WeRide Inc.
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Yellow, because the business works in principle but the decisive operating question is open: whether $122 million of annual revenue can grow enough to carry development costs that ran to RMB 797.7 million in a single half-year before the cash pile thins out noticeably. The gap is documented — a 2025 loss of 2.4 times annual revenue, operating cash outflow more than doubled to RMB 1,321.7 million, and receivables older than two years that WeRide itself writes down by 68.2 percent. Red would still be wrong: as of June 30, 2026 there were RMB 5.4 billion of liquid assets against RMB 1.36 billion of total liabilities and RMB 6.4 billion of equity, interest-bearing debt is RMB 485.0 million at a little over two percent, and no filing contains a going-concern warning. Green is ruled out by the unproven earning power — and by the dependence on a related party for the map licence. That the stock costs about 16 times annual revenue is a price argument and changes nothing here. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
WeRide describes itself as the world's first publicly traded robotaxi company and it is growing fast: revenue up 89.6 percent in 2025 to RMB 684.6 million and up 82.2 percent in the second quarter of 2026. The numbers behind the story are smaller than the story suggests — the largest single line in 2025 was the robobus at RMB 231.5 million, the robotaxi ranked only third at RMB 148.0 million, and the report calls revenue from the company's own rides insignificant. The loss fell to RMB 1,654.9 million in 2025 while operating cash outflow rose to RMB 1,321.7 million, and the liquid position shrank 24.3 percent to RMB 5.4 billion during the first half of 2026. Add ageing receivables, a map license that belongs not to WeRide but to the supplier Guangzhou Yuji — in which a sibling of the chief executive holds substantial voting power, while the chief executive himself holds neither capital nor voting rights there — and a dilution overhang of about 20.3 percent from employee plans. Not investment advice.
Growth
Revenue rose 89.6 percent in 2025 to RMB 684.6 million, 82.2 percent in the second quarter of 2026 to RMB 231.7 million and 73.3 percent in the first half of 2026 to RMB 345.9 million. Overseas revenue grew from RMB 49.4 million to RMB 199.8 million in 2025. Gross margin improved to 37.5 percent in the second quarter of 2026 from 28.1 percent a year earlier.
Result and cash burn
The Form 20-F for 2025 states that WeRide has not been profitable since inception. The 2025 loss of RMB 1,654.9 million was 2.4 times revenue. Operating cash outflow rose from RMB 593.6 million in 2024 to RMB 1,321.7 million in 2025, because the smaller loss came mainly from lower share-based compensation while receivables and inventories together increased by RMB 421.4 million.
Balance sheet and funding
As of June 30, 2026 the company held RMB 5.4 billion ($795.6 million) of liquid assets against RMB 1,360.1 million of total liabilities and RMB 6,395.3 million of equity. Only RMB 485.0 million of short-term bank loans at 2.11 to 2.21 percent bear interest. On the 2025 burn rate that funds a little over three years; at the pace of the first half of 2026 (down 24.3 percent) under two.
Quality of revenue
Of RMB 602.1 million of credit exposure as of December 31, 2025, RMB 96.8 million was more than two years old and carried a 68.2 percent expected loss rate (prior year 43.6 percent) — on stated payment terms of 30 to 90 days. At the same time the robotaxi that gives the company its name delivered only RMB 148.0 million of the RMB 684.6 million of 2025 revenue, and 75.2 percent of the workforce was in labour-intensive data processing as of June 30, 2026.
Governance and capital structure
The surveying licence for high-definition maps sits with Guangzhou Yuji, in which a sibling of the chief executive holds a substantial voting interest according to the annual report (RMB 66.8 million of services in 2025, agreement to December 31, 2027). According to the annual report, neither the chief executive nor WeRide itself holds any capital or voting rights in Guangzhou Yuji, and Guangzhou Yuji is not a shareholder of WeRide; the volume fell from RMB 111.5 million in 2023 to RMB 90.1 million in 2024 and RMB 66.8 million in 2025, approved by an audit committee of three independent directors. The chief executive holds 27.5 percent of the votes on 6.7 percent of the capital and also chairs the board. Employee plans can create 200.2 million ordinary shares — about 20.3 percent of the base as of July 31, 2026.
Worth Noting
WeRide reached our research list through our in-house Reddit hype scanner (flagged on August 21, 2026). Forum attention is a reason to read, not an argument; this analysis rests entirely on the filings with the U.S. securities regulator, the SEC.
Mind the currency and the reporting regime: WeRide prepares its accounts under IFRS in renminbi but trades in dollars. Every operating figure here is stated in renminbi; where a conversion is used, it is the company's own rate of RMB 6.7851 per dollar as of June 30, 2026. As a foreign private issuer WeRide files no Form 10-K and no Form 10-Q, but an annual report on Form 20-F and interim filings on Form 6-K — quarterly figures are therefore voluntary.
One ADS represents three Class A ordinary shares, so per-share figures from price portals and from the filings are not directly comparable. WeRide should also not be confused with the same company's Hong Kong listing (stock code 0800) or with the over-the-counter symbol WRDIF.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at WRD since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 5.30 $ to 12.40 $ · Last price: 5.50 $ (As of: September 28, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/29/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Application
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| WeRide Inc. WRD | 1.8 | – | 0.0 | 32.8 | -377.6 | 84.4 | -45.7 |
| Salesforce.com Inc CRM | 182.2 | 22.6 | 13.6 | 77.3 | 21.8 | 9.6 | -5.9 |
| Uber Technologies Inc UBER | 138.8 | 18.2 | 19.2 | 40.8 | 14.6 | 18.3 | -30.8 |
| ServiceNow Inc NOW | 131.5 | 78.2 | 41.6 | 74.8 | 13.3 | 20.9 | -29.8 |
| Snowflake Inc. SNOW | 111.8 | – | -76.6 | 67.0 | -22.2 | 29.2 | 46.1 |
| Automatic Data Processing Inc ADP | 104.7 | 24.1 | 16.0 | 48.7 | 30.2 | 7.1 | -7.6 |
| Datadog Inc DDOG | 96.0 | 719.3 | 302.3 | 79.5 | 0.8 | 27.7 | 93.2 |
| Adobe Systems Incorporated ADBE | 90.6 | 13.1 | 9.3 | 89.3 | 35.3 | 10.5 | -35.9 |
| Cadence Design Systems Inc CDNS | 90.1 | 75.0 | 37.2 | 85.9 | 29.7 | 14.1 | -6.7 |
| Median of companies shown | 104.7 | 24.1 | 16.0 | 74.8 | 14.6 | 18.3 | -7.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year CNY m
Revenue Operating income Net income
| Fiscal Year | Revenue (CNY m) | EBIT (CNY m) | Net Income (CNY m) | EPS (CNY) | Operating Cash Flow (CNY m) | Equity (CNY m) | Total Assets (CNY m) |
|---|---|---|---|---|---|---|---|
| 2014 | 45 | -19 | -14 | -0.16 | 26 | 179 | 336 |
| 2015 | 36 | -28 | -30 | -0.33 | 25 | 274 | 428 |
| 2016 | 127 | -16 | -47 | -0.50 | 22 | 1,008 | 1,442 |
| 2017 | 427 | 105 | 50 | 0.52 | 277 | 1,145 | 2,778 |
| 2020 | 18 | -464 | -695 | -2.56 | -214 | – | – |
| 2021 | 138 | -501 | -1,007 | -3.74 | -507 | -965 | 3,307 |
| 2022 | 528 | -779 | -1,299 | -4.84 | -670 | -2,082 | 5,385 |
| 2023 | 402 | -1,566 | -1,949 | -7.27 | -475 | -3,052 | 5,614 |
| 2024 | 361 | -2,185 | -2,517 | -9.14 | -594 | 7,066 | 7,694 |
| 2025 | 685 | -1,823 | -1,655 | -5.37 | -1,322 | 7,905 | 8,942 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales (CNY m) | Sales YoY (%) | Net Margin (%) | OCF (CNY m) | FCF (CNY m) |
|---|---|---|---|---|---|---|---|
| 2018: Q3 | – | – | 260 | 111.90 | 4.40 | 156 | -156 |
| 2024: Q3 | – | – | 70 | -5.70 | -1,489.20 | – | – |
| 2024: Q4 | -0.81 | – | 141 | -2.70 | -420.70 | – | – |
| 2025: Q1 | -0.06 | – | 72 | 1.80 | -531.60 | – | – |
| 2025: Q2 | -1.35 | – | 127 | 60.70 | -319.60 | – | – |
| 2025: Q3 | -0.15 | – | 171 | 144.20 | -178.80 | – | – |
| 2025: Q4 | -0.57 | 29.60 | 310 | 119.90 | -177.10 | – | – |
| 2026: Q1 | -1.14 | -1,800.00 | 113 | 56.60 | -340.90 | – | – |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 4 of our scanner strategies — each hit links to the scanner.
Breakout & Setup
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate (CNY) | EPS Range (CNY) | Revenue Estimate (CNY m) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -4.54 | -6.01 – -3.32 | 1,073 | 15.7% | 5 |
| 12/31/2027 | -3.50 | -4.09 – -2.91 | 2,059 | 23.0% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
AI classification
AI Rating
WeRide verkauft autonomes Fahren als Produkt: Die eigene Software-Plattform WeRide One, das Weltmodell WeRide GENESIS (physische und generative KI) und seit Juli 2026 das Basismodell WeRide WITT sind das Erzeugnis, nicht ein Hilfsmittel — der gesamte Umsatz von 684,6 Mio. RMB (2025) stammt aus dem Verkauf autonomer Fahrzeuge, ADAS-Entwicklung und Datendiensten.
View the full file — quotes, sources, reviewed filings
„AI is integrated into our technologies, such as WeRide GENESIS, a general-purpose simulation platform that combines physical AI and generative AI to generate photorealistic virtual driving environments."
KI ist in unsere Technologien integriert, etwa in WeRide GENESIS, eine Universal-Simulationsplattform, die physische KI und generative KI verbindet, um fotorealistische virtuelle Fahrumgebungen zu erzeugen.
20-F · 2026-04-23 · View SEC filing
„WeRide GENESIS bridges physical AI and generative AI through a proprietary, general-purpose simulation world model, enabling autonomous vehicles to undergo large-scale training and validation in simulation."
WeRide GENESIS verbindet physische KI und generative KI über ein eigenentwickeltes Universal-Simulations-Weltmodell und ermöglicht damit, autonome Fahrzeuge im großen Maßstab in der Simulation zu trainieren und zu validieren.
20-F · 2026-04-23 · View SEC filing
„In July 2026, we officially introduced WeRide WITT (World Intelligence Toward Truth), which continuously extracts fundamental principles that govern the physical world from vast volumes of operational data, transforming real-world experience into structured knowledge through fact extraction, fact reasoning, fact verification and fact curation."
Im Juli 2026 haben wir offiziell WeRide WITT (World Intelligence Toward Truth) vorgestellt. Das Modell leitet aus riesigen Mengen an Betriebsdaten fortlaufend Grundprinzipien der physischen Welt ab und verwandelt reale Erfahrung über Faktenextraktion, Faktenschlussfolgerung, Faktenprüfung und Faktenkuratierung in strukturiertes Wissen.
6-K · 2026-08-12 · View SEC filing
Filings Reviewed: 20-F 2026-04-23 · 6-K 2026-08-12 · 6-K 2026-08-12 · 6-K 2026-08-06 · 6-K 2026-07-13 · 20-F 2025-03-25
Rated on August 21, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 9.1%
- More than 10% revenue growth is expected for the coming year -58.0%
- Share count grows by less than 3% a year 4.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -139.8%
- Gross margin at 40% or higher and without meaningful erosion 30.2%
- Goodwill from acquisitions does not grow faster than revenue 0.5%
- Net debt below twice EBITDA 6,750 m net cash
- Operating cash flow covers the profits of the last three years 3,731 m
- Return on capital at 15% or higher, or up versus two years ago -23.0%
- Insiders hold at least 10% or are net buyers 9.2%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 28.0%
- Exp. sales growth 3Y > 5% 73.4%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 73.4%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight –
- Max. EBIT decline < 50% –
- Return on equity > 15% -21.1%
- ROCE > 15% -23.0%
- Expected return > 10% 51.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 23, 2026 | Zhong Hua | Senior Vice President | Other | 493,434 | 0.00 | – |
| Sep 23, 2026 | Li Jennifer Xuan | CFO and Head of International | Other | 4,662,342 | 0.00 | – |
| Sep 23, 2026 | Li Yan | Chief Technology Officer | Other | 493,434 | 0.00 | – |
| Sep 23, 2026 | Han Tony Xu | Chairman and CEO | Other | 493,434 | 0.00 | – |
The company
About the Company
WeRide Inc. ist eine Investmentholding, die autonome Fahrprodukte und -lösungen für die Bereiche Mobilität, Logistik und Reinigung in der Volksrepublik China und Europa anbietet. Zu den Produktkategorien zählen Robotaxis, Robobusse, Robovans und Robosweeper. Das Unternehmen bietet außerdem Lösungen für fortschrittliche Fahrerassistenzsysteme, intelligente Datendienste sowie die WeRide-Go-App, eine Online-Mitfahrplattform. Es unterhält eine strategische Allianz mit ELEVATE Slovakia zur Einführung von Programmen für autonomes Fahren in der Slowakei. WeRide Inc. wurde 2017 gegründet und hat seinen Hauptsitz in Guangzhou, Volksrepublik China.
- Employees
- 3,661
- Headquarters
- Guangzhou, China
- Address
- Tower A, Guanzhou Life Science Innovation Center, 510005 Guangzhou, China
- Phone
- 86 20 2909 3388
- Website
- weride.ai
- IPO Date
- 10/25/2024
- ISIN
- US9509151083
Management
| Name | Title | Birth Year |
|---|---|---|
| Xu Han | Founder, Chairman & CEO | 1977 |
| Yan Li | Co-Founder, Executive Director & CTO | 1976 |
| Xuan Li | CFO & Head of International | 1990 |
| Hua Zhong | Senior Vice President | 1976 |
| Liang Wang | Joint Company Secretary | – |
| Anne Yu | Joint Company Secretary | – |
| Qingxiong Yang | Vice President | 1983 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Data as of: September 28, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.