Core Viewpoint - The proactive management of holdings by leading investors signals the scarcity of quality targets in the secondary market [2] Group 1: Shareholder Actions - Pre-IPO investors of Pony.ai will have their shares unlocked on May 26, with key shareholders, including Toyota and several international funds, indicating they are not in a hurry to sell [3] - Founders of Pony.ai have voluntarily extended their share lock-up period by 540 days, covering approximately 22.9% of the total issued shares, which reflects their confidence in the company's long-term value [5][6] - The combined holdings of shareholders who have expressed no plans to sell, including the founders, exceed 70% of the company's total equity, creating a significant confidence-boosting effect [5] Group 2: Investor Confidence - Early investor Wuyuan Capital reaffirmed its commitment to Pony.ai, citing confidence in the company's strategic capabilities and operational efficiency [7] - Kaiming Capital highlighted Pony.ai's unique advantages in converting policy opportunities into commercial value, with significant operational achievements in major cities [7] - Investors believe that the current phase is critical for autonomous driving companies transitioning from R&D to scale profitability, with Pony.ai's seventh-generation Robotaxi system showing a 70% cost reduction compared to previous generations [7] Group 3: Financial Performance - Pony.ai reported Q1 total revenue of 102 million yuan (approximately 13.98 million USD), a 12% year-on-year increase, with Robotaxi revenue growing over 200% [9] - The rapid expansion of commercial operations in major cities has led to an 800% increase in passenger fare revenue, with a 20% increase in registered users of the Pony.ai app [9] Group 4: Technological Advancements - Pony.ai launched its seventh-generation autonomous driving system, designed for L4 level production, featuring a significant cost reduction of 70% for production materials [12] - The seventh-generation system will also be utilized in Pony.ai's autonomous trucks, with plans to scale the Robotaxi fleet to 1,000 units by the end of the year [12] Group 5: Market Outlook - Following the Q1 earnings report, several leading international investment banks raised their target prices for Pony.ai, reflecting optimism about the company's future business prospects [12]