WeRide Inc.(US:WRD)2025-11-24 14:00Financial Data and Key Metrics Changes - Total revenue for Q3 2025 reached RMB 171 million, reflecting a year-over-year growth of 144% driven by fleet expansion and service penetration [18] - Product revenue increased by 428% to RMB 79 million, while service revenue grew by 67% to RMB 92 million, with service revenue surpassing product revenue for the first time [19] - Group-level gross profit surged by 1,124% to RMB 56 million, achieving a gross margin of 33% [20] - Net loss narrowed by 71% to RMB 307 million, with adjusted net loss increasing by 15% to RMB 276 million due to ongoing R&D investments [23] Business Line Data and Key Metrics Changes - Robotaxi revenue increased by 761% year-over-year to $35 million, accounting for 21% of total revenue [20] - The company achieved an average of 12 orders per vehicle per day in Abu Dhabi, with potential to reach 25 orders per vehicle per day with extended service hours [30] Market Data and Key Metrics Changes - WeRide has secured autonomous driving permits in eight countries, including the UAE, Belgium, and Switzerland, and operates L4 fleets in 11 countries and over 30 cities [4][10] - In China, WeRide has deployed over 300 robotaxis in Guangzhou and more than 100 in Beijing, with a focus on enhancing user experience through features like free pickup and drop-off [11][38] Company Strategy and Development Direction - The company aims to scale its model globally, leveraging the successful Abu Dhabi model as a blueprint for other markets [24][32] - WeRide is focusing on maintaining a balance between R&D investment and operational expansion to achieve profitability while growing market share [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the scalability of the Abu Dhabi model to other markets, including Dubai and Riyadh, and emphasized the importance of regulatory conditions [40] - The company plans to continue investing in R&D to strengthen its technology platform and recruit top talent to support global expansion [22][33] Other Important Information - WeRide's WePilot 3.0 system is comparable to Tesla's FSD, showcasing the company's capability in both L4 robotaxi and L2 Plus systems [12][13] - The company has a robust liquidity position with RMB 4.5 billion in cash and equivalents, supporting its R&D-focused strategy [23] Q&A Session Summary Question: How should WeRide quantify revenue opportunities from vehicle sales and profit sharing in the long run? - Management explained that in China, they primarily own and operate vehicles, while in international markets, they collaborate with partners like Uber to generate revenue from ride fare shares, annual licensing, and vehicle sales [25][26] Question: Which markets could step up as key volume drivers for WeRide? - Management identified the UAE, Saudi Arabia, and developed countries in Asia and Europe as potential key markets for expansion, emphasizing the importance of replicating the Abu Dhabi model [31][32] Question: What are WeRide's key advantages in the competitive landscape? - Management highlighted their technological expertise, extensive operational experience, and AI-driven approach as key advantages over traditional OEMs and ride-hailing platforms [42][44] Question: What is the status of the $100 million share repurchase program? - Management stated that no purchases have been initiated due to regulatory restrictions related to their Hong Kong IPO, and they are preparing to seek shareholder approval to proceed with the program [55]