WeRide Inc. Q1 FY2025 earnings call

• Expanded partnership with Uber, committing to providing Robotaxi service in 15 additional cities and accepting $100 million equity investment. • Launched first driverless Robotaxi testing in Abu Dhabi, first in the Middle East. • Rolled out China's first autonomous mobility service in Guangzhou's central area. • Expanded Robobus in Guangzhou, making it part of daily life. • Partnered with QNX to enhance ADAS solution safety. • Utilizes WeRide One autonomous driving technology platform with adaptability across various environments.

Total revenue for the first quarter of 2025 increased 1.8% to RMB72.4 million. RoboTaxi revenue was RMB16.1 million, contributing 22.3% to group revenue. Product revenue increased by 46.7% to RMB9.5 million. Operating expenses rose 14.2% to RMB463.5 million, driven by personnel-related expenses and R&D. Net loss decreased by 17.7% to RMB385.1 million in the first quarter of 2025.

• Plan to expand RoboTaxi to 15 global cities with Uber over five years, phased rollout. • Board authorized share repurchase program of up to RMB100 million. • Confidence in building on first quarter success and turning global opportunities into long-term value.

Q: Why did WeRide and Uber expand their partnership?

A: It builds on a proven model, combines WeRide’s tech and expertise with Uber's marketplace reach, shares mission to make autonomous mobility affordable, and leverages shared values.

Q: What regions are focus for RoboTaxi rollout?

A: Currently focusing on Europe and Mideast, phased approach with regulatory approval, testing, commercial operation, and scale deployment.

Q: Share RoboTaxi economics and cost structure?

A: RoboTaxi reduces driver cost to nearly nothing, leverages EV supply chain, OEM collaborations, and sensor modular design, expected to be 50% or more cost-effective than traditional services.

Q: Details on Guangzhou City Center RoboTaxi rollout?

A: Launched China's first 24/7 autonomous ride-hailing network with eight routes connecting landmarks, having operated in Guangzhou since 2019 for over 2,000 days, a significant milestone in the industry.