WeRide Inc.(US:WRD) Sou Hu Cai Jing·2025-10-15 11:24Core Viewpoint - The two leading companies in the Robotaxi industry, Pony AI Inc. and WeRide Inc., are simultaneously advancing their listing processes in Hong Kong after previously going public on NASDAQ, with Pony AI's market value being over twice that of WeRide [1][3][5] Group 1: Company Listings - Both WeRide and Pony AI have received approval from the China Securities Regulatory Commission for their overseas listing applications, marking the start of their Hong Kong listing processes [3] - WeRide plans to issue up to 102.4 million ordinary shares, while Pony AI intends to issue up to 102.1 million ordinary shares, both targeting the main board of the Hong Kong Stock Exchange [3] Group 2: Business Expansion - WeRide has obtained autonomous driving licenses in seven countries, covering over 30 cities across 11 countries, and has launched a driverless ride-hailing service in Shanghai [3] - Pony AI is expanding its Robotaxi fleet in major Chinese cities and has received road testing permits in Dubai, with plans for full driverless commercialization in Dubai by 2026 [4] Group 3: Financial Performance - In Q2 2025, WeRide reported revenue of 127 million yuan, a year-on-year increase of 60.8%, but a net loss of 301 million yuan, which widened by 72.2% [4] - Pony AI's Q2 revenue reached 154 million yuan, a 75.9% year-on-year increase, with a net loss of 380 million yuan [4] - Both companies are experiencing rapid revenue growth alongside ongoing losses, typical of the industry [4] Group 4: Market Valuation - As of October 15, Pony AI's market value is approximately 7.427 billion USD, while WeRide's is around 3.322 billion USD, indicating Pony AI's significant lead in market capitalization [5] - Both companies have been included in the NASDAQ China Golden Dragon Index, reflecting market recognition of their technological value and growth potential [5] Group 5: Future Outlook - The listing processes for both companies are expected to raise funds for technology development and global expansion, providing a reference for the capitalization path of China's autonomous driving industry [5]