Core Viewpoint - The company has made significant strides in expanding its Robotaxi operations globally, but its financial performance has not kept pace with this growth, resulting in substantial losses [1][2]. Financial Performance - In Q1 2025, the company's total revenue was 72.44 million yuan, a year-on-year increase of 1.8%, while net losses reached 385 million yuan, nearly five times the revenue [1]. - Adjusted net losses, excluding stock-based compensation and investment fluctuations, amounted to 295 million yuan, double that of the same period last year [1]. - The Robotaxi business showed impressive growth, with a nearly 200% year-on-year increase, raising its revenue contribution from 12% to 22%, but still generated only 16.1 million yuan in revenue, insufficient to impact the overall financial situation [1]. Revenue Sources - The company's existing service revenue is declining, particularly due to the conclusion of customized ADAS development projects in the second half of last year, leading to a year-on-year decrease of nearly 1.8 million yuan in service revenue [2]. Expenditure Analysis - R&D expenses reached 326 million yuan, a 17% year-on-year increase, while sales expenses surged by 67%, and administrative expenses (excluding stock-based compensation) doubled [3]. - The increase in expenses suggests the company is preparing for international expansion and mass production, possibly by expanding its talent pool and enhancing financial and legal systems [3]. Cash Position - As of the end of March, the company had 6.1 billion yuan in cash and equivalents, bolstered by previous funding rounds, including a new $100 million subscription agreement from Uber [3]. - Despite the substantial cash reserves, the low revenue of less than 100 million yuan in the current quarter indicates inefficient cash turnover, with significant amounts tied up in capital expenditures and R&D investments, leading to longer return periods [3]. Investor Sentiment - Investors are increasingly focused on when the Robotaxi operations will become profitable rather than just when they will be operational [4].

Group 1 - The new U.S. budget bill raises concerns among traders about the deficit, leading to poor results in U.S. Treasury auctions and accelerating bond market sell-offs, which in turn dragged down U.S. stock indices to their largest decline in a month [1][4] - The U.S. stock market saw significant declines, with the Dow Jones down 1.91%, Nasdaq down 1.41%, and S&P 500 down 1.62% [1][4] - Long-term U.S. Treasury bonds were heavily sold off, with the 20-year bond yield rising to 5.12%, the 30-year bond yield reaching 5.09%, and the 10-year bond yield hitting a near three-month high of 4.60% [1][4] Group 2 - The CME Bitcoin futures main contract rose by 1.07% to $109,000, but quickly reversed gains after the announcement of the U.S. Treasury's 20-year bond issuance results [3] - The VIX index, a measure of market volatility, increased by 15.42% to 20.88, indicating heightened market fear [7] - The Philadelphia Semiconductor Index fell by 0.14%, with notable declines in AMD and TSMC ADR [7] Group 3 - Notable declines in major tech stocks included Tesla down 2.68%, Apple down 2.31%, and Nvidia down 1.92%, while Google A saw an increase of 2.79% [4][5] - Chinese concept stocks experienced mixed results, with Baidu down 4.32% and Li Auto up 3.08% [8][9] Group 4 - XPeng Motors reported Q1 revenue of 15.81 billion yuan, a year-on-year increase of 141.5%, with expectations of doubling sales this year [10] - WeRide announced Q1 revenue of 72.44 million yuan, with a gross margin of 35.0%, and a significant increase in Robotaxi revenue [10] Group 5 - The offshore RMB against the U.S. dollar traded at 7.2041, showing a slight increase, while the U.S. dollar index fell by 0.42% to 99.60 [11] - Gold prices rose, with spot gold up 0.75% to $3,314.77 per ounce, and COMEX gold futures up 1.01% to $3,317.80 per ounce [12]

WeRide (WRD) Q1 2025 Earnings Call May 21, 2025 07:00 AM ET Company Participants Tony Han - Founder, Chairman & CEOJennifer Li - CFOLiping Zhao - Vice President Conference Call Participants Tim Hsiao - AnalystJoel Ying - AnalystYawen Tan - APAC Industrials Equity AnalystNone - AnalystLeo You - Equity Research Analyst Operator Good morning, and good evening, ladies and gentlemen. Thank you for standing by, and welcome to WeWrite's First Quarter twenty twenty five Earnings Conference Call. At this time, parti ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 increased by 1.8% to RMB 72.4 million, driven by growth in product revenue, partially offset by a slight decline in service revenue [17] - Robotaxis contribution to group revenue rose to 22.3%, up from 11.9% in the same period of 2024 [18] - Product revenue increased by 46.7% to RMB 9.5 million, primarily due to a substantial increase in sales of Robotaxi and RoboCapers [18] - Net loss decreased by 17.7% to RMB 385.1 million, while on a non-IFRS basis, net loss increased by 108.2% to RMB 294.6 million due to continuous investment in R&D [23][24] Business Line Data and Key Metrics Changes - Global taxi revenue reached RMB 16.1 million, continuing momentum from a record high in FY 2024 [18] - Revenue from ADAS R&D services declined by RMB 33.5 million due to the completion of a customized project in 2024, but was partially offset by an increase in intelligence data services and operational support services [20] Market Data and Key Metrics Changes - The company expanded its robotaxi services in major cities like Beijing and Guangzhou, launching routes that cover over 250 kilometers in densely populated urban areas [11] - The company is scaling operations in international markets, particularly in Europe and the Middle East, with plans to deploy robotaxi services in 15 additional cities globally [5][8] Company Strategy and Development Direction - The company aims to solidify its leading position in autonomous mobility by expanding its robotaxi presence and enhancing partnerships, particularly with Uber [5][30] - A phased approach to operational expansion is being adopted to ensure high service quality while meeting regulatory and safety standards [9][10] - The company is focused on building a sustainable business model through trusted partnerships and localized deployments [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's operational and technological excellence, particularly in light of the expanded partnership with Uber [6][30] - The company is optimistic about capturing opportunities in markets that are favorable to autonomous driving, citing increasing interest in AV technology [86] Other Important Information - The board authorized a share repurchase program of up to USD 100 million, reflecting confidence in the company's fundamentals and growth trajectory [24][108] - The company has a strong cash position with total capital reserves of RMB 6.2 billion, including RMB 4.4 billion in cash and equivalents [24] Q&A Session Summary Question: Why did WeRide and Uber decide to expand their partnership? - The expanded partnership builds on a proven model, combining WeRide's autonomous driving technology with Uber's operational expertise, aiming to deploy services across 15 major global cities within five years [30][31] Question: What regions will be the main focus for robotaxi rollout? - The focus is on markets in Europe and the Middle East, with a phased approach to adding cities, likely three new cities each year [35][36] Question: Can you share insights on robotaxi economics and cost structure? - Robotaxi economics significantly reduce driver costs, with expectations of 50% or more cost-effectiveness compared to traditional taxis in developed markets [44][46] Question: What is the company's view on competition from aggressive OEMs entering the robotaxi business? - The company welcomes competition and believes its proven technology and safety record provide a significant edge over competitors [66][71] Question: What are the plans for further fleet expansion and operation areas? - The company plans to gradually increase deployment in selected tier one cities in China and scale operations through global partnerships [75][78] Question: What is the company's view on regulations in different markets? - The company sees favorable regulations in several countries, particularly in the Middle East and Europe, and believes it is well-positioned to capture opportunities in these markets [80][82]

Market Overview - US stock index futures are all down, with Dow futures down 0.75%, S&P 500 futures down 0.50%, and Nasdaq futures down 0.51% [1] - European indices also show declines, with Germany's DAX down 0.10%, UK's FTSE 100 down 0.01%, France's CAC40 down 0.54%, and the Euro Stoxx 50 down 0.37% [2] - WTI crude oil is up 0.74% at $62.49 per barrel, while Brent crude is up 0.67% at $65.82 per barrel [2] Currency and Economic Sentiment - There is a rising expectation of US dollar depreciation, with the Bloomberg dollar index's one-year risk reversal indicator showing a negative 27 basis points, indicating the lowest level on record [3] - Morgan Stanley suggests buying US assets excluding the dollar, predicting a series of interest rate cuts by the Federal Reserve that could support the bond market and boost corporate earnings [3] Inflation and Tariff Impact - Federal Reserve officials warn that the impact of tariffs will soon be fully realized, potentially leading to a new wave of price increases in the US economy [4] - Atlanta Fed President Bostic indicates that many companies' buffer strategies against high tariffs are running out, which could weaken overall economic activity [4] Investor Sentiment and Market Dynamics - JPMorgan's CEO warns of "extreme complacency" among investors, suggesting that the market may soon face turbulence [5] - Goldman Sachs reports that clients are increasingly seeking to withdraw funds from the US market, questioning whether the US stock market's rally has reached its peak [6] Company Performance Highlights - Lowe's reported same-store sales down 1.7% but expects this key sales metric to remain flat or grow up to 1% for the year [7] - ZTO Express achieved a 19.1% year-on-year increase in package volume, with net profit up 40.9% [7] - Baidu's Q1 net profit increased by 41.65% year-on-year, reaching 77.17 billion yuan [8] - XPeng Motors reported a net loss of 660 million yuan, a 51.5% decrease year-on-year, with total revenue up 141.5% [8] - Weibo's Q1 net profit grew by 116.36% year-on-year, reaching $107 million [9] - Target's Q1 performance fell short of expectations, leading to a downward revision of sales forecasts [10] - Full Truck Alliance reported a 19% year-on-year increase in revenue, with significant growth in operational metrics [11] - iQIYI's Q1 revenue reached 71.9 billion yuan, with a 9% quarter-on-quarter increase [12] - Xinyi Technology reported a Q1 revenue of 34.81 billion yuan, with a net profit of 7.38 billion yuan [12] - Tuya Smart's Q1 revenue grew by approximately 21.1%, exceeding expectations [12]

2025年第一季度毛利率为35%，与2024年第四季度的毛利率相比相对稳定。 作为迄今为止同类合作中规模最大的合作之一，文远知行与优步携手，继阿布扎比和即将进军迪拜之 后，将商业化自动驾驶出租车服务拓展至另外15个城市。优步承诺在现有投资的基础上，再向文远知行 注资1亿美元。 截至2025年3月31日，公司拥有现金及现金等价物及定期存款44.285亿元、以公允价值计量且其变动计 入损益的金融资产17.477亿元以及受限现金1470万元。 周三美股盘起，文远知行(WRD.US)公布截至2025年3月31日的三个月的未经审计财务业绩。财报显 示，文远知行一季度营收7240万元(单位：人民币，下同)，同比增长1.8%；摊薄后每股亏损为0.46元， 上年同期亏损为3.95元。 文远知行一季度净亏损为3.851亿元(5310万美元)，而2024年同期为4.681亿元；每股ADS净亏损为1.38元 (0.18美元)，而2024年同期亏损为11.85元。 2025年第一季度，文远知行的车队规模已增至1200多辆，累计公共运营时间超过2000天。 自动驾驶出租车业务收入为1610万元，占公司2025年第一季度总收入的22.3 ...

Core Viewpoint - WeRide (文远知行) is accelerating its global commercialization of autonomous driving services, particularly through its partnership with Uber, which includes a significant investment and expansion into new international markets [5][6][8]. Financial Performance - In Q1 2025, WeRide reported a revenue of 72.44 million yuan, with a gross margin of 35.0%. The Robotaxi segment generated 16.10 million yuan, accounting for 22.3% of total revenue, reflecting a year-on-year increase of 10.4 percentage points [5][6]. Strategic Partnerships - WeRide has secured a major investment from Uber, committing an additional $100 million in equity investment, which underscores Uber's confidence in WeRide's technological capabilities and scalability [5][6]. - A strategic cooperation agreement was signed with Tencent Cloud to enhance Robotaxi commercialization and smart driving technology development [17]. Global Expansion - WeRide plans to expand its Robotaxi services to 15 new international cities over the next five years, marking one of the largest collaborations in the industry [8]. - The company has received the first national-level autonomous driving license in the UAE, allowing it to operate autonomous vehicles across the country [10]. Domestic Developments - WeRide has launched eight autonomous driving service routes in Guangzhou, establishing a 24-hour Robotaxi service network in a major Chinese city [12]. - The new generation Robotaxi "GXR" has been approved for commercial operation in Beijing, with plans to scale up operations significantly by 2025 [12]. Technological Advancements - WeRide has obtained multiple L4 autonomous driving licenses across several countries, including China, UAE, Singapore, France, and the USA, making it a leader in the autonomous driving sector [16]. - The company is also advancing its L2-level assisted driving solutions through partnerships with technology firms like BlackBerry [17]. Market Position - WeRide's CEO emphasized the company's vision of becoming a leader in the autonomous driving industry, with over 1,200 autonomous vehicles currently in operation [6].

Core Insights - WeRide reported a strong performance in Q1 2025 with total revenue of 72.44 million yuan, reflecting steady growth and a leading gross margin of 35.0% in the industry [1][5] - The company's Robotaxi revenue reached 16.10 million yuan, accounting for 22.3% of total revenue, marking a significant year-on-year increase of 10.4 percentage points [1][5] - WeRide has deepened its strategic partnership with Uber, resulting in a historic Robotaxi collaboration plan and an additional $100 million equity investment from Uber [1][5] Financial Performance - Total revenue for Q1 2025 was 72.44 million yuan, showing a steady increase [5] - The gross margin for the quarter was 35.0%, leading the industry [5] - Robotaxi revenue was 16.10 million yuan, contributing 22.3% to total revenue, with a year-on-year increase of 10.4 percentage points [5] - The company has a strong cash reserve of approximately 900 million yuan [5] - The board has authorized a share buyback of up to $100 million equivalent over the next 12 months, indicating confidence in future growth [5] Commercialization Progress - WeRide achieved significant breakthroughs in its Robotaxi business, partnering with Uber for the largest Robotaxi collaboration in history, planning to expand to 15 new cities over the next five years [4][5] - The company launched 8 Robotaxi operational routes in Guangzhou, connecting key landmarks and transportation hubs [7] - WeRide initiated the first pure unmanned Robotaxi testing in Abu Dhabi, establishing the first unmanned Robotaxi fleet in the Middle East [9] - Plans to launch Robotaxi services in Dubai have been announced, marking the second city in Europe for this collaboration [11] Strategic Collaborations - WeRide upgraded its strategic partnership with Tencent Cloud, integrating Robotaxi services with WeChat and Tencent Maps for enhanced operational efficiency [23] - The company partnered with BlackBerry to develop a highly secure L2-level assisted driving solution, integrating advanced technology for automotive safety [25] Leadership Insights - The CEO emphasized the company's vision of becoming a leader in the autonomous driving industry across Asia, the Middle East, and Europe, highlighting the commercial viability of large-scale Robotaxi deployment [27] - The CFO noted the strong momentum at the beginning of 2025, with Uber's investment reflecting confidence in WeRide's technological capabilities and growth potential [27]

WeRide Announces Plan to Expand Commercial Robotaxi Services to 15 Additional Cities Globally WeRide Announces Unaudited Financial Results for Q1 2025 NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) -- WeRide Inc. ("WeRide" or the "Company") (Nasdaq: WRD), a global leader in autonomous driving technology, today announced its unaudited financial results for the three months ended March 31, 2025. Recent Highlights Continuous Robotaxi Expansion through Global Strategic Alliances EXHIBIT 99.1 Expanded global partnershi ...

Core Viewpoint - WeRide Inc. has authorized a share repurchase program to buy back up to US$100 million of its Class A ordinary shares over the next 12 months, reflecting confidence in its business fundamentals and long-term outlook [1][2]. Company Overview - WeRide is a global leader in the autonomous driving industry and the first publicly traded robotaxi company, with operations in over 30 cities across 10 countries [3]. - The company offers a versatile and adaptable autonomous driving platform, WeRide One, which addresses various transportation needs across mobility, logistics, and sanitation [3]. - WeRide was recognized in Fortune Magazine's 2024 "The Future 50" list, highlighting its innovative position in the industry [3]. Share Repurchase Program - The share repurchase program is intended to be executed in the open market at prevailing prices, through privately negotiated transactions, block trades, or other legally permissible means, depending on market conditions [2]. - The program will be funded from the company's existing cash balance, demonstrating a commitment to returning capital to shareholders while investing in growth [2].