“港股Robotaxi第一股”之争

Core Viewpoint - The Chinese capital market is poised for a significant moment in the Robotaxi industry, with Pony.AI and WeRide successfully completing their IPO filings in Hong Kong on October 14 [1] Group 1: IPO Details - Pony.AI and WeRide plan to issue 102.1 million and 102.4 million new shares, respectively, on the Hong Kong Stock Exchange [2] - Both companies have previously completed listings on the NASDAQ, with WeRide listing first in October 2024, followed by Pony.AI in November 2024 [2] Group 2: Operational Insights - Pony.AI operates a fleet of over 680 self-driving taxis, accumulating over 47.9 million kilometers of autonomous driving, with 26.6 million kilometers dedicated to public autonomous ride-hailing services [3] - WeRide operates over 700 self-driving taxis, with a total deployment exceeding 1,500 vehicles, including 1,108 owned vehicles and 415 from customers and partners [3][4] Group 3: Strategic Focus - Pony.AI focuses on domestic markets, holding all necessary regulatory permits to operate autonomous ride-hailing services in all four first-tier cities in China [5] - WeRide has a more international approach, with operations in 11 countries and over 30 cities, holding autonomous driving licenses in seven countries [5] Group 4: Revenue Growth - WeRide's revenue from Robotaxi and related services increased from $667.7 million in 2024 to $865.9 million in the first half of the current year, with a revenue share rising from 13.2% to 31% [6] - In contrast, Pony.AI's Robotaxi-related revenue was $726.6 million in 2024, with a slight decline in revenue share from 9.4% to 9.2% in the first half of the current year [7] Group 5: Business Collaborations - Pony.AI has partnered with major logistics companies like China National Foreign Trade Transportation Group to enhance its revenue in the autonomous freight sector [8] - WeRide has established strategic collaborations in the Middle East, including partnerships with the Abu Dhabi Investment Office and Saudi Arabia's Public Investment Fund, to expand its market presence [8] Group 6: Regulatory Environment - The regulatory landscape for Robotaxi operations in China is evolving, with a focus on gradual and orderly approval processes, which is expected to facilitate large-scale commercialization [9] - Industry experts suggest that while the Robotaxi business is still in its early stages, there is significant potential for profitability in the coming years, contingent on overcoming technological challenges and achieving scalable operations [9]