Accelerating European Expansion Through Proven Asset-Light Model, Driving Rapid Overseas Revenue Growth; 2Q2026 Total Revenue Reached RMB231.7 Million, Up 82.2% Year over Year
Rhea-AI Summary
WeRide (Nasdaq: WRD; HKEX: 0800) reported strong 2Q2026 and 1H2026 growth, with 2Q total revenue up 82.2% year over year to RMB231.7 million and 103.1% quarter over quarter. 1H2026 revenue rose 73.3% YoY to RMB345.9 million.
Overseas revenue and L2++/L3 solutions were key drivers: overseas revenue grew 164.4% YoY in 2Q, while L2++/L3 business revenue jumped 2,593.8% YoY. L4 business revenue reached RMB125.2 million, up 47.3% YoY. Gross margin improved to 37.5% in 2Q and 36.6% in 1H, supported by higher-margin L2++/L3 and overseas L4 contributions.
2Q loss was RMB400.7 million, with non-IFRS adjusted loss of RMB338.5 million and negative EBITDA of RMB335.4 million, which narrowed 8.1% YoY. As of June 30, 2026, WeRide held RMB5.4 billion in cash, time deposits and restricted cash.
Positive
- 2Q2026 revenue RMB231.7 million, up 82.2% YoY and 103.1% QoQ
- 1H2026 revenue RMB345.9 million, up 73.3% YoY
- 2Q2026 overseas revenue up 164.4% YoY and 169.3% QoQ
- L2++/L3 business revenue up 2,593.8% YoY and 219.3% QoQ in 2Q2026
- 2Q2026 gross margin 37.5%, up from 28.1% a year earlier
- Cash, time deposits and restricted cash RMB5,398.5 million at June 30, 2026
Negative
- 2Q2026 loss for the period RMB400.7 million
- 1H2026 loss for the period RMB789.8 million, broadly flat YoY
- 2Q2026 non-IFRS adjusted loss RMB338.5 million, higher than RMB300.6 million a year earlier
- Negative EBITDA RMB335.4 million in 2Q2026 and RMB667.0 million in 1H2026 despite narrowing YoY
- R&D expenses rose to RMB434.3 million in 2Q2026 and RMB797.7 million in 1H2026
- Selling expenses more than doubled YoY to RMB29.2 million in 2Q2026
News Explained
WeRide now reports a 3,400-vehicle L4 footprint across 13 countries, but several European commercial deployments remain planned or in partnership stages.
The WeRide release reports a global L4 fleet of 3,400 vehicles as of
European activity is at different stages: a Spain robotaxi pilot with Uber is expected later this year, Zurich deployment work with Uber is ongoing, and a Denmark partnership with GreenMobility aims to launch public services in the first half of 2027.
WRD 3.0 deliveries reached approximately 30,000 units in the second quarter, while WeRide reported production design wins for more than 30 vehicle models and an L3 proof-of-concept project with Mercedes-Benz.
These disclosures add a second measurable commercialization channel alongside the L4 fleet: vehicle-level L2++/L3 deliveries and contracted design activity.
The named checkpoints are the Spain pilot later this year, planned Leuven robobus operations without a front-seat safety operator in the third quarter of 2026, and Denmark public services in the first half of 2027.
News Market Reaction – WRD
In the Aug 12 session, WRD declined 9.64%, reflecting a notable negative market reaction. Argus tracked a trough of -14.2% from its starting point during tracking. Our momentum scanner triggered 69 alerts that day, indicating high trading interest and price volatility. Trading volume was exceptionally heavy at 31.1x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 03 | Denmark partnership | Positive | +1.4% | Strategic GreenMobility partnership marked WeRide’s entry into Denmark and the Nordic region. |
| Jul 22 | Earnings scheduling | Neutral | -2.2% | Company scheduled second-quarter and first-half financial results for August 12. |
| Jul 17 | AI recognition | Positive | -0.5% | UAE autonomous-driving deployment received recognition among China’s top AI case studies. |
| Jul 17 | AI model launch | Positive | -2.8% | WeRide introduced WITT, highlighting lower token costs and higher data-processing efficiency. |
| Jul 13 | Global expansion | Positive | +3.0% | Company reported international expansion of its end-to-end L2++ intelligent-driving solution. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive company announcements produced mixed outcomes, including both positive and negative 24-hour reactions.
Key Terms
l2++ / l3 technical
ebitda financial
fvtpl financial
ads financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
WeRide Inc. Announces Second Quarter and First Half 2026 Unaudited Financial Results
NEW YORK, Aug. 12, 2026 (GLOBE NEWSWIRE) -- WeRide Inc. (“WeRide” or the “Company”) (Nasdaq: WRD; HKEX: 0800), a global leader in autonomous driving technology, today announced its unaudited financial results for the second quarter and first half ended June 30, 2026.
Operational and Financial Highlights
- Sustained rapid revenue growth. 2Q2026 total revenue increased by
82.2% year over year (YoY) and103.1% quarter over quarter (QoQ), and 1H2026 total revenue increased by73.3% YoY. 2Q2026 overseas revenue increased by164.4% YoY and169.3% QoQ, and 1H2026 total overseas revenue increased by154.4% YoY. - Continuous fleet expansion. As of July 31, 2026, our global L4 fleet comprised approximately 3,400 vehicles, including more than 1,800 robotaxis.
- Improved domestic robotaxi operational metrics. In 2Q2026, average daily rides per vehicle increased by
24% QoQ to over 21 rides, with peak daily completed rides per vehicle reaching 28. In 2Q2026, registered users of WeRide robotaxi service saw QoQ growth of35% , with quarterly ride-hailing revenue increasing by approximately140% QoQ. - Progressive rollout of overseas asset-light strategy. We accelerated our overseas robotaxi expansion, particularly in Spain, Switzerland, Denmark, UAE and Singapore. As of the date of this announcement, our autonomous driving businesses have been expanded to more than 60 cities across 13 countries.
L4 Business Update
Robotaxi - Overseas Operations
- First Robotaxi Market Entry into Spain. WeRide and Uber announced plans to launch Spain’s first commercial robotaxi pilot in the Region of Madrid, marking the companies’ fourth joint deployment globally and the first joint entry into the European market. The service is expected to begin operations later this year, in collaboration with Madrid’s Regional Government (Comunidad de Madrid).
- Expanding Robotaxi Partnership and Deployment in Zurich, Switzerland. We are working with Uber to advance the deployment of robotaxi services in the Greater Zurich Region, marking the parties’ fifth joint deployment globally and second joint deployment in Europe. Prior to this, we have launched robotaxi services in Zurich in collaboration with Swiss Federal Railways (Schweizerische Bundesbahnen, “SBB”), Swiss Transit Lab and ioki, a well-known European provider of on-demand mobility services. In November 2025, our robotaxi secured the first driverless robotaxi operational permit in Europe from Switzerland’s Federal Roads Office (“FEDRO”), authorizing it to operate autonomously on public roads in Zurich.
- First Autonomous Mobility Program in Denmark. We announced a strategic partnership with GreenMobility, a Denmark-based shared electric mobility provider, to jointly develop commercial autonomous mobility service in Denmark. This marks the sixth European market for us and our first entry into the Nordic region. The companies aim to launch public services in 1H2027.
- Scaling Our Operational Footprint in the Middle East. Building on our achievement of fully driverless robotaxi operations in Abu Dhabi and Dubai, our overall approved service area covers more than
70% of the core urban area in the city. Our commercial deployment in the Middle East has entered a positive cycle and continues to support a scalable local robotaxi ecosystem. As of July 31, 2026, our robotaxi fleet in the Middle East reached approximately 400 vehicles.
Robotaxi - China Operations
- Enhanced Operational Efficiency of Our Domestic Robotaxi Fleet. Fleet utilization and per-vehicle unit economics continued to improve, delivering strong performance across key operating metrics. In 2Q2026, average daily rides per vehicle increased by
24% QoQ to over 21 rides, with peak daily completed rides per vehicle reaching 28. In 2Q2026, registered users of WeRide robotaxi service saw QoQ growth of35% . As a result, our quarterly domestic ride-hailing revenue increased by approximately140% QoQ. - Broader Domestic Service Coverage. In Beijing and Guangzhou, our core operational hubs, we have continuously expanded the service area of our fully driverless robotaxi services. In Guangzhou, our service area has tripled compared with the end of 2025, now covering Huangpu, Tianhe and Haizhu districts, with commercial operations available 24/7. These operating environments present high levels of complexity, effectively demonstrating the safety and operational stability of our autonomous driving system.
Other L4 Business Lines
- Accelerating Global Robobus Rollout. Our robobuses in Zurich are now operating without a front-seat safety operator, marking the first such deployment in Europe. Our robobuses in Leuven, Belgium, are planned to operate commercially without a front-seat safety operator in 3Q2026. This year, we also partnered with Renault Group for the third consecutive year to provide robobus shuttle services during the Roland Garros French Open. In addition, we operate robobus mobility services in Japan, Saudi Arabia, Singapore, and the UAE.
L4 Business Financial Performance
- In 2Q2026, revenue from L4 businesses1 was RMB125.2 million (US
$18.5 million ), representing an increase of47.3% YoY and an increase of130.6% QoQ.
L2++ / L3 Business Update
- L2++ / L3 Solution Entering a Phase of Rapid Growth. In 2Q2026, total deliveries of WRD 3.0, our one-stage end-to-end L2++ / L3 solution, were approximately 30,000 units. To date, we have secured L2++ production design wins for over 30 vehicle models and an L3 proof-of-concept project with Mercedes-Benz. WRD 3.0 has also begun on-road testing and localization validation in France, Germany, Japan and other overseas markets.
- Rapid Commercial Monetization. In 2Q2026, revenue from our L2++ / L3 business2 increased by 2,
593.8% YoY and219.3% QoQ.
Technology / Product Development
- Launch of WeRide WITT, Our Physical AI Cognitive Foundation Model. In July 2026, we officially introduced WeRide WITT (World Intelligence Toward Truth), which continuously extracts fundamental principles that govern the physical world from vast volumes of operational data, transforming real-world experience into structured knowledge through fact extraction, fact reasoning, fact verification and fact curation. Compared with general-purpose AI models that often rely on hundreds of billions of parameters, WeRide WITT delivers strong performance with a significantly more efficient architecture, reducing token costs by up to
98% , enabling up to 10,000 minutes of vehicle-operation video processing per day on a single GPU and delivering up to 200 times greater data-processing efficiency in comparable workloads, as well as helping improve AI training, evaluation and model iteration. - WeRide GENESIS, Our Proprietary World Model, Wins Two Major International Awards. In June 2026, WeRide GENESIS received the Simulation Innovation Award at the 2026 Automotive Testing Technology International (“ATTI”) Awards and the Overall Gen-AI Solution of the Year at the 2026 AI Breakthrough Awards. WeRide GENESIS establishes a closed loop from perceiving to understanding the physical world, enabling autonomous driving systems to train, validate and iterate in large-scale, high-fidelity virtual environments. It can compress millions of kilometers of road testing into days while reducing data collection and annotation costs by more than
75% . - Launch of Right-hand-drive Robotaxis, Accelerating Global Expansion. In June 2026, we announced the joint development of pre-installed robotaxis specifically designed for right-hand-drive markets, as part of a strategic partnership with Geely Farizon and Kwoon Chung Bus Holdings Limited. The deployment of commercial right-hand-drive robotaxi services will begin in Singapore and Hong Kong, bringing transformative autonomous mobility solutions to right-hand-drive markets worldwide.
Management Commentary
Tony Han, WeRide’s Founder, Chairman, and Chief Executive Officer, stated, “In 2Q2026, WeRide made significant strides across overseas acceleration, asset-light scaling, and self-sustaining cash generation. Total revenue nearly doubled YoY while gross margin climbed to
Jennifer Li, WeRide’s Chief Financial Officer and Head of International, stated, “WeRide is delivering rapid revenue growth and is firmly on the path toward self-sustaining cash generation. Backed by proven autonomous vehicle performance and a well-established overseas ecosystem, our asset-light model has demonstrated strong replicability and is scaling rapidly across multiple cities. While global commercialization of autonomous driving remains at an early stage, the addressable market is substantial, and growth visibility is high. This model delivers compelling marginal economics and is expected to generate sustained cash flow contributions, having already become a key profit center and cash flow business for the Company. In parallel, our one-stage end-to-end L2++/L3 solution has entered a phase of rapid commercial growth, opening an additional high-growth revenue stream. WeRide remains committed to balancing business defensibility, scale expansion, and cash flow stability, and will continue to advance steadily along this path.”
Second Quarter 2026 Financial Results
Revenue
Total revenue increased by
Cost of Revenue
Cost of revenue was RMB144.8 million (US
Gross Profit and Gross Margin
Gross profit was RMB86.9 million (US
Operating Expenses
Operating expenses were RMB532.5 million (US
- R&D expenses were RMB434.3 million (US
$64.0 million ) in 2Q2026, compared with RMB318.9 million in 2Q2025. The increase was primarily due to higher personnel and outsourcing labor costs, depreciation and amortization expenses and cloud service fees. - Administrative expenses were RMB69.0 million (US
$10.2 million ) in 2Q2026, compared with RMB155.1 million in 2Q2025. The decrease was primarily due to lower share-based compensation expenses and reduced professional services fees related to our global offering and legal compliance matters. - Selling expenses were RMB29.2 million (US
$4.3 million ) in 2Q2026, compared with RMB13.8 million in 2Q2025. The increase was primarily due to higher personnel costs and increased marketing and advertising expenses.
Loss for the Period
- Loss for the period was RMB400.7 million (US
$59.1 million ) in 2Q2026, compared with RMB406.4 million in 2Q2025. - Non-IFRS adjusted loss for the period4 was RMB338.5 million (US
$49.9 million ) in 2Q2026, compared with RMB300.6 million in 2Q2025.
Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA5”)
- EBITDA was negative RMB335.4 million (US
$49.4 million ) in 2Q2026, narrowing by8.1% , compared with negative RMB364.8 million in 2Q2025.
Basic and Diluted Loss Per ADS6
- Basic and diluted loss per ordinary share was RMB0.41 (US
$0.06) in 2Q2026, compared with RMB0.45 in 2Q2025. - Basic and diluted loss per ADS was RMB1.23 (US
$0.18) in 2Q2026, compared with RMB1.35 in 2Q2025.
First Half of 2026 Financial Results
Revenue
Total revenue increased by
Cost of Revenue
Cost of revenue was RMB219.4 million (US
Gross Profit and Gross Margin
Gross profit was RMB126.5 million (US
Operating Expenses
Operating expenses were RMB1,001.6 million (US
- R&D expenses were RMB797.7 million (US
$117.6 million ) in 1H2026, compared with RMB644.6 million in 1H2025. The increase was primarily due to higher personnel and outsourcing labor costs, depreciation and amortization expenses and cloud service fees. - Administrative expenses were RMB152.1 million (US
$22.4 million ) in 1H2026, compared with RMB278.9 million in 1H2025. The decrease was primarily due to lower share-based compensation expenses and reduced professional services fees related to our global offering and legal compliance matters. - Selling expenses were RMB51.9 million (US
$7.6 million ) in 1H2026, compared with RMB27.8 million in 1H 2025. The increase was primarily due to higher personnel costs and increased marketing and advertising expenses.
Loss for the Period
- Loss for the period was RMB789.8 million (US
$116.4 million ) in 1H2026, compared with RMB791.5 million in 1H2025. - Non-IFRS adjusted loss for the period was RMB664.6 million (US
$98.0 million ) in 1H2026, compared with RMB595.1 million in 1H2025.
EBITDA
- EBITDA was negative RMB667.0 million (US
$98.3 million ) in 1H2026, narrowing by6.5% compared with negative RMB713.3 million in 1H2025.
Basic and Diluted Loss Per ADS7
- Basic and diluted loss per ordinary share in 1H2026 was RMB0.79 (US
$0.12) , compared with RMB0.87 in 1H2025. - Basic and diluted loss per ADS in 1H2026 was RMB2.37 (US
$0.36) , compared with RMB2.61 in 1H2025.
Balance Sheet
- As of June 30, 2026, WeRide held RMB5,374.8 million (US
$792.2 million ) in cash and cash equivalents and time deposits, RMB2.3 million (US$0.3 million ) in investments in wealth management products recorded as current financial assets at FVTPL, and RMB21.4 million (US$3.2 million ) in restricted cash, for an aggregate amount of RMB5,398.5 million (US$795.6 million ).
Exchange Rate Information
This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB6.7851 to US
Use of Non-IFRS Financial Measures
In evaluating its business, the Company considers and uses the non-IFRS financial measures of (i) adjusted loss for the period and (ii) EBITDA as supplemental measures to review and assess operating performance. The Company believes that adjusted loss for the period and EBITDA provide useful information to investors and others in understanding and evaluating the Company’s consolidated results of operations in the same manner as it helps the Company’s management. The Company defines adjusted loss for the period as loss for the period excluding share-based compensation expenses and fair value changes of financial assets at FVTPL. The Company defines EBITDA as loss for the period excluding income tax, finance costs, depreciation and amortization expenses.
The Company presents the non-IFRS financial measures because they are used by its management to evaluate its operating performance and formulate business plans. Adjusted loss for the period enables the Company’s management to assess the Company’s operating results without considering the impact of the aforementioned non-cash adjustment items that it does not consider to be indicative of its core operations. EBITDA enables the Company’s management to assess the Company’s operating results without considering the impact of income tax, finance costs, and depreciation and amortization expenses and focus more on the operating cash items. Accordingly, the Company believes that the use of these non-IFRS financial measures provide useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.
These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. The non-IFRS financial measures have limitations as analytical tools. One of the key limitations of using the non-IFRS financial measures is that they do not reflect all items of expenses that affect the Company’s operations. Further, these non-IFRS measures may differ from the non-IFRS information used by other companies, including peer companies, and therefore the comparability may be limited.
The non-IFRS financial measures should not be considered in isolation or construed as alternatives to loss for the period or any other measure of performance information prepared and presented in accordance with IFRS or as an indicator of the Company’s operating performance. Investors are encouraged to review the Company’s historical non-IFRS financial measures in light of the most directly comparable IFRS measure, as shown below. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing the Company’s data comparatively. It is encouraged that you review the Company’s financial information in its entirety and not rely on a single financial measure.
Conference Call
The Company’s management will hold an earnings conference call at 8:00 A.M. U.S. Eastern Time or 8:00 P.M. Hong Kong Time on Wednesday, August 12, 2026. Details for the conference call are as follows:
Event Title: WeRide Inc. Second Quarter and First Half 2026 Earnings Call
Registration Link: https://register-conf.media-server.com/register/BIae5622619adf4da3b99161c402e831e8
Chinese Simultaneous Interpretation Registration Link (listen-only mode): https://register-conf.media-server.com/register/BI0c260dd324304548982b2c9490587a36
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call. A live and archived webcast of the conference call will be available at the Company’s investor relations website at https://ir.weride.ai.
About WeRide
WeRide is a global leader and a first mover in the autonomous driving industry, as well as the first publicly traded robotaxi company. Our autonomous vehicles have been tested or operated in over 60 cities across 13 countries. We are also the first and only technology company whose products have received autonomous driving permits in eight markets: China, Switzerland, the UAE, Singapore, France, Saudi Arabia, Belgium, and the U.S. Empowered by the smart, versatile, cost-effective, and highly adaptable WeRide One platform, WeRide provides autonomous driving products and services from L2 to L4, addressing transportation needs in the mobility, logistics, and sanitation industries. WeRide was named to Fortune’s 2025 Change the World and 2025 Future 50 lists.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about WeRide’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in WeRide’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and WeRide does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts
Investor inquiries: ir@weride.ai
Press inquiries: pr@weride.ai
Piacente Financial Communications
E-mail: weride@thepiacentegroup.com
| WeRide Inc. Unaudited Condensed Consolidated Statements of Financial Position | |||||
| As of | |||||
| June 30, 2026 | June 30, 2026 | December 31, 2025 | |||
| RMB’000 | US$’000 | RMB’000 | |||
| ASSETS Non-current assets | |||||
| Property and equipment | 573,233 | 84,484 | 378,769 | ||
| Right-of-use assets | 139,560 | 20,569 | 65,870 | ||
| Intangible assets | 16,426 | 2,421 | 17,966 | ||
| Goodwill | 44,758 | 6,597 | 44,758 | ||
| Restricted cash – non-current | 10,988 | 1,619 | 6,487 | ||
| Financial assets at FVTPL – non-current | 252,411 | 37,201 | 188,083 | ||
| Other non-current assets | 89,964 | 13,259 | 23,668 | ||
Total non-current assets | 1,127,340 | 166,150 | 725,601 | ||
Current assets | |||||
| Inventories | 439,112 | 64,717 | 321,021 | ||
| Contract assets | 23,964 | 3,532 | 23,305 | ||
| Trade receivables | 455,765 | 67,171 | 462,135 | ||
| Prepayments and other receivables | 303,486 | 44,729 | 269,986 | ||
| Prepayments to and amounts due from | |||||
| related parties | 18,217 | 2,685 | 9,010 | ||
| Financial assets at FVTPL – current | 2,293 | 338 | 144,252 | ||
| Time deposits | 1,099,805 | 162,091 | 301,401 | ||
| Cash and cash equivalents | 4,275,014 | 630,059 | 6,666,304 | ||
| Restricted cash – current | 10,420 | 1,536 | 12,910 | ||
Total current assets | 6,628,076 | 976,858 | 8,210,324 | ||
Total assets | 7,755,416 | 1,143,008 | 8,935,925 | ||
| EQUITY Total equity | 6,395,302 | 942,552 | 7,900,174 | ||
| WeRide Inc. Unaudited Condensed Consolidated Statements of Financial Position (Continued) | |||||
| As of | |||||
| June 30, 2026 | June 30, 2026 | December 31, 2025 | |||
| RMB’000 | US$’000 | RMB’000 | |||
| LIABILITIES Non-current liabilities | |||||
| Lease liabilities – non-current | 95,397 | 14,060 | 23,241 | ||
| Deferred tax liabilities | 2,991 | 441 | 3,489 | ||
| Other non-current liabilities | 24,994 | 3,684 | 7,720 | ||
Total non-current liabilities | 123,382 | 18,185 | 34,450 | ||
Current liabilities | |||||
| Short-term bank loans | 485,047 | 71,487 | 324,263 | ||
| Trade payables | 243,563 | 35,897 | 163,000 | ||
| Other payables, deposits received and accrued | |||||
| expenses | 385,088 | 56,755 | 408,357 | ||
| Contract liabilities | 48,053 | 7,082 | 28,512 | ||
| Lease liabilities – current | 35,390 | 5,216 | 31,920 | ||
| Amounts due to related parties | 7,910 | 1,166 | 1,949 | ||
| Put option liabilities | 31,681 | 4,668 | 43,300 | ||
Total current liabilities | 1,236,732 | 182,271 | 1,001,301 | ||
Total liabilities | 1,360,114 | 200,456 | 1,035,751 | ||
Total equity and liabilities | 7,755,416 | 1,143,008 | 8,935,925 | ||
| WeRide Inc. Unaudited Condensed Consolidated Statements of Profit or Loss | ||||||||||||||||||
| Six Months Ended June 30, | Three Months Ended June 30, | |||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | |||||||||||||
| Revenue | ||||||||||||||||||
| Product revenue | 112,783 | 16,622 | 69,281 | 92,322 | 13,607 | 59,781 | ||||||||||||
| Service revenue | 233,074 | 34,351 | 130,334 | 139,395 | 20,544 | 67,397 | ||||||||||||
| 345,857 | 50,973 | 199,615 | 231,717 | 34,151 | 127,178 | |||||||||||||
| Cost of revenue(b) | ||||||||||||||||||
| Cost of goods sold | (75,578 | ) | (11,139 | ) | (35,461 | ) | (62,442 | ) | (9,203 | ) | (30,699 | ) | ||||||
| Cost of services | (143,806 | ) | (21,194 | ) | (103,095 | ) | (82,406 | ) | (12,145 | ) | (60,775 | ) | ||||||
| (219,384 | ) | (32,333 | ) | (138,556 | ) | (144,848 | ) | (21,348 | ) | (91,474 | ) | |||||||
| Gross profit | 126,473 | 18,640 | 61,059 | 86,869 | 12,803 | 35,704 | ||||||||||||
| Research and development expenses(a)(b) | (797,654 | ) | (117,560 | ) | (644,635 | ) | (434,329 | ) | (64,012 | ) | (318,918 | ) | ||||||
| Selling expenses(a)(b) | (51,891 | ) | (7,648 | ) | (27,780 | ) | (29,210 | ) | (4,305 | ) | (13,849 | ) | ||||||
| Administrative expenses(a)(b) | (152,066 | ) | (22,412 | ) | (278,942 | ) | (68,998 | ) | (10,169 | ) | (155,061 | ) | ||||||
| Other net income | 22,612 | 3,333 | 3,021 | 10,980 | 1,618 | 337 | ||||||||||||
| Impairment loss on receivables and contract assets | (384 | ) | (57 | ) | (2,800 | ) | 12,754 | 1,880 | (2,077 | ) | ||||||||
| Operating loss | (852,910 | ) | (125,704 | ) | (890,077 | ) | (421,934 | ) | (62,185 | ) | (453,864 | ) | ||||||
| Net foreign exchange (loss)/gain | (24,489 | ) | (3,609 | ) | 5,629 | (13,654 | ) | (2,012 | ) | 1,557 | ||||||||
| Interest income | 98,506 | 14,518 | 74,946 | 44,602 | 6,574 | 35,200 | ||||||||||||
| Fair value changes of financial assets at FVTPL | (5,909 | ) | (871 | ) | 23,154 | (7,121 | ) | (1,050 | ) | 13,971 | ||||||||
| Finance costs | (5,089 | ) | (750 | ) | (3,292 | ) | (2,788 | ) | (411 | ) | (1,873 | ) | ||||||
| Loss before taxation | (789,891 | ) | (116,416 | ) | (789,640 | ) | (400,895 | ) | (59,084 | ) | (405,009 | ) | ||||||
| Income tax | 141 | 21 | (1,877 | ) | 230 | 34 | (1,436 | ) | ||||||||||
| Loss for the period | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | ||||||
| Loss attributable to ordinary shareholders of the Company | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | ||||||
| Loss per ordinary share | ||||||||||||||||||
| Basic and diluted loss per Class A and Class B ordinary share | (0.79 | ) | (0.12 | ) | (0.87 | ) | (0.41 | ) | (0.06 | ) | (0.45 | ) | ||||||
| Loss per ADS | ||||||||||||||||||
| Basic and diluted loss per ADS | (2.37 | ) | (0.36 | ) | (2.61 | ) | (1.23 | ) | (0.18 | ) | (1.35 | ) | ||||||
Note:
(a) Includes share-based compensation expenses as follows:
| Six Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Research and development expenses | (79,381 | ) | (11,699 | ) | (86,386 | ) | (38,327 | ) | (5,649 | ) | (38,663 | ) | |||||
| Administrative expenses | (37,225 | ) | (5,486 | ) | (129,414 | ) | (15,151 | ) | (2,233 | ) | (79,421 | ) | |||||
| Selling expenses | (2,604 | ) | (384 | ) | (3,722 | ) | (1,613 | ) | (238 | ) | (1,774 | ) | |||||
| Total share-based compensation expenses | (119,210 | ) | (17,569 | ) | (219,522 | ) | (55,091 | ) | (8,120 | ) | (119,858 | ) | |||||
(b) Includes depreciation and amortization expenses as follows:
| Six Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Costs of sales | (4,715 | ) | (695 | ) | (3,976 | ) | (2,191 | ) | (323 | ) | (2,354 | ) | |||||
| Research and development expenses | (97,123 | ) | (14,314 | ) | (56,342 | ) | (52,305 | ) | (7,709 | ) | (30,114 | ) | |||||
| Administrative expenses | (14,339 | ) | (2,113 | ) | (11,634 | ) | (7,256 | ) | (1,069 | ) | (5,210 | ) | |||||
| Selling expenses | (1,636 | ) | (241 | ) | (1,075 | ) | (977 | ) | (144 | ) | (629 | ) | |||||
| Total depreciation and amortization expenses | (117,813 | ) | (17,363 | ) | (73,027 | ) | (62,729 | ) | (9,245 | ) | (38,307 | ) | |||||
| WeRide Inc. Reconciliation of IFRS Measures to Non-IFRS Measures |
The table below sets forth a reconciliation of loss for the period to non-IFRS adjusted loss for the periods indicated:
| Six Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Loss for the period | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | |||||
| Add: | |||||||||||||||||
| Share-based compensation expenses | 119,210 | 17,569 | 219,522 | 55,091 | 8,120 | 119,858 | |||||||||||
| Fair value changes of financial assets at FVTPL | 5,909 | 871 | (23,154 | ) | 7,121 | 1,050 | (13,971 | ) | |||||||||
| Adjusted loss for the period | (664,631 | ) | (97,955 | ) | (595,149 | ) | (338,453 | ) | (49,880 | ) | (300,558 | ) | |||||
The table below sets forth a reconciliation of loss for the period to EBITDA for the periods indicated:
| Six Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Loss for the period | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | |||||
| Add: | |||||||||||||||||
| Income tax | (141 | ) | (21 | ) | 1,877 | (230 | ) | (34 | ) | 1,436 | |||||||
| Finance costs | 5,089 | 750 | 3,292 | 2,788 | 411 | 1,873 | |||||||||||
| Depreciation and amortization expenses | 117,813 | 17,363 | 73,027 | 62,729 | 9,245 | 38,307 | |||||||||||
| EBITDA | (666,989 | ) | (98,303 | ) | (713,321 | ) | (335,378 | ) | (49,428 | ) | (364,829 | ) | |||||
___________________________
1 L4 business represents sales of autonomous driving vehicles and provision of autonomous driving related operational and technical support services.
2 L2++ / L3 business represents ADAS research and development services.
3 AI infrastructure business mainly represents intelligent data services.
4 Non-IFRS adjusted loss for the period is defined as loss for the period excluding share-based compensation expenses and fair value changes of financial assets at FVTPL.
5 EBITDA is defined as loss for the period excluding income tax, finance costs and depreciation and amortization expenses.
6 ADS-to-Class A ordinary share ratio is 1:3.
7 ADS-to-Class A ordinary share ratio is 1:3.
