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WeRide (WRD) investor relations material
WeRide SEO filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and business model
Operates as a global leader in L4 autonomous driving, with deployments in over 30 cities across 11 countries, including China, UAE, Saudi Arabia, Switzerland, France, Singapore, and Japan.
Offers a diversified product portfolio: robotaxi, robobus, robovan, robosweeper, and ADAS, with a focus on both vehicle sales and recurring service revenue.
Business model combines vehicle sales with multi-year service fees, and includes ride-hailing, licensing, and technology services.
Maintains an asset-light approach in overseas markets, leveraging local partnerships for operations and regulatory engagement.
Strategic partnerships with Uber, Grab, Bosch, and others accelerate commercialization and global expansion.
Financial performance and metrics
Revenue for 2022, 2023, and 2024 was RMB527.5M, RMB401.8M, and RMB361.1M (US$50.4M), respectively; revenue for the first half of 2025 was RMB199.6M (US$27.9M), up 32.8% YoY.
Gross margin declined from 44.1% in 2022 to 30.7% in 2024, reflecting a shift to lower-margin products and increased service costs.
Net losses were RMB1,298.5M, RMB1,949.1M, and RMB2,516.8M (US$351.3M) for 2022, 2023, and 2024, and RMB791.5M (US$110.5M) for the first half of 2025.
R&D expenses were RMB758.6M, RMB1,058.4M, and RMB1,091.4M (US$152.4M) for 2022, 2023, and 2024, representing 74.4%, 61.3%, and 47.8% of total operating expenses.
Cash and cash equivalents as of June 30, 2025, were RMB3,836.1M (US$535.5M), with net current assets of RMB6,033.9M (US$842.3M).
Use of proceeds and capital allocation
Net proceeds from the Global Offering estimated at HK$2,932.1M (US$373.5M), assuming no exercise of the over-allotment option.
40% allocated to autonomous driving technology stack development; 40% to commercial mass production and L4 fleet operations; 10% to marketing and market expansion; 10% to working capital and general corporate purposes.
Additional investments planned in R&D personnel, infrastructure, and global market entry.
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