- WeRide is one of China’s earliest companies focused on smart driving solutions, and went public on the Nasdaq in October 2024.
- WeRide is the latest company reported to have confidentially filed for a Hong Kong listing following adjustments to the city’s listing regulations.
Chinese autonomous driving technology company WeRide (NASDAQ: WRD) has confidentially filed for a Hong Kong listing, becoming the latest to do so.
Local media outlet Jiemian reported the move today, citing sources, without providing further details.
WeRide was founded in 2017 and is one of China’s earliest companies focused on advanced smart driving solutions. On October 25, 2024, the company was listed on the Nasdaq in the US.
To date, it has conducted autonomous driving research, testing, and operations in 30 cities across 10 countries worldwide.
WeRide reported revenue of RMB 72.44 million ($10.08 million) in the first quarter of this year, roughly flat compared to RMB 71.20 million in the same period last year.
Its robotaxi revenue for the first quarter was RMB 16.10 million, accounting for 22.3 percent of total revenue.
WeRide is the latest company reported to have confidentially submitted an application to list in Hong Kong following adjustments to the city’s listing regulations.
Hong Kong’s stock market previously did not allow companies to submit listing applications confidentially, unlike the US stock market.
On May 6, Hong Kong’s securities regulator and the Hong Kong Stock Exchange announced that they would begin allowing technology companies and biotechnology companies to choose to submit listing applications confidentially.
The new rule means that a company can disclose its prospectus after passing the Hong Kong Stock Exchange’s listing hearing.
On May 16, Bloomberg reported that Hesai Group (NASDAQ: HSAI), the world’s largest LiDAR sensor manufacturer, has confidentially applied for a Hong Kong listing.
Hesai was working with banks and planned to conduct a potential share sale this year, according to Bloomberg.
($1 = RMB 7.1851)
WeRide’s first robotaxis will start commercial operations with safety officers and fully driverless testing in Dubai this year, with fully driverless commercial operations set to start in the first quarter of 2026.
