On November 6th, Little Horse Intelligence (02026.HK) and Wenyu Knowledge Technologies (00800.HK) officially commenced trading on the Hong Kong Stock Exchange, vying for the title of First Hong Kong Listed Robotaxi Company. The commercialisation of L

In this Hong Kong IPO, Pony.ai issued about 48.25 million shares in total, with each share priced at HK$139. With the green shoe option, the amount raised could reach HK$7.7 billion, making it the largest IPO in the global autonomous driving industry

Wenyuanshi Technology's total shares available for global sale (before the green shoe mechanism) are 88.25 million shares. After triggering the back-allocation mechanism, the public offering shares are 17.65 million shares, with 70.6 million shares a

As of press time, the stock price of Pony.ai is HK$121.6 per share, with a total market value of US$42.86 billion; the stock price of Wenyu Tech is HK$23.26 per share, with a total market value of HK$22.6 billion.

From the perspective of business scope, Pony.ai's core business covers three major sectors: autonomous driving transportation services (Robotaxi), autonomous driving truck services (Robotruck), and technology authorization and application services. C

Commercialization is seen as the Sword of Damocles hanging over the head of every autonomous driving company, the ultimate key to their sustainable survival and development. How have the two companies progressed in terms of their fleet size and reven

Peng Jun, the founder and CEO of Pony.ai, confidently stated that 'Pony.ai is on the eve of large-scale commercialization of autonomous driving.'

In the first half of 2025, the company's revenue reached $35.43 million (approximately RMB 254 million), a year-on-year increase of 43.3%. During the same period, research and development expenditure increased by 64.4%. In terms of operational perfor

In April 2025, three seventh-generation Robotaxi models jointly developed by Xiaoma Zhixing were officially unveiled. Among them, the Robotaxi model based on the seventh-generation Polar Fox Alpha T5 and Ian Tyrannosaurus rex has recently been offici

Wen Yuansong has revealed that its L4 level autonomous driving fleet exceeds 1,500 vehicles, with over 700 being Robotaxis. The company is operating the largest commercial Robotaxi fleet outside China and the United States with Uber in the Middle Eas

The company achieved revenue of 200 million yuan in the first half of 2025, with a year-on-year growth of 32.8%. In particular, Robotaxi business revenue surged 836.7% to 45.9 million yuan in the second quarter. However, its growth mainly relied on t

Both companies have accelerated their commercialization, yet they are still in a loss. As of the first half of 2025, Pony.ai has suffered from a cumulative net loss of about 4.58 billion yuan over the past three and a half years, while the cumulative

Currently, the Hong Kong stock market has become an important gathering place for smart driving companies. Many smart driving related companies have gone public in Hong Kong, including Sagitar Juchuang in the laser radar field, smart driving chip com

Zhang Xiang, Secretary General of the International Smart Logistics Technology Association and guest professor at Huanghe Technology College, stated in an interview with the Kechuangban Daily that this wave of listing surge will profoundly impact the

When discussing the focus of industry competition in the next 3-5 years, Zhang Xiang believes that in the context of the promotion of 'smart driving equal rights' and the accelerated replacement of domestic chips, technology, cost, and commercializat

For enterprises in the fierce competition, the breakthrough of Robotaxi technology bottleneck and its commercialization are just the starting point. Ahead of them are enormous and complex challenges in legal and supporting system. How to define the a

Ringing the bell for listing is just the prologue of a long business saga.