Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Exhibit 99.1 to this Report on Form 6-K
shall be deemed to be incorporated by reference into the registration statements on Form S-8 (Registration
Nos. 333-286106 and 333-294551) and the registration statement on Form F-3ASR (Registration No. 333-291214)
of WeRide Inc. (including any prospectuses forming a part of such registration statements) and to be a part thereof from the date on
which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
WRD 3.0 Becomes China’s First Four-Time
Urban Intelligent Driving Champion,
WeRide Reports Record Q1 2026 Revenue, up 58%
Year over Year
WeRide Inc. Announces First Quarter 2026 Unaudited
Financial Results
NEW YORK, May 13, 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 first quarter ended March 31, 2026.
First Quarter 2026 Financial Highlights
| · | Total revenue was RMB114.1 million (US$16.5 million),
representing an increase of 57.6% year over year. |
| · | Product revenue was RMB20.5 million (US$3.0 million),
representing an increase of 115.8% year over year, primarily attributable to increased revenue from robotaxi and other L4 vehicle sales. |
| · | Service revenue was RMB93.7 million (US$13.6
million), representing an increase of 49.0% year over year. |
| · | Gross profit was RMB39.6 million (US$5.7 million),
representing an increase of 55.9% year over year, with a gross profit margin of 34.7%. |
| · | R&D expenses were RMB363.3 million (US$52.7
million), representing an increase of 11.5% year over year. |
| · | Operating loss was RMB431.0 million (US$62.5
million), representing a narrowing of 1.2% year over year. |
| · | As of March 31, 2026, WeRide held RMB6,177.8
million (US$895.6 million) in cash and cash equivalents and time deposits, RMB28.9 million (US$4.2 million) in investments in wealth management
products which were included in financial assets at fair value through profit and loss (“FVTPL”) and financial assets at amortized
costs, and RMB18.0 million (US$2.6 million) in restricted cash, for an aggregate amount of RMB6,224.7 million (US$902.4 million). |
Robotaxi Business Update
Robotaxi, our flagship product, is a powerful
demonstration of our autonomous driving technology and plays a central role in our expansion and growth strategy. As of April 30,
2026, our global robotaxi fleet had reached a new milestone of approximately 1,300 vehicles.
China Operations
| · | Continued fleet expansion and broader operational
design domain (“ODD”) coverage ushered in the thousand-vehicle era for WeRide’s China Robotaxi operations, further advancing
commercialization and improving service accessibility. As of April 30, 2026, WeRide’s Robotaxi fleet in China had grown to approximately
1,000 vehicles, significantly enhancing customer coverage and reducing passenger waiting times. This ongoing growth underscores WeRide’s
commercial readiness and lays the foundation for further service efficiency improvements, broader user adoption, and future large-scale
deployment. WeRide plans to expand robotaxi service into one more Tier 1 city in 2026, marking another step forward in its commercialization
strategy and geographic expansion. |
| · | Fleet utilization and user adoption continued
to climb, reflecting rising rider demand and ongoing commercialization progress. During the first quarter of 2026, average daily orders
per vehicle exceeded 17, rising to 28 during peak periods. As of quarter-end, the number of registered users of WeRide’s robotaxi
service had approximately doubled year over year, highlighting the growing user adoption of robotaxi services as an everyday mobility
solution. |
| · | Deeper partnerships advanced robotaxi ecosystem
development and large-scale commercialization of Level 4 autonomous driving. In April 2026, WeRide and Lenovo announced an expanded
collaboration to accelerate the global deployment of autonomous vehicles. Over the next five years, the two companies expect to jointly
deploy 200,000 AVs worldwide, including robotaxis. |
International Operations
| · | Singapore’s first autonomous public
ride service in Punggol launched with Grab. On April 1, 2026, WeRide officially commenced public operations in Singapore’s
Punggol district in partnership with Grab, marking an important milestone in the Company’s Southeast Asia expansion. Since the initial
trial phase began in January 2026, the service has accumulated over 30,000 kilometers of autonomous driving mileage, demonstrating
the operational readiness and reliability of WeRide’s technology in a highly regulated international market. |
| · | Dubai’s first fully driverless, fare-charging
Robotaxi operation debuted. In April 2026, WeRide commenced operation of Dubai’s first fully driverless commercial robotaxi
service in partnership with Uber and Dubai's Roads and Transport Authority (“RTA”), marking a significant breakthrough in
autonomous mobility development in the Middle East. WeRide also continued to strengthen its leadership position in the Middle East robotaxi
market, with services in Abu Dhabi now covering approximately 70% of the city’s core areas. WeRide plans to deploy 1,200 Robotaxis
across Abu Dhabi, Dubai and Riyadh by 2027. |
| · | European footprint expanded into Slovakia.
In March 2026, WeRide launched Slovakia’s first autonomous driving program through a strategic partnership with ELEVATE
Slovakia, entering its fourth European market following France, Belgium and Switzerland. The program represents Europe’s first national-level,
large-scale commercial deployment of multiple autonomous driving product lines and establishes a foundation for future fully driverless
commercial operations. |
Other Autonomous Applications
| · | WRD 3.0 became the China Urban Intelligent
Driving Competition’s first four-time champion. In April 2026, WeRide Driving (“WRD 3.0”), the Company’s
one-stage end-to-end L2++ ADAS solution, became the first and only solution in the history of the China Urban Intelligent Driving Competition
to win four consecutive championships, further validating WeRide’s technological leadership in complex, real-world urban driving
environments. Powered by WeRide’s GENESIS simulation world model and extensive L4 real-world road data, WRD 3.0 demonstrates strong
scenario generalization, self-optimizing learning, and production-ready engineering performance across diverse configurations. This achievement
further validates the maturity, competitiveness, and scalability of WeRide’s technology platform, while highlighting the transferability
of its Level 4 autonomous driving capabilities to mass-production intelligent driving solutions. |
| · | L2++ commercialization and OEM adoption continued
to progress. In April 2026, GAC Aion officially launched the Aion N60, its first mass-produced passenger vehicle jointly developed
by WeRide. Aion N60 also represents WeRide’s first mass-production deployment of one-stage end-to-end technology on the Qualcomm
Snapdragon platform. In addition, WRD 3.0 has secured production design wins across nearly 30 vehicle models with leading OEMs such as
GAC and Chery, and plans to expand internationally with partners such as Tiggo, Lepas, Omoda, and JAECOO, bringing its proven intelligent
driving solutions to a broader global market. |
| · | Robobus deployments advanced globally.
WeRide’s robobus operations at the Zurich airport received approval to remove the front-seat safety driver, a significant stride
toward fully driverless commercial deployment. In Geneva, WeRide has begun collaborating with TPG, a leading public transport operator,
to deploy its first robobus units. In France, WeRide will operate its Robobus shuttle service with Renault at the Roland Garros French
Open for the third consecutive year. |
| · | Our diversified mobility applications continue
to generate additional revenue streams and strengthen our presence in 12 countries globally. As of April 30, 2026, WeRide’s
global AV fleet, spanning robotaxis, robobuses, robovans, and robosweepers, expanded to approximately 2,800 vehicles. |
Technology Development
| · | WeRide GENESIS improves long-tail corner-case
data collection, generation and training efficiency by thousands of times versus traditional road testing. As a highly scalable and
versatile simulation platform, WeRide GENESIS supports diverse urban driving environments, sensor configurations and vehicle platforms,
spanning applications from Level 2++ ADAS to Level 4 Robotaxis. By enabling AI drivers worldwide to be trained and validated on a unified
platform, WeRide GENESIS eliminates the need for separate simulation systems across cities and vehicle models, significantly enhancing
development efficiency and scalability. Leveraging generative AI and closed-loop simulation capabilities, the platform can recreate rare
and extreme real-world driving scenarios that are difficult to capture on public roads, further accelerating algorithm iteration, validation
and global deployment. |
| · | Multi-Chip Compatibility for Scalable Autonomous
Driving. In April 2026, WRD 3.0 achieved multi-chip compatibility across NVIDIA DRIVE, Qualcomm Snapdragon and SiEngine StarLight
platforms, enabling flexible deployment of L2++ ADAS solutions across a wide range of computing configurations and cost tiers. WRD 3.0
also integrates the algorithmic capabilities and safety standards validated through WeRide’s long-term, real-world Level 4 autonomous
driving operations into an L2++ solution for mass production. |
| · | SiEngine Technology partnership strengthened
ADAS Ecosystem. In April 2026, WeRide signed a strategic partnership agreement with SiEngine Technology to deepen “chip
+ algorithm” integration and accelerate the large-scale deployment of L2++ ADAS solutions across a broader range of vehicle segments
and pricing tiers. |
Management Commentary
Tony Han, WeRide's
Founder, Chairman, and Chief Executive Officer, stated, “The first quarter of 2026 marked continued
progress in WeRide’s autonomous driving technology and global deployment, with WeRide GENESIS at the center of this momentum. As
our proprietary closed-loop simulation, foundation model and AI training platform, GENESIS integrates large-scale data, simulation and
end-to-end model training to enhance system generalization, accelerate iteration cycles and support scalable deployment across diverse
cities, vehicle platforms and operating environments. During the quarter, we expanded robotaxi operations in China and overseas while
advancing L2++ ADAS commercialization. In China, our robotaxi fleet had grown to approximately 1,000 vehicles, with registered users approximately doubling
year over year. These achievements reinforce our confidence that WeRide is on a clear path to becoming a definitive global autonomous
driving platform, powered by stronger AI training infrastructure.”
Jennifer Li, WeRide’s Chief Financial
Officer and Head of International, added, “We delivered first quarter revenue of US$16.5 million, up 58% year over year,
driven by 116% growth in product revenue as robotaxi and other L4 vehicle sales scaled. Gross margin remained industry-leading at
35%, supported by our efficient deployment playbook and focus on higher-value mobility markets. Gross profit grew 56% year over
year, while operating loss continued to narrow despite sustained R&D investment. With fully driverless services in Dubai and Abu
Dhabi, public ride-hailing in Singapore, and Slovakia set to become our fourth European market, we continue to demonstrate safe,
reliable deployment across diverse regulatory environments.”
First Quarter 2026 Financial Results
Revenue
Total revenue grew 57.6% year over year to RMB114.1
million (US$16.5 million) in the first quarter of 2026, compared with RMB72.4 million in the same period of 2025.
| · | Product revenue increased by 115.8% year over
year from RMB9.5 million in the first quarter of 2025 to RMB20.5 million (US$3.0 million) in the same period of 2026. The increase was
primarily attributable to increased revenue from robotaxi and other L4 vehicle sales. |
| · | Service revenue increased 49.0% year over year
from RMB62.9 million in the first quarter of 2025 to RMB93.7 million (US$13.6 million) in the same period of 2026. The increase was primarily
attributable to intelligent data services and ADAS services. |
Cost of Revenue
Cost of revenue was RMB74.5 million (US$10.8 million)
in the first quarter of 2026, compared with RMB47.1 million in the same period of 2025. The increase in cost of revenue was in line with
the increase in product sales as well as the increase in revenue from intelligent data services.
Gross Profit and Gross Margin
Gross profit was RMB39.6 million (US$5.7 million)
in the first quarter of 2026, compared with RMB25.4 million in the same period of 2025. Gross margin was 34.7% in the first quarter of
2026, compared with 35.0% in the same period of 2025.
Operating Expenses
Operating expenses were RMB469.1 million (US$68.0
million) in the first quarter of 2026, compared with RMB463.5 million in the same period of 2025.
| · | R&D expenses were RMB363.3 million (US$52.7
million) in the first quarter of 2026, compared with RMB325.7 million in the same period of 2025. Excluding share-based compensation,
R&D expenses were RMB322.3 million, compared with RMB278.0 million in the same period of 2025, representing an increase of 15.9%.
The increase in R&D expenses was primarily due to (i) an increase of RMB20.3 million in material consumption and depreciation
and amortization expenses; and (ii) an increase of RMB16.6 million in service fees for R&D projects. |
| · | Administrative expenses were RMB83.1 million
(US$12.0 million) in the first quarter of 2026, compared with RMB123.9 million in the same period of 2025. Excluding share-based compensation,
administrative expenses were RMB61.0 million, compared with RMB73.9 million in the same period of 2025, representing a decrease of 17.5%.
The decrease was primarily due to a RMB19.0 million decrease in professional services fees mainly related to audit and legal compliance
services, partially offset by an increase of RMB1.8 million in personnel costs. |
| · | Selling expenses were RMB22.7 million (US$3.3
million) in the first quarter of 2026, compared with RMB13.9 million in the same period of 2025. Excluding share-based compensation, selling
expenses were RMB21.7 million, compared with RMB12.0 million in the same period of 2025, representing an increase of 81.0%, in line with
business growth. |
Net Loss
| · | Net loss was RMB389.1 million (US$56.4 million)
in the first quarter of 2026, compared with RMB385.1 million in the same period of 2025. |
| · | Non-IFRS adjusted net loss1 was
RMB326.2 million (US$47.3 million) in the first quarter of 2026, compared with RMB294.6 million in the same period of 2025. |
Basic and Diluted Net Loss Per ADS2
| · | Basic and diluted net loss per ordinary share
was RMB0.38 (US$0.06) in the first quarter of 2026, compared with RMB0.46 in the same period of 2025. |
| · | Basic and diluted net loss per ADS were RMB1.14
(US$0.18) in the first quarter of 2026, compared with RMB1.38 in the same period of 2025. |
Balance Sheet
| · | As of March 31, 2026, WeRide held RMB6,177.8
million (US$895.6 million) in cash and cash equivalents and time deposits, RMB28.9 million (US$4.2 million) in investments in wealth management
products which were included in financial assets at FVTPL and financial assets at amortized costs, and RMB18.0 million (US$2.6 million)
in restricted cash, for an aggregate amount of RMB6,224.7 million (US$902.4 million). |
1
Non-IFRS adjusted net loss is defined as net loss for the period excluding share-based compensation expenses and fair value changes of
financial assets at FVTPL.
2
ADS-to-Class A ordinary share ratio is 1:3.
Exchange Rate Information
This announcement contains translations of certain
Renminbi (“RMB”) amounts into U.S. dollars (“US$”) 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 RMB6.8980 to US$1.00, the exchange rate in effect as of
March 31, 2026, as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. The Company
makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any
particular rate, or at all.
Use of Non-IFRS Financial Measures
In evaluating its business, the Company considers
and uses the non-IFRS financial measure of adjusted net loss as a supplemental measure to review and assess operating performance. The
Company believes that adjusted net loss provides 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 net loss
as net loss for the period excluding share-based compensation expenses and fair value changes of financial assets at FVTPL.
The Company presents the non-IFRS financial measure
because it is used by its management to evaluate its operating performance and formulate business plans. Adjusted net loss 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. Accordingly, the Company believes that the use of
this non-IFRS financial measure provides useful information to investors and others in understanding and evaluating its operating results
in the same manner as its management and board of directors.
This non-IFRS financial measure is not defined
under IFRS and is not presented in accordance with IFRS. The non-IFRS financial measure has limitations as an analytical tool. One of
the key limitations of using the adjusted net loss is that it does not reflect all items of expenses that affect the Company’s operations.
Further, this non-IFRS measure may differ from the non-IFRS information used by other companies, including peer companies, and therefore
its comparability may be limited.
The non-IFRS financial measure should not be considered
in isolation or construed as an alternative 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 measure in light of the most directly comparable IFRS measure, as shown below. The non-IFRS financial measure
presented here may not be comparable to similarly titled measure 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, May 13, 2026. Details for the
conference call are as follows:
Event Title: WeRide Inc. First Quarter 2026 Earnings
Call
Registration Link: https://register-conf.media-server.com/register/BI4f8923e8635f4caebcbd76616557ca14
Chinese Simultaneous Interpretation Registration Link (listen-only mode): https://register-conf.media-server.com/register/BI6622e7a1888d405d82d9f8ee057ac85c
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 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 40 cities across 12 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 US. 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 |
|
| |
|
March 31,
2026 |
|
|
March 31,
2026 |
|
|
December 31,
2025 |
|
| |
|
RMB’000 |
|
|
US$’000 |
|
|
RMB’000 |
|
| ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
| Non-current assets |
|
|
|
|
|
|
|
|
|
|
|
|
| Property and equipment |
|
|
440,519 |
|
|
|
63,862 |
|
|
|
378,769 |
|
| Right-of-use assets |
|
|
57,140 |
|
|
|
8,284 |
|
|
|
65,870 |
|
| Intangible assets |
|
|
16,804 |
|
|
|
2,436 |
|
|
|
17,966 |
|
| Goodwill |
|
|
44,758 |
|
|
|
6,489 |
|
|
|
44,758 |
|
| Restricted cash – non-current |
|
|
12,874 |
|
|
|
1,866 |
|
|
|
6,487 |
|
| Financial assets at FVTPL – non-current |
|
|
198,031 |
|
|
|
28,708 |
|
|
|
188,083 |
|
| Other non-current assets |
|
|
73,840 |
|
|
|
10,705 |
|
|
|
23,668 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total non-current assets |
|
|
843,966 |
|
|
|
122,350 |
|
|
|
725,601 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Current assets |
|
|
|
|
|
|
|
|
|
|
|
|
| Inventories |
|
|
338,107 |
|
|
|
49,015 |
|
|
|
321,021 |
|
| Contract assets |
|
|
26,691 |
|
|
|
3,869 |
|
|
|
23,305 |
|
| Trade receivables |
|
|
421,992 |
|
|
|
61,176 |
|
|
|
462,135 |
|
| Prepayments and other receivables |
|
|
292,067 |
|
|
|
42,341 |
|
|
|
269,986 |
|
| Prepayments to and amounts due from |
|
|
|
|
|
|
|
|
|
|
|
|
| related parties |
|
|
12,715 |
|
|
|
1,843 |
|
|
|
9,010 |
|
| Financial assets at FVTPL – current |
|
|
2,443 |
|
|
|
354 |
|
|
|
144,252 |
|
| Financial assets measured at amortized cost |
|
|
26,427 |
|
|
|
3,831 |
|
|
|
- |
|
| Time deposits |
|
|
998,206 |
|
|
|
144,709 |
|
|
|
301,401 |
|
| Cash and cash equivalents |
|
|
5,179,621 |
|
|
|
750,887 |
|
|
|
6,666,304 |
|
| Restricted cash – current |
|
|
5,154 |
|
|
|
747 |
|
|
|
12,910 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total current assets |
|
|
7,303,423 |
|
|
|
1,058,772 |
|
|
|
8,210,324 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
|
8,147,389 |
|
|
|
1,181,122 |
|
|
|
8,935,925 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
| Total equity |
|
|
7,140,813 |
|
|
|
1,035,201 |
|
|
|
7,900,174 |
|
WeRide Inc.
Unaudited Condensed Consolidated
Statements of Financial Position (Continued)
| |
|
As of |
|
| | |
March 31, 2026 | | |
March 31, 2026 | | |
December 31, 2025 | |
| | |
RMB’000 | | |
US$’000 | | |
RMB’000 | |
| LIABILITIES | |
| | | |
| | | |
| | |
| Non-current liabilities | |
| | | |
| | | |
| | |
| Lease liabilities – non-current | |
| 21,018 | | |
| 3,047 | | |
| 23,241 | |
| Deferred tax liabilities | |
| 3,240 | | |
| 470 | | |
| 3,489 | |
| Other non-current liabilities | |
| 24,832 | | |
| 3,600 | | |
| 7,720 | |
| | |
| | | |
| | | |
| | |
| Total non-current liabilities | |
| 49,090 | | |
| 7,117 | | |
| 34,450 | |
| | |
| | | |
| | | |
| | |
| Current liabilities | |
| | | |
| | | |
| | |
| Short-term bank loans | |
| 294,244 | | |
| 42,656 | | |
| 324,263 | |
| Trade payables | |
| 191,057 | | |
| 27,697 | | |
| 163,000 | |
| Other payables, deposits received and accrued expenses | |
| 366,869 | | |
| 53,183 | | |
| 408,357 | |
| Contract liabilities | |
| 30,983 | | |
| 4,492 | | |
| 28,512 | |
| Lease liabilities – current | |
| 25,562 | | |
| 3,706 | | |
| 31,920 | |
| Amounts due to related parties | |
| 5,471 | | |
| 793 | | |
| 1,949 | |
| Put option liabilities | |
| 43,300 | | |
| 6,277 | | |
| 43,300 | |
| | |
| | | |
| | | |
| | |
| Total current liabilities | |
| 957,486 | | |
| 138,804 | | |
| 1,001,301 | |
| | |
| | | |
| | | |
| | |
| Total liabilities | |
| 1,006,576 | | |
| 145,921 | | |
| 1,035,751 | |
| | |
| | | |
| | | |
| | |
| Total equity and liabilities | |
| 8,147,389 | | |
| 1,181,122 | | |
| 8,935,925 | |
WeRide Inc.
Unaudited Condensed Consolidated
Statements of Profit or Loss
| | |
Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
RMB’000 | | |
US$’000 | | |
RMB’000 | |
| Revenue | |
| | | |
| | | |
| | |
| Product revenue | |
| 20,461 | | |
| 2,966 | | |
| 9,500 | |
| Service revenue | |
| 93,679 | | |
| 13,581 | | |
| 62,937 | |
| | |
| 114,140 | | |
| 16,547 | | |
| 72,437 | |
| | |
| | | |
| | | |
| | |
| Cost of revenue | |
| | | |
| | | |
| | |
| Cost of goods sold | |
| (13,136 | ) | |
| (1,904 | ) | |
| (4,762 | ) |
| Cost of services | |
| (61,400 | ) | |
| (8,901 | ) | |
| (42,320 | ) |
| | |
| (74,536 | ) | |
| (10,805 | ) | |
| (47,082 | ) |
| | |
| | | |
| | | |
| | |
| Gross profit | |
| 39,604 | | |
| 5,742 | | |
| 25,355 | |
| | |
| | | |
| | | |
| | |
| Research and development expenses(a) | |
| (363,325 | ) | |
| (52,671 | ) | |
| (325,717 | ) |
| Administrative expenses(a) | |
| (83,068 | ) | |
| (12,042 | ) | |
| (123,881 | ) |
| Selling expenses(a) | |
| (22,681 | ) | |
| (3,288 | ) | |
| (13,931 | ) |
| Other net income | |
| 11,632 | | |
| 1,686 | | |
| 2,684 | |
| Impairment loss on receivables and contract assets | |
| (13,138 | ) | |
| (1,905 | ) | |
| (723 | ) |
| Operating loss | |
| (430,976 | ) | |
| (62,478 | ) | |
| (436,213 | ) |
| | |
| | | |
| | | |
| | |
| Net foreign exchange (loss)/gain | |
| (10,835 | ) | |
| (1,571 | ) | |
| 4,072 | |
| Interest income | |
| 53,904 | | |
| 7,814 | | |
| 39,746 | |
| Fair value changes of financial assets at FVTPL | |
| 1,212 | | |
| 176 | | |
| 9,183 | |
| Other finance costs | |
| (2,301 | ) | |
| (334 | ) | |
| (1,419 | ) |
| | |
| | | |
| | | |
| | |
| Loss before taxation | |
| (388,996 | ) | |
| (56,393 | ) | |
| (384,631 | ) |
| | |
| | | |
| | | |
| | |
| Income tax | |
| (89 | ) | |
| (13 | ) | |
| (441 | ) |
| | |
| | | |
| | | |
| | |
| Loss for the period | |
| (389,085 | ) | |
| (56,406 | ) | |
| (385,072 | ) |
| | |
| | | |
| | | |
| | |
Loss
attributable to ordinary shareholders of the Company | |
| (389,085 | ) | |
| (56,406 | ) | |
| (385,072 | ) |
| | |
| | | |
| | | |
| | |
| Loss per ordinary share | |
| | | |
| | | |
| | |
| Basic and diluted loss per Class A and Class B ordinary share | |
| (0.38 | ) | |
| (0.06 | ) | |
| (0.46 | ) |
| | |
| | | |
| | | |
| | |
| Loss per ADS | |
| | | |
| | | |
| | |
| Basic and diluted loss per ADS | |
| (1.14 | ) | |
| (0.18 | ) | |
| (1.38 | ) |
Note:
(a) Includes
share-based compensation expenses as follows:
| | |
Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
| RMB’000 | | |
| US$’000 | | |
| RMB’000 | |
| Research and development expenses | |
| (41,054 | ) | |
| (5,952 | ) | |
| (47,723 | ) |
| Administrative expenses | |
| (22,074 | ) | |
| (3,200 | ) | |
| (49,993 | ) |
| Selling expenses | |
| (991 | ) | |
| (144 | ) | |
| (1,948 | ) |
| | |
| | | |
| | | |
| | |
Total
share-based compensation expenses | |
| (64,119 | ) | |
| (9,296 | ) | |
| (99,664 | ) |
WeRide Inc.
Reconciliation of IFRS Measure
to Non-IFRS Measure
The table below sets forth a reconciliation of net
loss to non-IFRS net loss for the periods indicated:
| | |
Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
| RMB’000 | | |
| US$’000 | | |
| RMB’000 | |
| Loss for the period | |
| (389,085 | ) | |
| (56,406 | ) | |
| (385,072 | ) |
| Add: | |
| | | |
| | | |
| | |
| Share-based compensation expenses | |
| 64,119 | | |
| 9,296 | | |
| 99,664 | |
| Fair value changes of financial assets at FVTPL | |
| (1,212 | ) | |
| (176 | ) | |
| (9,183 | ) |
| | |
| | | |
| | | |
| | |
| Adjusted net loss | |
| (326,178 | ) | |
| (47,286 | ) | |
| (294,591 | ) |
