Sky9 Capital Portfolio WeRide Listed on Nasdaq

On October 25, Eastern Time, WeRide, a leading global autonomous driving company, was officially listed on the Nasdaq Stock Exchange under the ticker symbol “WRD.” Upon listing, WeRide became the world’s first publicly listed universal autonomous driving technology company and the first publicly listed Robotaxi company. The initial public offering price was set at $15.50 per American depositary share (ADS). The stock traded as high as $19.14 early in the Friday session, up 23% from the IPO price, before settling down to finally close up 6.8%, as the company raised $440.5 million in one of the biggest New York IPOs by a Chinese company this year.

Tony Han, Founder and CEO of WeRide, stated: “Seven years of perseverance have led to WeRide’s new journey today. We are deeply grateful to our investors, clients, employees, and all our partners for their trust and support. Together, we have achieved this important milestone. For us, going public is a new beginning, and WeRide will continue to drive technological innovation, delivering safe, comfortable, and convenient autonomous driving products and services to more countries and regions.”

WeRide is committed to ” transform urban living with autonomous driving”,providing autonomous driving solutions ranging from Level 2 to Level 4. The company has developed a comprehensive portfolio, including Robotaxi, Robobus, Robovan, Robosweeper, and advanced driver-assistance system (ADAS), with application scenarios spanning smart mobility, smart logistics, and smart sanitation.

Today, WeRide is the only technology company worldwide simultaneously holding autonomous driving licenses in China, the UAE, Singapore, and the U.S. It has conducted autonomous driving R&D, testing, and operations across 30 cities in seven countries, with over 1,700 days of operation. In Fortune’s 2023 Change the World list, WeRide ranked eighth, being the only Chinese technology company to break into the top ten.

Ron Cao, Sky9 Capital’s Founding Partner, stated: “Congratulations to WeRide on its Nasdaq listing! This is not only an important milestone in the company’s development but also a historic moment for China’s autonomous driving industry. WeRide has gained wide market recognition for its exceptional technological innovation, strong team execution, and deep insights into future mobility. As investors, we are delighted to witness WeRide’s multiple products in mobility, logistics, and sanitation scenariosentering more cities and countries, creating convenient experiences for an increasingly broad marketplace and contributing advanced productivity. We look forward to WeRide continuing to lead industry innovation and bringing us a smarter, safer, and more sustainable future of mobility!”

Seven Years of Hard Work: Injecting New Vitality into the Global Autonomous Driving Industry

WeRide was founded by Dr. Xu Han in 2017. He graduated from the University of Illinois with a degree in Computer Engineering and served as a doctoral advisor and tenured professor at the University of Missouri, possessing deep research strength and leadership experience in the autonomous driving industry. Co-founder and CTO Dr. Yan Li graduated from Carnegie Mellon University with a degree in Electrical and Computer Engineering and has held core engineering positions at Facebook and Microsoft, making him a top expert in computer vision.

After seven years of hard work, Dr. Xu Han has led WeRide to grow into a leading autonomous driving company with over 2,200 employees globally. With a diversified commercialization strategy of “1 platform + 3 scenarios + 5 products”, WeRide has established strategic partnerships with several top global OEMs and Tier 1 suppliers, including the Renault-Nissan-Mitsubishi Alliance, Yutong Group, Bosch, and GAC Group.

Not long before this IPO, on October 15, WeRide officially launched its next-generation mass-produced Robotaxi — the GXR. Through innovative designs like removing the front passenger seat, hidden B-pillars, and a dedicated luggage space, it has become the Robotaxi model with “the most space” to date. As a truly public-facing mass-produced Robotaxi, the GXR is about to launch its public operation mode.

Looking Ahead to the Future of Mobility: Sky9 Capital’s Comprehensive Investment in the Advanced Intelligent Driving Industry Chain

With the acceleration of global sustainability and urbanization, the transformation of traditional transportation methods is imminent, and future mobility will profoundly impact the development of human productivity. As an important investor in WeRide’sC-round financing, Sky9 Capital has not only witnessed the rapid growth of this autonomous driving technology company but has also engaged in a broader layout around the future mobility theme, supporting a series of innovative companies from core technologies to industrial applications.

At the computational level, Sky9 Capital has invested in general GPU R&D company, Biren Technology, smart CPU developer, Cixin Technology, and advanced intelligent driving chip company, Huixi Intelligent. At the software level, it has invested in the digital twin platform, 51WORLD, which can be applied for intelligent driving simulation testing. At the terminal level, it has invested in the next-generation vehicle company, Rox Motor.

From WeRide’s success to the rise of more and more advanced intelligent driving companies, the potential and vitality of the future mobility value chain have already emerged. Sky9 Capital will continue to leverage capital, resources, and talents to support innovative teams, deepen industry cooperation, and collectively promote the arrival of a global intelligent mobility era.