两家无人驾驶出租车龙头，齐奔港股！

Core Viewpoint - Two leading domestic Robotaxi companies, Pony.ai and WeRide, have filed for an IPO on the Hong Kong Stock Exchange, aiming to raise funds to enhance their commercial operations in a competitive market [1] Group 1: IPO Details - Pony.ai plans to issue 41.95 million new shares at a maximum price of 180 HKD per share, expecting to raise a net amount of 7.19 billion HKD [1][2] - WeRide intends to issue 88.25 million new shares at a maximum price of 35 HKD per share, anticipating a net fundraising of 2.93 billion HKD [1][2] - Both companies will start public offerings on October 28, with pricing announcements on November 4 and expected trading to commence on November 6 [2] Group 2: Financial Performance - As of June 30, Pony.ai reported revenue of 35.43 million USD, while WeRide reported revenue of 27.91 million USD [2] - Both companies are currently operating at a loss [2] Group 3: Fund Utilization - Pony.ai plans to allocate approximately 3.57 billion HKD for market expansion and large-scale commercialization of L4 autonomous driving, 2.88 billion HKD for R&D of L4 technology, and 719 million HKD for operational funding [3][4] - WeRide will use 1.17 billion HKD for developing its autonomous driving technology stack, another 1.17 billion HKD for accelerating the commercialization of L4 fleets, and 290 million HKD for establishing marketing teams and operational funding [3][4] Group 4: Fleet and Market Presence - WeRide operates in 11 countries and over 30 cities, holding the largest L4 autonomous fleet globally with over 1,500 vehicles, including more than 700 Robotaxis [4] - Pony.ai operates a fleet of over 720 self-owned autonomous taxis and emphasizes its regulatory compliance in major Chinese cities [4] Group 5: Investor Interest - Pony.ai has secured cornerstone investors, including Eastspring, raising a total of approximately 120 million USD [5][6] - WeRide has not attracted cornerstone investors [5] Group 6: Industry Insights - Analysts suggest that the key challenges for Robotaxi operations are not technological but rather the return on investment (ROI) considerations [6] - The competitive landscape will be determined by technological advantages and the ability to integrate ecosystems effectively [6]