Q1 2025 WeRide Inc Earnings Call Transcript
Key Points
- WeRide Inc (WRD) expanded its partnership with Uber, securing an additional $100 million in equity investment and committing to providing global taxi services in 15 additional cities.
- The company launched the first driverless robotaxi testing in Abu Dhabi, marking a significant milestone in the Middle East.
- WeRide Inc (WRD) expanded its autonomous mobility operations in China, launching the country's first 24/7 autonomous ride-hailing network in Guangzhou.
- The company achieved a record high in Robotaxi revenue, contributing 22.3% to the group's total revenue, up from 11.9% the previous year.
- WeRide Inc (WRD) maintains a strong safety record with no accidents attributed to its autonomous driving systems over 2000 days of operation.
- Total revenue for the first quarter of 2025 increased by only 1.8%, indicating slower overall growth.
- Service revenue experienced a decline due to the completion of a customized R&D project, impacting overall revenue.
- Operating expenses rose by 14.2%, driven by a significant increase in personnel-related expenses.
- The net loss increased by 108.2% on a non-IFRS basis, primarily due to continuous investment in R&D.
- The company faces growing competition in the autonomous driving industry, particularly from aggressive OEMs entering the Robotaxi business.
Good morning and good evening, ladies and gentlemen.
Thank you for standing by and welcome to WeRide's first quarter 2025 earnings conference call. (Operator Instructions)
Joining us today are WeRide's Founder, Chairman, and CEO Doctor Tony Han; and CFO Ms. Jennifer Li.
Before we continue, I'd like to refer you to the Safe Harbor statement and the company's earnings press release, which also applies to this call as today's call will include forward-looking statements, including rewrite strategies and future plans.
These forward-looking statements are made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risk and uncertainties.
The company's actual results could differ materially from those stated or implied by these forward-looking statements, as a result of various important factors, and please refer to the risk factor section of the company's Form 20-F, filed with the FEC for full disclosure of these risk factors.
The company does not assume any obligation to
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