introduced a new HPC 3.0 computing platform powered by the latest DRIVE AGX Thor X chip, which has reduced the cost of its autonomous driving suite by 50% [9]. - The company’s Robotaxi equipped with the new chip has achieved 2000 TOPS AI computing power, setting a new benchmark for scalable autonomous driving [9]. Group 5: Strategic Outlook - The strong performance in Q2 indicates a critical moment in WeRide's globalization journey, with the Robotaxi's rapid growth validating the effectiveness of its "synchronous domestic and international expansion + deep cooperation" strategy [10]. - The company is expected to continue leading in the autonomous driving sector, particularly in the Middle East and Southeast Asia markets, as it benefits from cost reductions and regulatory breakthroughs [10].

Core Viewpoint - WeRide, a leading autonomous driving technology company, reported strong financial performance for Q2 2025, highlighting significant growth in its Robotaxi business and overall revenue [1][27]. Financial Performance - The company's Q2 revenue reached 127 million yuan, representing a year-on-year increase of 60.8% [4]. - Robotaxi business revenue for Q2 was 45.9 million yuan, showing a substantial year-on-year growth of 836.7% [4]. - The proportion of Robotaxi revenue in total Q2 revenue increased significantly to 36.1%, marking the highest level since 2021 [4]. - Gross profit grew by 40.6% year-on-year, indicating a steady improvement in profitability [4]. Business Expansion - The Robotaxi fleet in Abu Dhabi has tripled in size since 2024, demonstrating significant scalability [8]. - New operational areas include Al Reem Island and Al Maryah Island, covering nearly half of Abu Dhabi's core urban areas, with expected order volume to double [8]. - The Robotaxi fleet is projected to expand to hundreds of vehicles, with plans to extend operations to Khalifa City, Masdar City, and more areas by 2025 [8]. - WeRide has initiated the first pure unmanned Robotaxi road tests in the Middle East [9]. Strategic Partnerships - WeRide signed a cooperation agreement with Uber and the Dubai Roads and Transport Authority to deploy commercial Robotaxi services in Dubai [9]. - The company plans to start trial operations within the year and aims for pure unmanned Robotaxi commercial operations by 2026 [9]. Technological Advancements - WeRide's Robotaxi has received the first autonomous driving license in Saudi Arabia, making it the only technology company with autonomous driving licenses in six countries [12]. - The company launched the first Robotaxi trial operation service in Saudi Arabia, which is currently the only such service in the country [12]. - WeRide partnered with Chery and Jinjiang Taxi to conduct public road passenger-carrying autonomous driving demonstrations in Shanghai [13]. - The company introduced the HPC 3.0 high-performance computing platform, featuring NVIDIA's latest DRIVE AGX Thor X chip, enhancing the performance and cost-effectiveness of its autonomous driving technology [26]. Leadership Insights - The CEO emphasized that the strong Q2 performance marks a critical moment in WeRide's global journey, with rapid growth in the Robotaxi business validating the company's strategic vision [27]. - The CFO highlighted that the robust revenue performance reflects effective execution of growth strategies and the ongoing expansion of operational scale, with the Robotaxi business becoming a key component of the company's financial strength [28].

Core Insights - WeRide achieved a revenue of 127 million yuan in Q2 2025, marking a year-on-year growth of 60.8% [2] - The Robotaxi business generated revenue of 45.9 million yuan, reflecting a significant year-on-year increase of 836.7%, and accounted for 36.1% of total quarterly revenue, reaching a historical high since 2021 [2] - The company's net loss for Q2 2025 was 406 million yuan, slightly narrowing from a loss of 414 million yuan in the same period last year [2]

WeRide（文远知行）2025年第二季度业绩显示自动驾驶商业化进程显著提速。总收入同比增长60.8%至1.272亿元人民币（1780万美元），其中 robotaxi业务收入暴增836.7%至4590万元人民币（640万美元），创下公司成立以来单季度robotaxi收入新高。 31日周四，文远知行公布2025 Q2财报： | WeRide Inc. | | --- | | Unaudited Condensed Consolidated Statements of Financial Position | | | | HS OI | | | --- | --- | --- | --- | | | June 30. | June 30, | December 31, | | | 2025 | 2025 | 2024 | | | RMB'000 | USD'000 | RMB'000 | | ASSETS | | | | | Non-current assets | | | | | Property and equipment | 281,968 | 39.361 | 178.179 | | Right-of-u ...

WeRide （文远知行）2025年第二季度业绩显示自动驾驶商业化进程显著提速。总收入同比增长60.8%至1.272亿元人民币（1780万美元），其中robotaxi 业务收入暴增836.7%至4590万元人民币（640万美元），创下公司成立以来单季度robotaxi收入新高。 31日周四，文远知行公布2025 Q2财报： | | As of | | | | --- | --- | --- | --- | | | June 30. | June 30, | December 31, | | | 2025 | 2025 | 2024 | | | RMB'000 | USD'000 | RMB'000 | | ASSETS | | | | | Non-current assets | | | | | Property and equipment | 281,968 | 39,361 | 178,179 | | Right-of-use assets | 72,951 | 10,184 | 73,564 | | Intangible assets | 19.544 | 2.728 | 21,664 | | Good ...

文、图/广州日报新花城记者：周伟力 （文章来源：广州日报） 7月31日，文远知行WeRide发布2025年二季度财报。二季度，企业营收1.27亿元，同比增长60.8%；Robotaxi业务二季度营收4,590万元，同比大幅增长 836.7%；Robotaxi业务占二季度营收比例大幅提升至36.1%，创2021年以来单季度历史新高。 数据还显示，二季度，企业毛利同比增长40.6%，增速稳步提升；阿布扎比Robotaxi车队规模自2024年以来增长到3倍，规模化效应显著提升； Robotaxi安全运营超2,200天。 ...

[Company Overview and Recent Highlights](index=1&type=section&id=Company%20Overview%20and%20Recent%20Highlights) This section provides an overview of WeRide's technological advancements, global operational expansion, and key financial performance in Q2 2025 [Redefining Autonomous Driving with Leading Technology Breakthroughs](index=1&type=section&id=Redefining%20Autonomous%20Driving%20with%20Leading%20Technology%20Breakthroughs) WeRide achieved significant breakthroughs in autonomous driving technology, launching the high-performance computing platform HPC 3.0 and collaborating with Chery Group on a new generation Robotaxi to reduce costs and enable large-scale commercial deployment - WeRide launched the high-performance computing 3.0 platform, powered by NVIDIA DRIVE AGX Thor chips, reducing autonomous driving suite costs by **50%** and achieving **100% automotive-grade standards**[6](index=6&type=chunk) - The HPC 3.0 platform was first applied to WeRide's latest generation Robotaxi GXR, making it the **world's first L4 autonomous vehicle mass-produced based on NVIDIA DRIVE AGX Thor**[6](index=6&type=chunk) - A new generation Robotaxi model, CER, was jointly developed with Chery Group, based on the WeRide One universal autonomous driving platform and EXEED's STERRA ET vehicle architecture, equipped with **over 20 sensors** and a **five-layer redundant safety system**[6](index=6&type=chunk)[7](index=7&type=chunk) [Unparalleled Robotaxi Footprint Validated by Global Operations](index=2&type=section&id=Unparalleled%20Robotaxi%20Footprint%20Validated%20by%20Global%20Operations) WeRide accelerated the global expansion of Robotaxi and Robobus services, securing operational permits in key international markets and significantly expanding its fleet, particularly in the Middle East - Abu Dhabi (UAE): The WeRide-Uber Robotaxi fleet has **tripled in size** since December 2024, covering approximately **50% of the city's core areas**, with a goal to expand the fleet to hundreds of vehicles and has commenced driverless testing[6](index=6&type=chunk)[12](index=12&type=chunk) - Shanghai (China): Launched L4 Robotaxi ride-hailing services in Shanghai in partnership with Chery Group and Jinjiang Taxi, marking WeRide Robotaxi's official entry into its **tenth global city**[12](index=12&type=chunk) - Riyadh (Saudi Arabia): Obtained Saudi Arabia's **first Robotaxi autonomous driving permit**, making WeRide the **only technology company globally with autonomous driving permits in six countries** (Saudi Arabia, China, UAE, Singapore, France, USA); launched pilot operations in Riyadh with Uber and local partner Ai Driver, with commercial services expected by **end of 2025**[6](index=6&type=chunk)[12](index=12&type=chunk) - Dubai (UAE): Signed an MoU with Dubai's Roads and Transport Authority and Uber, planning to launch Robotaxi pilot operations via the Uber platform **later in 2025**, with driverless services planned for **2026**[12](index=12&type=chunk) - Singapore: Received approval from Singapore's Land Transport Authority to launch fully driverless Robobus services at Resorts World Sentosa, becoming **Southeast Asia's first autonomous vehicle without a safety driver**[15](index=15&type=chunk) - Paris (France): Partnered with Renault Group for the **second consecutive year** to provide L4 autonomous minibus shuttle services for the French Open, with **added night services**[15](index=15&type=chunk) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) WeRide demonstrated strong financial growth in Q2 2025, with record-high Robotaxi revenue becoming a significant component of total revenue, while maintaining industry-leading gross margins Key Financial Highlights for Q2 2025 | Indicator | Q2 2025 (RMB) | YoY Growth | | :--- | :--- | :--- | | Total Revenue | 127.2 million RMB (17.8 million USD) | 60.8% | | Robotaxi Revenue | 45.9 million RMB (6.4 million USD) | 836.7% | | Gross Profit | 35.7 million RMB (5.0 million USD) | 40.6% | | Gross Margin | 28.1% | - | - Robotaxi revenue accounted for **36.1% of total revenue** in Q2 2025, representing the **highest quarterly revenue contribution since 2021**[6](index=6&type=chunk) [Management Commentary](index=3&type=section&id=Management%20Commentary) This section presents the management's strategic perspectives on WeRide's Q2 2025 performance, emphasizing global expansion, technological leadership, and commitment to advancing autonomous mobility [Management Perspectives](index=3&type=section&id=Management%20Perspectives) Management highlights Q2 2025 results as a pivotal moment for WeRide's globalization, with rapid Robotaxi growth validating its global expansion and strong partnerships strategy. The company is committed to expanding safe autonomous transportation through advanced technology and regulatory breakthroughs, leading the evolution of global mobility - CEO Tony Han stated that the Q2 performance marks a **critical moment in WeRide's globalization journey**, with rapid Robotaxi business growth validating its strategic vision, and the HPC 3.0 platform setting a **new benchmark for scalable, high-performance autonomous driving**[13](index=13&type=chunk) - CFO Jennifer Li noted that the strong revenue performance reflects **effective execution of growth strategies** and **continuous expansion of operational scale**, with Robotaxi business increasingly contributing to revenue structure and overall financial strength, and international business expansion leading to **improved unit economics and enhanced commercial viability**[13](index=13&type=chunk) [Unaudited Second Quarter 2025 Financial Results](index=3&type=section&id=Unaudited%20Second%20Quarter%202025%20Financial%20Results) This section details WeRide's unaudited financial performance for Q2 2025, covering revenue, cost of revenue, gross profit, operating expenses, and net loss [Revenues](index=3&type=section&id=Revenues) Total revenue in Q2 2025 significantly increased, primarily driven by a substantial rise in product revenue (especially Robotaxi and Robosweeper sales) and growth in service revenue from intelligent data services Total Revenue Overview | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | Total Revenue | 127.2 million RMB (17.8 million USD) | 79.1 million RMB | 60.8% | [Product revenue](index=3&type=section&id=Product%20revenue) Product revenue saw substantial year-over-year growth, primarily due to increased sales of Robotaxi and Robosweeper units Product Revenue Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | Product Revenue | 59.8 million RMB (8.3 million USD) | 14.6 million RMB | 309.6% | - Product revenue growth was primarily attributable to increased sales of **Robotaxi and Robosweeper units**, partially offset by a decrease in Robobus sales[16](index=16&type=chunk) [Service revenue](index=3&type=section&id=Service%20revenue) Service revenue experienced modest growth, driven by new intelligent data services and increased autonomous driving operational support, despite a reduction in ADAS R&D service income Service Revenue Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | Service Revenue | 67.4 million RMB (9.4 million USD) | 64.6 million RMB | 4.3% | - Service revenue growth primarily stemmed from **intelligent data services (an increase of 35.8 million RMB)** and **autonomous driving-related operations and technical support services (an increase of 2.5 million RMB)**, partially offset by a decrease in ADAS R&D service revenue of **35.5 million RMB**[16](index=16&type=chunk) [Robotaxi revenue](index=3&type=section&id=Robotaxi%20revenue) Robotaxi revenue reached a new quarterly high, significantly contributing to total revenue and reflecting strong market penetration Robotaxi Revenue Details | Indicator | Q2 2025 (RMB) | YoY Growth | | :--- | :--- | :--- | | Robotaxi Revenue | 45.9 million RMB (6.4 million USD) | 836.7% | | Percentage of Total Revenue | 36.1% | - | - Robotaxi revenue reached a **new quarterly high since the company's inception**, and its proportion of total revenue was the **highest since 2021**[16](index=16&type=chunk) [Cost of revenue](index=4&type=section&id=Cost%20of%20revenue) Cost of revenue increased in Q2 2025 in line with revenue growth, mainly driven by higher costs of goods sold and intelligent data services Cost of Revenue Overview | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | | :--- | :--- | :--- | | Cost of Revenue | 91.5 million RMB (12.8 million USD) | 53.7 million RMB | [Cost of goods sold](index=4&type=section&id=Cost%20of%20goods%20sold) Cost of goods sold increased, consistent with the growth in product revenue Cost of Goods Sold Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | | :--- | :--- | :--- | | Cost of Goods Sold | 30.7 million RMB (4.3 million USD) | 11.0 million RMB | - The increase in cost of goods sold was **consistent with the growth in product revenue**[21](index=21&type=chunk) [Cost of services](index=4&type=section&id=Cost%20of%20services) Service costs rose due to increased intelligent data services and operational support, partially offset by reduced ADAS R&D service costs Cost of Services Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | | :--- | :--- | :--- | | Cost of Services | 60.8 million RMB (8.5 million USD) | 42.7 million RMB | - The increase in service costs was primarily due to higher costs for **intelligent data services (29.8 million RMB)** and **operations and technical support services (9.4 million RMB)**, partially offset by a decrease in ADAS R&D service costs of **21.1 million RMB**[21](index=21&type=chunk) [Gross Profit and Gross Margin](index=4&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit increased year-over-year in Q2 2025, with the overall gross margin remaining industry-leading, notably with product gross margin significantly higher than service gross margin Gross Profit and Gross Margin Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | Gross Profit | 35.7 million RMB (5.0 million USD) | 25.4 million RMB | 40.6% | | Overall Gross Margin | 28.1% | - | - | | Product Gross Profit | 29.1 million RMB (4.1 million USD) | - | - | | Product Gross Margin | 48.6% | - | - | | Service Gross Profit | 6.6 million RMB (0.9 million USD) | - | - | | Service Gross Margin | 9.8% | - | - | [Operating Expenses](index=4&type=section&id=Operating%20Expenses) Operating expenses significantly increased in Q2 2025, driven by higher personnel-related costs, R&D service fees, and administrative expenses such as audit and legal compliance services Operating Expenses Overview | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | | :--- | :--- | :--- | | Operating Expenses | 487.8 million RMB (68.1 million USD) | 342.4 million RMB | - The change in operating expenses was primarily due to an increase of **63.6 million RMB in personnel-related expenses (including share-based compensation expenses)**, an increase of **31.5 million RMB in autonomous driving R&D service fees**, and an increase of **28.9 million RMB in audit and legal compliance service fees**[19](index=19&type=chunk) [Research and development (R&D) expenses](index=4&type=section&id=Research%20and%20development%20(R%26D)%20expenses) R&D expenses increased substantially, primarily due to higher personnel costs, R&D project service fees, and material consumption and depreciation expenses R&D Expenses Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | R&D Expenses | 318.9 million RMB (44.5 million USD) | 239.6 million RMB | 33.1% | | R&D Expenses Excluding Share-based Compensation | 280.3 million RMB | 186.3 million RMB | 50.5% | - The significant increase in R&D expenses was primarily due to higher **personnel-related expenses (45.1 million RMB)**, **R&D project service fees (31.5 million RMB)**, and **material consumption and depreciation and amortization expenses (14.3 million RMB)**[22](index=22&type=chunk) [Selling expenses](index=4&type=section&id=Selling%20expenses) Selling expenses increased, with the growth in selling expenses excluding share-based compensation remaining significantly lower than revenue growth Selling Expenses Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | Selling Expenses | 13.8 million RMB (1.9 million USD) | 12.3 million RMB | 12.9% | | Selling Expenses Excluding Share-based Compensation | 12.1 million RMB | 10.3 million RMB | 17.5% | - Selling expenses excluding share-based compensation increased by **17.5%**, which was **significantly lower than the growth in sales**[22](index=22&type=chunk) [Administrative expenses](index=4&type=section&id=Administrative%20expenses) Administrative expenses rose significantly, mainly driven by increased professional service fees for audit and legal compliance, and higher personnel costs to support business growth Administrative Expenses Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | Administrative Expenses | 155.1 million RMB (21.6 million USD) | 90.5 million RMB | 71.3% | | Administrative Expenses Excluding Share-based Compensation | 75.6 million RMB | 39.0 million RMB | 93.8% | - The significant increase in administrative expenses was primarily due to higher **professional service fees (mainly for audit and legal compliance services, 28.9 million RMB)** and increased **personnel costs (5.1 million RMB)** to support business growth[22](index=22&type=chunk) [Net Loss and Net Loss per ADS](index=4&type=section&id=Net%20Loss%20and%20Net%20Loss%20per%20ADS) The company's net loss slightly narrowed in Q2 2025, but non-IFRS adjusted net loss expanded, while basic and diluted net loss per ADS significantly improved Net Loss and Net Loss per ADS Details | Indicator | Q2 2025 (RMB) | Q2 2024 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Net Loss | 406.4 million RMB (56.7 million USD) | 413.6 million RMB | Decreased by 1.7% | | Non-IFRS Adjusted Net Loss | 300.6 million RMB (42.0 million USD) | 174.6 million RMB | Increased by 72.2% | | Basic and Diluted Net Loss per ADS | 1.35 RMB (0.18 USD) | 10.11 RMB | Decreased by 86.6% | [Unaudited Condensed Consolidated Statements of Financial Position](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Financial%20Position) This section presents WeRide's unaudited consolidated statements of financial position as of June 30, 2025, detailing assets, liabilities, and equity [Assets](index=6&type=section&id=Assets) As of June 30, 2025, total assets slightly decreased from year-end 2024, with a reduction in cash and cash equivalents, but increases in inventory and financial assets at fair value through profit or loss (current) Assets Overview | Indicator | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Total Non-current Assets | 510,696 | 405,775 | | Inventories | 289,929 | 204,705 | | Financial assets at fair value through profit or loss - current | 1,735,333 | 1,685,146 | | Cash and cash equivalents | 3,836,137 | 4,268,300 | | **Total Assets** | **7,145,853** | **7,693,770** | [Liabilities and Equity](index=7&type=section&id=Liabilities%20and%20Equity) As of June 30, 2025, total liabilities increased, primarily driven by significant growth in short-term bank borrowings and trade payables, while total equity decreased Liabilities and Equity Overview | Indicator | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | **Total Equity** | **6,463,756** | **7,066,019** | | Total Non-current Liabilities | 80,817 | 85,262 | | Short-term bank borrowings | 102,275 | 30,019 | | Trade payables | 47,117 | 20,713 | | **Total Liabilities** | **682,097** | **627,751** | [Cash and Borrowings](index=5&type=section&id=Cash%20and%20Borrowings) As of June 30, 2025, the company maintained ample cash, cash equivalents, and wealth management product investments, alongside manageable long-term and short-term bank borrowings Cash and Borrowings Status | Indicator | As of June 30, 2025 (RMB) | | :--- | :--- | | Cash and cash equivalents and time deposits | 4.0879 billion RMB (570.6 million USD) | | Investments in wealth management products (FVTPL) | 1.7353 billion RMB (242.2 million USD) | | Restricted cash | 15.4 million RMB (2.2 million USD) | | Long-term bank borrowings | 47.5 million RMB (6.6 million USD) | | Short-term bank borrowings | 102.3 million RMB (14.3 million USD) | [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) This section provides WeRide's unaudited condensed consolidated statements of comprehensive income for Q2 2025, detailing revenue, costs, operating expenses, and net loss [Income Statement Overview](index=8&type=section&id=Income%20Statement%20Overview) In Q2 2025, the company achieved significant total revenue growth but recorded a net loss due to increased operating expenses, particularly R&D and administrative costs, though net loss per ADS improved substantially year-over-year Condensed Consolidated Statements of Comprehensive Income for Q2 2025 (Key Metrics) | Indicator | Q2 2025 (RMB'000) | Q2 2024 (RMB'000) | YoY Change (%) | | :-------------------------------- | :------------------------------------- | :------------------------------------- | :------------- | | **Revenues** | | | | | Product revenue | 59,781 | 14,567 | 310.4% | | Service revenue | 67,397 | 64,556 | 4.4% | | **Total Revenues** | **127,178** | **79,123** | **60.7%** | | **Cost of Revenues** | | | | | Cost of goods sold | (30,699) | (10,989) | 179.3% | | Cost of services | (60,775) | (42,711) | 42.3% | | **Total Cost of Revenues** | **(91,474)** | **(53,700)** | **70.3%** | | **Gross Profit** | **35,704** | **25,423** | **40.4%** | | **Operating Expenses** | | | | | R&D expenses | (318,918) | (239,579) | 33.1% | | Selling expenses | (13,849) | (12,263) | 12.9% | | Administrative expenses | (155,061) | (90,510) | 71.3% | | **Operating Loss** | **(453,864)** | **(322,713)** | **40.6%** | | **Loss for the period** | **(406,445)** | **(413,618)** | **-1.7%** | | **Basic and diluted loss per ADS** | **(1.35)** | **(10.11)** | **-86.6%** | [Reconciliation of IFRS and Non-IFRS results](index=9&type=section&id=Reconciliation%20of%20IFRS%20and%20Non-IFRS%20results) This section provides a reconciliation between IFRS net loss and non-IFRS adjusted net loss, highlighting adjustments for non-cash items to present a clearer view of core operational performance [Non-IFRS Adjusted Net Loss Reconciliation](index=9&type=section&id=Non-IFRS%20Adjusted%20Net%20Loss%20Reconciliation) The company provides a reconciliation of IFRS net loss to non-IFRS adjusted net loss, which excludes share-based compensation, fair value changes of financial assets at FVTPL, and changes in the carrying value of preferred shares and other financial instruments IFRS and Non-IFRS Performance Reconciliation (Q2 2025) | Indicator | Q2 2025 (RMB'000) | Q2 2024 (RMB'000) | | :--- | :--- | :--- | | Loss for the period | (406,445) | (413,618) | | Add: Share-based compensation expenses | 119,858 | 108,274 | | Add: Fair value change of financial assets at fair value through profit or loss | (13,971) | (1,094) | | Add: Change in carrying value of preferred shares and other financial instruments | - | 131,842 | | **Adjusted Net Loss** | **(300,558)** | **(174,596)** | - Non-IFRS adjusted net loss is defined as loss for the period, excluding **share-based compensation expenses**, **fair value change of financial assets at fair value through profit or loss**, and **change in carrying value of preferred shares and other financial instruments**[40](index=40&type=chunk) [Additional Information](index=5&type=section&id=Additional%20Information) This section provides supplementary details including exchange rate information, the company's use of non-IFRS financial measures, conference call details, company overview, and a safe harbor statement [Exchange Rate Information](index=5&type=section&id=Exchange%20Rate%20Information) This announcement converts RMB amounts to USD using the exchange rate of 1 USD to 7.1636 RMB, as set by the US Federal Reserve Board H.10 statistical release on June 30, 2025 - Unless otherwise stated, all RMB to USD conversions are made at the exchange rate of **1 USD to 7.1636 RMB**, as set forth in the US Federal Reserve Board H.10 statistical release on **June 30, 2025**[23](index=23&type=chunk) [Use of Non-IFRS Financial Measures](index=5&type=section&id=Use%20of%20Non-IFRS%20Financial%20Measures) The company uses non-IFRS adjusted net loss as a supplementary metric to evaluate operating performance and formulate business plans, excluding non-cash adjustments to better reflect core operations, while cautioning investors that non-IFRS metrics are not IFRS-defined and may differ from other companies' calculations - The company uses adjusted net loss as a supplementary metric to assess operating performance, believing it helps investors and management understand and evaluate the **company's consolidated operating results**[24](index=24&type=chunk)[25](index=25&type=chunk) - Adjusted net loss is defined as loss for the period, excluding **share-based compensation expenses**, **fair value change of financial assets at fair value through profit or loss**, and **change in carrying value of preferred shares and other financial instruments**[24](index=24&type=chunk) - Non-IFRS financial measures are not IFRS-defined, should not be considered in isolation, and may differ from those calculated by other companies; investors should **review the company's financial information comprehensively**[26](index=26&type=chunk)[27](index=27&type=chunk) [Conference Call Information](index=5&type=section&id=Conference%20Call%20Information) WeRide will host its Q2 2025 earnings conference call on July 31, 2025, providing online registration and a webcast - WeRide's management team will host an earnings conference call on **Thursday, July 31, 2025, at 8:00 AM U.S. Eastern Time (8:00 PM Beijing Time)**[28](index=28&type=chunk) - All participants are required to complete online registration in advance via the provided link, after which they will receive dial-in numbers and a **unique access PIN**[28](index=28&type=chunk) - A live and archived webcast of the conference call will be available on the company's investor relations website at **ir.weride.ai**[30](index=30&type=chunk) [About WeRide](index=6&type=section&id=About%20WeRide) WeRide is a global leader in autonomous driving and the first listed Robotaxi company, offering L2 to L4 autonomous driving products and services, tested or operated in over 30 cities across 10 countries, with permits in 6 markets - WeRide is a **global pioneer in the autonomous driving industry** and the **first listed Robotaxi company**[31](index=31&type=chunk) - The company's autonomous vehicles have been **tested or operated in over 30 cities across 10 countries**, and have obtained autonomous driving permits in **six markets**, including China, France, Saudi Arabia, Singapore, UAE, and the USA[31](index=31&type=chunk) - WeRide offers autonomous driving products and services from **L2 to L4**, catering to the mobility, logistics, and sanitation industries, and was included in **Fortune Magazine's 2024 "Future 50" list**[31](index=31&type=chunk) [Safe Harbor Statement](index=6&type=section&id=Safe%20Harbor%20Statement) This press release contains "forward-looking" statements under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995, which involve inherent risks and uncertainties, and the company undertakes no obligation to update them unless required by applicable law - This press release contains statements that may constitute **"forward-looking" statements**, which involve inherent risks and uncertainties[32](index=32&type=chunk) - The company undertakes **no obligation to update any forward-looking statements**, except as required by applicable law[32](index=32&type=chunk)

Core Insights - WeRide reported a revenue of 127 million yuan for Q2 2025, representing a year-on-year growth of 60.8% [1] - The Robotaxi business generated revenue of 45.9 million yuan in Q2, showing a remarkable year-on-year increase of 836.7% [1] - The proportion of Robotaxi revenue in total revenue reached 36.1% in Q2, marking the highest quarterly ratio since 2021 [1] - Gross profit increased by 40.6% year-on-year, indicating a steady growth trend [1] Business Expansion - The size of WeRide's Robotaxi fleet in Abu Dhabi has tripled since 2024, enhancing the scale effect [1] - The Robotaxi service has been operating safely for over 2,200 days [1]