On November 6, domestic autonomous driving companies Xiaoma Zhixing (02026.HK) and Wenyuan Zhixing (00800.HK) were officially listed on the Hong Kong Stock Exchange and jointly listed on the Hong Kong stock market. This listing marks that both compan

Looking back at their capitalization process, Pony.ai and Wenyuanchao Technology have gone public in the United States in 2024. Among them, Wenyuanchao Technology was the first to be listed on the Nasdaq on October 25 of that year, followed by Pony.a

According to the listing announcement, the issuance price of the Hong Kong stock for WayonTech is HK$27.10 per share, with a total fundraising amount (before the green shoe mechanism) of HK$2.39 billion. The issuance price for Pony Tech is HK$139 per

As of 11:17 AM on November 6, the stock price of Wen Far Technology was reported at HK$23.50, which was a 13.28% decrease from the offering price. Meanwhile, the stock price of Pony AI was reported at HK$120.30.

In response to the stock price fluctuation on its first day of listing, the founders of Pony.ai and Wenyuangao Technology respectively expressed their views. Pony.ai's CEO Peng Jun told reporters, The company's secondary listing price in Hong Kong st

Han Xu, the founder and CEO of Wenyuanknows, responded to market fluctuations from a longer-term perspective. He believes that stock price fluctuations are normal and uses Tesla as an example to illustrate that enterprise development needs time to be

Revenue increases significantly, while Robotaxi business is still in its investment phase

Public information shows that Pony.ai was founded in 2016 and currently has a fleet of over 750 Robotaxis covering Beijing, Shanghai, Guangzhou, Shenzhen, and other cities. It plans to expand its fleet to thousands by the end of the year. WeRide was

The prospectus shows that by 2024, the revenue from the sale of Robotaxi and related services will reach 6.677 million US dollars, accounting for 13.2% of the total revenue. As of the first half of this year, this revenue has reached 8.659 million US

Regarding Pony.ai, in 2024, the revenue from autonomous driving services was a total of 7.266 million US dollars, accounting for 9.4% of the total revenue. In the first half of this year, this revenue was 3.256 million US dollars, accounting for 9.2%

Besides Robotaxi-related business, the two companies have slightly different focuses. For example, Pony.ai last year had far more revenue from its autonomous truck services than Robotaxi, with the autonomous truck revenue reaching $40.365 million, ac

In the field of commercial vehicles, Wenfar Advanced Technology focuses on small buses and driverless cleaning vehicles. By 2024, the revenue of the small bus segment will be 11.124 million US dollars, and by the first half of 2025, the revenue will

In addition, the income generated from technology authorization services accounts for between 30% to 40% for both companies.

The reporter noted that Pony.ai previously planned to achieve profitability between 2028 and 2029. In response, Peng Jun told the reporters on the day of the listing that with the company's successful listing on the Hong Kong Stock Exchange, the real

Peng Jun said that the company's current products have reached the "standard" status in terms of safety, technical maturity, usability and comfort. At this stage, the core task has shifted from technical verification to "large-scale" expansion. "In t

Market pattern is yet to be determined, and the Robotaxi racecourse is ushering in a new wave of competition

Currently, the Robotaxi industry is at a critical stage driven by both capitalization and commercialization. Southwest Securities predicts that the Robotaxi market in China and globally will reach 488.8 billion yuan and 834.9 billion yuan respectivel

Driven by market prospects, companies in the Robotaxi field are accelerating their listings on capital markets. For example, in June this year, Caocao Chuxing successfully went public on the Hong Kong Stock Exchange, clearly stating that the funds ra

Industry analysis suggests that the widespread deployment of Robotaxi this year is primarily driven by two key factors: Firstly, the fully validated autonomous driving algorithms in complex Chinese road conditions, and the feasibility of business mod

According to GF Securities, the total cost of single-vehicle sensors and computing units has been compressed from an early million-yuan level to the range of RMB 200,000 to 300,000. Previously, Zhang Ning, the vice president of Pony AI and head of it

The Robotaxi industry is currently experiencing a new wave of competition. In addition to the companies dedicated to Robotaxi, autonomous driving providers and automakers have also accelerated their layouts, pushing the industry into a diversified co

Industry analysis believes that the current Robotaxi is still in its investment phase, and the market structure is far from settled. However, in the face of increasingly complex competition, how to persist until the true outbreak of the Robotaxi mark

Han Xu said that the reason for choosing to list on the Hong Kong Stock Exchange is to leverage the support of the Hong Kong stock market for the company's globalization strategy. The funds raised from this listing will be invested primarily in four