Core Viewpoint - The company, WeRide, is planning a global offering of 88.25 million shares, with a maximum public offering price of HKD 35.0 per share, aiming to raise approximately HKD 2.9321 billion for various strategic initiatives in the autonomous driving sector [1][4]. Group 1: Company Overview - WeRide is a global pioneer in Level 4 (L4) autonomous driving, with its products and solutions deployed in over 30 cities across 11 countries, including China, UAE, Saudi Arabia, Switzerland, France, Singapore, and Japan [1][2]. - The company has established itself as one of the first service providers to achieve large-scale commercial operations in both China and the Middle East [1]. Group 2: Market Position and Strategy - According to Zhaoshang Consulting, WeRide ranks second globally in revenue generated from L4 and above autonomous driving on urban roads, holding a market share of 21.8% as of 2024 [1]. - The company has deployed a fleet of over 1,500 autonomous vehicles, including 1,108 self-owned vehicles and 415 vehicles in collaboration with third parties, with a focus on markets showing significant long-term potential for autonomous driving [2]. Group 3: Competitive Advantage - WeRide has established a leading international presence and significant first-mover advantages in key overseas markets, being the only company to successfully deploy L4 autonomous driving solutions in France, Switzerland, and Belgium [3]. - In Singapore, WeRide is the only company with both autonomous taxi and shuttle deployments, leading the next market entrant by at least 1.5 years in L4 development [3]. Group 4: Use of Proceeds - The estimated net proceeds of approximately HKD 2.9321 billion from the global offering will be allocated as follows: 40% for developing the autonomous driving technology stack, 40% for accelerating the commercialization of the L4 fleet, 10% for establishing marketing teams and branches, and 10% for working capital and general corporate purposes [4].