A rising gross margin indicates that a company is scaling efficiently. It signals a shift away from expensive hardware testing toward high-margin software and service operations. This is the holy grail for tech sector investors, as it suggests the business can grow without costs spiraling out of control.Perhaps the most critical data point for long-term investors is gross margin. In the third quarter of 2024, WeRide’s gross margin was a thin 6.5%, typical for a hardware-heavy manufacturing phase. In this la ...