Jin Tou Wang·2026-02-12 07:33Core Viewpoint - Macquarie has initiated coverage on WeRide (WRD.US, 0800.HK) with an "Outperform" rating, setting target prices of HKD 46 for its Hong Kong stock and USD 17.5 for its U.S. stock, recognizing the company's core competitiveness and growth potential in the global autonomous driving sector [1] Group 1 - WeRide's core advantages lie in its diversified L4 autonomous driving product matrix and strong strategic partnerships, positioning it favorably in building a scalable and global autonomous driving service network [1] - The company is the only tech firm globally to hold autonomous driving licenses in eight countries, including China, UAE, and Singapore, and has developed a comprehensive product matrix that includes autonomous taxis, minibuses, freight vehicles, sanitation vehicles, and L2 driver assistance systems [1] - WeRide's global layout is supported by its extensive application scenarios in smart mobility, smart freight, and smart sanitation, establishing a solid foundation for its international expansion [1] Group 2 - WeRide's recent overseas expansion efforts have gained momentum, with a partnership with Uber announced on February 6 to deploy at least 1,200 Robotaxis in the Middle East by 2027, covering key markets such as Abu Dhabi, Dubai, and Riyadh [2] - WeRide has a four-year first-mover advantage in Abu Dhabi, where its Robotaxi fleet is nearing single-vehicle breakeven and has initiated fully autonomous commercial operations, becoming a benchmark in the Middle East's autonomous driving sector [2] Group 3 - As of January 12, 2026, WeRide's global Robotaxi fleet has reached 1,023 vehicles, operating in over ten major cities worldwide, with successful fully autonomous commercial operations launched in Guangzhou, Beijing, and Abu Dhabi [5] - WeRide is the first autonomous driving tech company to be dual-listed on both U.S. and Hong Kong stock exchanges, gradually realizing its commercial value through proprietary technology, diverse product offerings, and global expansion, gaining significant attention and recognition from the capital markets [5]