在过去的八年时间里，港股创新药企云顶新耀（01952.HK）通过授权引进（license-in）引入创新资 产，建立了坚实的基础，并依靠"双轮"驱动战略，聚焦蓝海领域，打造卓越商业化平台并完善研发和生 产能力。同时，以科学及商业洞察为战略出发点，加速推进自研mRNA In vivo CAR-T平台及mRNA肿 瘤疫苗平台的临床开发进程。 在立足现有基础上，如何将公司的差异化优势进一步发挥出来，打造中国创新药企发展样本？ 近日，云顶新耀的2030年发展战略正式发布，系统规划了公司未来五年的发展路径，该战略以"BD合作 +自主研发"双轮驱动为核心，明确2030年营收突破150亿元、商业化产品超20款的目标，最终冲刺千亿 市值，跻身全球领先综合性生物制药公司行列。 拟大手笔引入 按照云顶新耀的2030年发展战略规划，在产品管线方面，公司将聚焦肾科、自身免疫、急重症、心血管 及眼科等核心方向。通过引进创新资产与自主研发并行推进，到2030年形成高价值产品组合，并拓展其 他蓝海领域的大单品。到2030年，公司计划将商业化产品数量提升至20款以上，包括耐赋康®、艾曲莫 德、依嘉®、头孢吡肟-他尼硼巴坦及莱达西贝普等。 云 ...

Core Insights - WeRide, known as the "first Robotaxi stock globally," successfully completed its dual listing on the Hong Kong Stock Exchange, filling a gap in the market for Robotaxi stocks in Hong Kong [1][4] - The company reported strong financial results for Q3 2025, with revenue reaching 171 million yuan, a year-on-year increase of 144.3%, and a significant growth in Robotaxi business revenue [3][5] - The company has established a robust presence in the autonomous driving market, with over 1,600 autonomous vehicles globally, including nearly 750 Robotaxis [3][8] Financial Performance - Q3 2025 revenue was 171 million yuan, marking a 144.3% increase year-on-year, the largest quarterly growth since the company's inception [3] - Robotaxi business revenue reached 35.3 million yuan, a staggering 761.0% increase year-on-year [3] - Gross profit was 56.3 million yuan, up 1,123.9% year-on-year, with a gross margin of 32.9%, an increase of 26.4 percentage points year-on-year [3] Market Position and Strategy - WeRide has secured a unique position as the only technology company with autonomous driving licenses in eight countries, showcasing significant first-mover advantages [8][14] - The company has established partnerships with major players like Uber and Grab, enhancing its market reach and operational capabilities [15] - WeRide's strategic focus on commercializing its autonomous driving technology across various applications, including Robotaxi, Robobus, and Robovan, demonstrates its commitment to diversifying revenue streams [5][17] Technological Advancements - The WeRide One autonomous driving platform and WeRide GENESIS simulation engine create high barriers to entry, ensuring reliability and safety in autonomous driving systems [6][9] - The company has maintained a leading position in safety and reliability, with over 55 million kilometers of public road testing and no regulatory penalties due to system failures [11] Global Expansion - WeRide has expanded its operations to 30 cities across 11 countries, transitioning from pilot operations to large-scale deployment [8][17] - The company has recently received approval for fully autonomous Robotaxi operations in Abu Dhabi, marking a significant milestone in its global expansion strategy [15] - The Robotaxi service is set to launch in Singapore, further solidifying WeRide's presence in key international markets [12][14] Future Outlook - The global Robotaxi service market is projected to reach $66.6 billion by 2030, with a compound annual growth rate of 196% from 2025 to 2030, positioning WeRide to benefit from significant market growth [16] - The company is expected to demonstrate the feasibility and scalability of its autonomous driving business model, paving the way for future financial performance improvements [17][18]