WeRide-W Shares Surge Over 5% in Morning Session on Back of Major Strategic Partnerships

Stock News05-12 10:39

WeRide-W (00800) saw its shares rise more than 5% during the morning trading session. As of the time of writing, the stock was up 5% to HK$21, with a turnover of HK$22.8773 million. The movement follows recent news of the company securing two significant strategic partnerships. WeRide has entered into a global strategic collaboration with Lenovo, with plans to deploy 200,000 autonomous vehicles, including Robotaxis, worldwide over the next five years. Additionally, the company has formed a strategic "chip + algorithm" partnership with SiEngine Technology to accelerate the large-scale implementation of advanced driver-assistance solutions. In a previous research note, China Securities Co., Ltd. stated that WeRide is a globally leading Level 4 autonomous driving technology company, with operations spanning over 40 cities across 12 countries. The company aims to deploy 2,600 Robotaxis globally by the end of 2026. WeRide's board has authorized a $100 million share repurchase program, demonstrating management's confidence in the company's long-term value. The brokerage maintains a "Buy" rating on the stock.

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