文远知行创始人兼CEO韩旭 "'十五五'规划建议就像为中国科技产业腾飞绘制的精准导航图，其中新质生产力、新型举国体制、新安全格局、中国式 现代化这四个关键词，不仅精准指向文远知行深耕的领域，更让我们看到了自动驾驶行业从技术领先迈向商业成功的关 键窗口期。"文远知行创始人兼CEO韩旭在接受中国经济网记者专访时，充满对未来五年行业发展的期待与信心。 韩旭认为，自动驾驶的发展也将融入"中国式现代化"的伟大征程。"中国庞大的出行和物流需求，复杂的混合交通场景， 是培育世界级自动驾驶技术的绝佳'试验田'。规划建议中所强调的新型城镇化、乡村振兴、交通强国等内容，蕴含着城 市公交、微循环、末端配送、城际货运等丰富落地场景，而自动驾驶技术的普惠化、绿色化应用，也将为中国式现代化 注入强劲动力。" 锚定这四大关键词，文远知行已明确了"十五五"时期的发展路径：持续高强度研发投入，巩固L4全栈技术领先优势；深 度融入国家战略协同，参与关键核心技术攻关联盟；打造全方位安全护城河，将各类安全置于最高优先级；聚焦规模化 商业落地，加速多场景应用拓展。"我们有信心在'十五五'时期，成为全球自动驾驶商业化落地与价值创造的标杆企 业。"韩旭表 ...

Core Insights - Company Wenyan Zhixing (0800.HK) officially listed on the Hong Kong Stock Exchange on November 6, 2025, with an issue price of HKD 27.1 per share, raising a total of HKD 2.39 billion through the global offering [1] - The company has established a dual primary listing structure in both the US and Hong Kong, becoming the first in the autonomous driving industry to achieve a dual financing platform layout [3] Group 1: IPO and Capital Structure - The IPO saw international placements oversubscribed by 9.85 times and the Hong Kong public offering oversubscribed by 73.44 times, indicating strong market demand [4] - The dual primary listing requires compliance with regulations from both exchanges, increasing compliance costs but significantly enhancing risk resilience, allowing for continuous financing support even if one market experiences volatility [4] - The company has received backing from industry giants such as Uber, Grab, and Bosch, as well as sovereign funds from Asia and the Middle East, creating a deep binding model of "capital + industry" [4] Group 2: Use of Proceeds - The funds raised will be allocated as follows: 40% for the development of autonomous driving technology stack, 40% for the commercial production and operation of L4-level fleets, and the remaining 20% for market expansion and working capital [4] Group 3: Business Strategy and Global Presence - The core competitiveness of the company lies in its strategy of "universal technology platform + multi-scenario implementation + global layout," with a product matrix covering five categories: Robotaxi, Robobus, Robosweeper, Robovan, and ADAS [5] - The company has obtained autonomous driving licenses in seven countries, including China, the US, UAE, and Singapore, covering over 30 cities across 11 countries, making it one of the most well-licensed companies in the global autonomous driving sector [7] - The company operates a fleet of over 1,500 L4-level autonomous vehicles, including more than 700 Robotaxis, with plans to deploy tens of thousands of Robotaxis by 2030 [7] - The company has achieved a breakthrough in cost control, reducing the cost of its GXR autonomous driving suite by 50% through the integration of NVIDIA's latest HPC 3.0 computing platform [7]

来源：市场资讯 （来源：野马财经） 成立至今已亏94亿。 作者｜虞灝 01 编辑｜刘钦文 试想一下，当你用手机叫车时，前来迎接你的是一辆没有驾驶员的汽车，它能安全、平稳地将你送达目 的地。还有凌晨四点的街道，穿梭于城市道路间进行清扫的，不再是辛劳的环卫工，而是一支支自动规 划路线、默默工作的无人驾驶车队。 这并非遥远的科幻设想，而是一家名为文远知行（WeRide Inc.）的公司正在全球超过30个城市奋力实现 的目标。这家自动驾驶领域的独角兽，不仅在广州、阿布扎比等城市部署了可以手机下单的Robotaxi （自动驾驶出租车），还将触角伸向了我们日常生活的更多角落——从解决"最后一公里"通勤的自动驾 驶小巴，到与快递巨头合作的自动驾驶货运车，甚至是不知疲倦地自动驾驶环卫车。 这家于2024年10月刚刚登陆美国纳斯达克的公司，正在寻求寻求"双重主要上市"。据港交所10月19日披 露，文远知行已正式通过港交所上市聆讯，有望成为港股"Robotaxi第一股"。 观察文远知行的财务数据不难看出，一方面其核心的Robotaxi业务收入在最新季度同比暴增超过800%， 商业化前景向好；但另一方面，公司自成立以来累计亏损高达 ...

Core Insights - The article highlights the recent developments in the autonomous driving sector, particularly focusing on the dual listings of WeRide Inc. and Pony AI Inc. in Hong Kong, as well as the significant growth in revenue for WeRide Inc. and Pony AI Inc. [1][4] Company Developments - WeRide Inc. plans to issue up to 102,428,200 shares for its listing on the Hong Kong Stock Exchange, as approved by the China Securities Regulatory Commission [1] - Pony AI Inc. intends to issue up to 102,146,500 shares for its listing on the Hong Kong Stock Exchange, also receiving approval from the China Securities Regulatory Commission [1] - WeRide Inc. reported a revenue of 127 million yuan (approximately 17.5 million USD) for Q2 2025, marking a year-on-year increase of 60.8% [3] - Pony AI Inc. achieved a total revenue of 154 million yuan (approximately 21.5 million USD) in Q2 2025, reflecting a year-on-year growth of 75.9% [4][5] Business Performance - WeRide Inc.'s autonomous taxi business revenue reached 45.9 million yuan (approximately 6.3 million USD) in Q2 2025, showing a substantial year-on-year increase of 836.7% [3] - The share of autonomous taxi business revenue in WeRide's total revenue rose to 36.1%, the highest since 2021 [3] - Pony AI Inc. reported that its Robotaxi business revenue reached 10.9 million yuan (approximately 1.5 million USD) in Q2 2025, with a year-on-year growth of 157.8% [5] Global Expansion - WeRide Inc. has expanded its operations to 11 countries and over 30 cities, holding autonomous driving licenses in seven countries [2] - Pony AI Inc. has initiated Robotaxi services in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen, covering over 2,000 square kilometers [4] - Both companies are actively pursuing international collaborations, with WeRide partnering with Grab in Southeast Asia and Pony AI collaborating with transportation companies in Qatar and Singapore [2][5] Industry Trends - The global autonomous driving market is projected to grow from approximately 158.3 billion USD in 2023 to 273.8 billion USD by 2025, reflecting a year-on-year growth of 29.97% [7] - The article emphasizes the increasing commercialization of autonomous driving services, with companies like WeRide and Pony AI leading the charge in urban areas [6]

Core Insights - The dual listing of Hesai Technology on both US and Hong Kong stock exchanges has led to two major autonomous driving companies, WeRide Inc. and Pony AI Inc., receiving approval from the China Securities Regulatory Commission (CSRC) for their IPOs in Hong Kong [1][2] WeRide Inc. Summary - WeRide plans to issue up to 102,428,200 shares for its overseas listing on the Hong Kong Stock Exchange [1] - The company reported a revenue of 127 million yuan in Q2 2025, marking a year-on-year growth of 60.8% [2] - The autonomous taxi business generated 45.9 million yuan in revenue during the same quarter, a significant increase of 836.7%, setting a new quarterly record for the company [2] - The gross profit increased by 40.6% year-on-year, indicating a steady growth trend [2] Pony AI Inc. Summary - Pony AI plans to issue up to 102,146,500 shares for its overseas listing on the Hong Kong Stock Exchange [1] - The company achieved a total revenue of 154 million yuan in Q2 2025, reflecting a year-on-year increase of 75.9% and a quarter-on-quarter increase of 53.5% [3] - As of Q2 2025, Pony AI's cash and cash equivalents, along with short-term investments, amounted to 5.356 billion yuan (748 million USD) [3] Global Expansion Efforts - WeRide has been actively expanding its global footprint, with its first batch of Robotaxi vehicles arriving in Singapore for testing [2] - The company has received regulatory approval to conduct driverless public road passenger services in Shanghai [2] - Pony AI has also announced partnerships in Qatar and Singapore to advance autonomous driving technology and services [4] Industry Trends - The autonomous driving sector is experiencing rapid development, supported by favorable policies in major cities like Beijing and Shanghai [4] - The market for autonomous driving is projected to grow significantly, with an estimated size of approximately 158.3 billion USD in 2023, expected to reach 273.8 billion USD by 2025 [5]

Core Insights - WeRide Inc. and Pony AI Inc. have received approval from the China Securities Regulatory Commission (CSRC) for their overseas listings in Hong Kong, indicating a growing trend of Chinese autonomous driving companies seeking international capital markets [1][6]. WeRide Inc. (文远知行) - WeRide plans to issue up to 102,428,200 shares for its listing on the Hong Kong Stock Exchange [1]. - The company reported a revenue of 127 million yuan (approximately 17.5 million USD) in Q2 2025, marking a year-on-year increase of 60.8% [3]. - The revenue from its autonomous taxi business reached 45.9 million yuan (approximately 6.3 million USD), a significant increase of 836.7% year-on-year, setting a new quarterly record since its establishment [3]. - WeRide has expanded its global presence, having obtained autonomous driving licenses in seven countries and operating in over 30 cities across 11 countries [2][3]. Pony AI Inc. (小马智行) - Pony AI plans to issue up to 102,146,500 shares for its listing on the Hong Kong Stock Exchange [1]. - The company reported total revenue of 154 million yuan (approximately 21.5 million USD) in Q2 2025, reflecting a year-on-year growth of 75.9% and a quarter-on-quarter increase of 53.5% [8]. - Pony AI's Robotaxi business generated revenue of 10.9 million yuan (approximately 1.5 million USD) in Q2 2025, with a year-on-year growth of 157.8%, driven by increased user demand and expansion of its operational fleet [8]. - The company has established operations in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen, covering over 2,000 square kilometers [8]. Industry Trends - The autonomous driving industry is experiencing rapid growth, with significant policy support from various cities in China, including the issuance of new operational licenses and standards [11][12]. - The global autonomous driving market is projected to reach approximately 273.8 billion USD by 2025, growing from about 158.3 billion USD in 2023, indicating a compound annual growth rate of nearly 30% [13].