Core Viewpoint - WeRide has been officially included in the Nasdaq Golden Dragon China Index, becoming the second autonomous driving company to join after Pony.ai, which signifies a recognition of its market position and potential for attracting institutional investors [2][4]. Group 1: Nasdaq Golden Dragon China Index Inclusion - The Nasdaq Golden Dragon China Index consists of Chinese companies listed in the U.S. and is seen as a barometer for investment in Chinese stocks, with 83 constituent stocks after the latest adjustment [4]. - Inclusion in the index allows WeRide to enter the passive fund allocation pool, potentially attracting more institutional investors and providing strong credit support for its global business expansion [4][7]. - The index's recent rise reflects optimistic sentiment in the global capital market regarding the fundamentals and valuation recovery of Chinese companies, positioning WeRide to benefit from this overall value reassessment [7]. Group 2: Autonomous Driving Developments - WeRide's autonomous shuttle, Robobus, has received Belgium's first federal-level L4 autonomous driving test license, making it the only tech company globally with products licensed for autonomous driving in seven countries [4][6]. - The test route in Belgium will span 8 kilometers with 9 stops, and initial tests will include a safety driver, with commercial operations expected to begin between mid-November 2025 and the end of January 2026 [6]. - This achievement is seen as a critical step towards achieving safe and reliable L4 level fully autonomous operations, showcasing WeRide's technological capabilities in real-world scenarios [6].

Core Viewpoint - Company Wenyan Zhixing (Nasdaq: WRD) has been officially included in the Nasdaq Golden Dragon China Index, which is expected to attract more investor attention and provide stronger capital support for its global business expansion, further solidifying its leading position in the autonomous driving sector [1] Group 1: Nasdaq Golden Dragon China Index Inclusion - The inclusion in the Nasdaq Golden Dragon China Index is anticipated to have multiple positive impacts for the company, including automatic stock allocation from passive investment funds, providing long-term support [1] - The index primarily attracts institutional investors, which is expected to increase the company's visibility among institutional investors and enhance market activity [1] - The inclusion is expected to improve the company's brand image among global investors, potential customers, and partners, providing strong credibility for international business expansion [1] Group 2: Global Expansion and Financial Performance - Wenyan Zhixing officially listed on the Nasdaq on October 25, 2024, becoming the "world's first Robotaxi stock" and operates in over 30 cities across 11 countries with more than 2,200 operational days [2] - The company announced a partnership with Southeast Asian super app Grab to launch its first consumer-facing autonomous driving service in Singapore on the same day it was included in the index [2] - Wenyan Zhixing's Robobus received the first L4 autonomous driving license in Belgium, making it the only tech company with autonomous driving licenses in seven countries, including Belgium, China, France, UAE, Saudi Arabia, Singapore, and the USA [2] - The company reported strong growth from its global expansion, achieving revenue of 127 million yuan in Q2 2025, a year-on-year increase of 60.8%, with Robotaxi business revenue reaching 45.9 million yuan, a significant year-on-year increase of 836.7% [2] Group 3: Product Development and Strategic Partnerships - Wenyan Zhixing is focused on developing safe and reliable autonomous driving technology, forming a product matrix that includes autonomous taxis, minibuses, freight vehicles, sanitation vehicles, and advanced intelligent driving [3] - The company employs a diversified commercialization strategy of "1 platform + 3 major scenarios + 5 major products," and has established strategic partnerships with top global manufacturers and suppliers, including Renault-Nissan-Mitsubishi Alliance, Yutong Group, Bosch, and GAC Group [3]

Core Viewpoint - WeRide has been officially included in the Nasdaq Golden Dragon China Index, which is expected to bring multiple positive impacts for the company, enhancing its visibility and capital support for global business expansion [2][3]. Group 1: Positive Impacts of Inclusion in Nasdaq Golden Dragon China Index - The inclusion will lead to automatic stock allocation by passive investment funds tracking the index, providing long-term support for WeRide [3]. - The index primarily attracts institutional investors, which is expected to increase attention from more institutional investors and enhance market activity for WeRide [3]. - The inclusion will improve WeRide's brand image among global investors, potential customers, and partners, providing strong credibility for international business expansion [3]. Group 2: Market Context and Trends - The Nasdaq Golden Dragon China Index has shown an upward trend over the past six months, reaching its highest level since February 2022, reflecting optimistic sentiment in the global capital market towards the fundamentals and valuation recovery of Chinese companies [4]. - Given the overall positive sentiment towards Chinese concept stocks and the strong cycle of the index, WeRide's inclusion is seen as a favorable opportunity for benefiting from the overall value reassessment of Chinese companies [4]. Group 3: Recent Business Developments - WeRide has been actively advancing its business, announcing a partnership with Grab to launch the first consumer-facing autonomous driving service in Singapore on September 22 [6]. - On September 19, WeRide's Robobus received the first Level 4 autonomous driving license in Belgium, making it the only tech company with autonomous driving licenses in seven countries, including Belgium, China, France, UAE, Saudi Arabia, Singapore, and the USA [6]. - On July 23, WeRide officially launched the first Robotaxi trial operation service in Riyadh, Saudi Arabia, marking the third market for its collaboration with Uber, with plans to expand to 15 cities over the next five years [6]. Group 4: Financial Performance - WeRide reported a revenue of 127 million yuan for the second quarter of 2025, representing a year-on-year growth of 60.8%, with the Robotaxi business revenue reaching 45.9 million yuan, a significant year-on-year increase of 836.7% [7].

Group 1 - HHLR Advisors reported a total market value increase from $2.887 billion to $3.539 billion, a nearly 23% rise in Q1 2025 [1] - HHLR's top ten holdings include Pinduoduo, Alibaba, Futu Holdings, BeiGene, NetEase, Beike, Legend Biotech, JD.com, Vipshop, and WNS Holdings, with 9 out of 10 being Chinese concept stocks [1][2] - HHLR made new investments in 10 companies including Atour Group, Huazhu Group, Baidu, and Li Auto, with significant increases in holdings for Yum China, Li Auto, and Baidu [2] Group 2 - Jinglin Asset Management's Hong Kong subsidiary reported a total market value of $3.228 billion, showing an increase from the previous year [3] - Jinglin's new investments include Alibaba and Hesai Technology, while it increased holdings in Meta, Beike, TSMC, and New Oriental, and reduced positions in Google, Microsoft, and Nvidia [3] - The market value increase for both HHLR and Jinglin is attributed to the revaluation of Chinese concept stocks, with the Nasdaq Golden Dragon China Index rising by 13.33% in Q1 2025 [4] Group 3 - The rapid development of AI models like DeepSeek is reshaping the valuation of Chinese tech companies, moving away from traditional pricing models that undervalued growth potential [5] - The shift in valuation logic is driven by the transition of Chinese AI companies from relying on foreign platforms to establishing their own technological capabilities [5]

Core Viewpoint - The article discusses the recent quarterly holdings of major investment firms, highlighting significant investments in Chinese stocks and the impact of the revaluation of Chinese tech stocks on their portfolios [2][8]. Group 1: HHLR Advisors Holdings - HHLR Advisors reported a total holding value increase from $2.887 billion to $3.539 billion, a nearly 23% rise in Q1 2025 [2]. - The top ten holdings of HHLR include Pinduoduo, Alibaba, Futu Holdings, BeiGene, NetEase, Beike, Legend Biotech, JD.com, Vipshop, and WNS Holdings, with nine of these being Chinese stocks [2]. - HHLR made new investments in ten companies, including Atour Group, Huazhu Group, Baidu, Yuchai International, and Li Auto, with significant increases in holdings for Yum China, Li Auto, and Baidu [4]. Group 2: Performance of New Investments - New investments by HHLR in Yuchai International saw an 80% increase, while BOSS Zhipin and Li Auto rose by 34% and 20%, respectively, as of May 14 [4]. - HHLR increased its holdings in eight companies, including Futu Holdings and Pinduoduo, with Futu Holdings experiencing a 40% rise and Pinduoduo a 23% rise [4]. - HHLR reduced its positions in Alibaba and BeiGene, with Alibaba's stock rising by 56% and BeiGene by 47% during the same period [4]. Group 3: Jinglin Asset Management Holdings - Jinglin Asset Management reported a total holding value of $3.228 billion as of Q1 2025, showing an increase from the previous year [6]. - New investments included Alibaba and Hesai Technology, while they increased holdings in Meta, Beike, TSMC, and New Oriental, and reduced positions in Google, Microsoft, and others [6]. - The top ten holdings of Jinglin include Meta, Pinduoduo, NetEase, and others, with a total holding value of $2.784 billion, representing 86.24% of their total U.S. stock holdings [6]. Group 4: Market Trends and Revaluation - The increase in holdings for HHLR and Jinglin is attributed to the revaluation of Chinese tech stocks, with the Nasdaq Golden Dragon China Index rising by 13.33% in Q1 2025 [8]. - The rapid development of AI models like DeepSeek is reshaping market perceptions of Chinese tech companies, moving away from traditional valuation methods [8]. - The shift in valuation logic is driven by the emergence of independent technological capabilities in Chinese AI firms, leading to a reassessment of their long-term growth potential [9].