Chinese autonomous driving technology company WeRide (NASDAQ: WRD) has recently made headlines after confidentially filing for a Hong Kong listing, making it the latest company to do so. This move was reported by local media outlet Jiemian, citing sources familiar with the matter.
Founded in 2017, WeRide is among China’s pioneering companies specializing in advanced smart driving solutions. The company successfully went public on the Nasdaq in the United States on October 25, 2024. Since its inception, WeRide has been actively engaged in autonomous driving research, testing, and operations in 30 cities spanning across 10 countries globally.
In the first quarter of this year, WeRide reported a revenue of RMB 72.44 million ($10.08 million), which remained relatively stable compared to RMB 71.20 million in the corresponding period last year. Notably, the company’s robotaxi revenue for the same quarter amounted to RMB 16.10 million, representing 22.3 percent of the total revenue.
WeRide’s decision to confidentially file for a Hong Kong listing follows recent adjustments to the city’s listing regulations. A significant change was announced on May 6, allowing technology and biotechnology companies the option to submit listing applications confidentially, a practice previously not permitted in Hong Kong.
It is worth mentioning that Hesai Group (NASDAQ: HSAI), the world’s largest LiDAR sensor manufacturer, has also confidentially applied for a Hong Kong listing, as reported by Bloomberg on May 16. The company is reportedly collaborating with banks and gearing up for a potential share sale later this year.
WeRide’s upcoming plans include launching its first robotaxis for commercial operations in Dubai this year, with the presence of safety officers and fully driverless testing. The company aims to commence fully driverless commercial operations in the first quarter of 2026.
The news of WeRide’s confidential filing for a Hong Kong listing signifies a strategic move towards expanding its market presence and attracting more investors. As the autonomous driving industry continues to evolve, WeRide remains at the forefront of innovation and is poised for significant growth in the coming years.
