Operational and Financial Highlights
- Sustained rapid revenue growth. 2Q2026 total revenue increased by 82.2% year over year (YoY) and 103.1% quarter over quarter (QoQ), and 1H2026 total revenue increased by 73.3% YoY. 2Q2026 overseas revenue increased by 164.4% YoY and 169.3% QoQ, and 1H2026 total overseas revenue increased by 154.4% YoY.
- Continuous fleet expansion. As of
July 31, 2026 , our global L4 fleet comprised approximately 3,400 vehicles, including more than 1,800 robotaxis. - Improved domestic robotaxi operational metrics. In 2Q2026, average daily rides per vehicle increased by 24% QoQ to over 21 rides, with peak daily completed rides per vehicle reaching 28. In 2Q2026, registered users of WeRide robotaxi service saw QoQ growth of 35%, with quarterly ride-hailing revenue increasing by approximately 140% QoQ.
- Progressive rollout of overseas asset-light strategy. We accelerated our overseas robotaxi expansion, particularly in
Spain ,Switzerland ,Denmark ,UAE andSingapore . As of the date of this announcement, our autonomous driving businesses have been expanded to more than 60 cities across 13 countries.
L4 Business Update
Robotaxi -
- First Robotaxi Market Entry into
Spain . WeRide and Uber announced plans to launch Spain’s first commercial robotaxi pilot in the Region ofMadrid , marking the companies’ fourth joint deployment globally and the first joint entry into the European market. The service is expected to begin operations later this year, in collaboration with Madrid’s Regional Government (Comunidad deMadrid ). - Expanding Robotaxi Partnership and Deployment in
Zurich, Switzerland . We are working with Uber to advance the deployment of robotaxi services in theGreater Zurich Region , marking the parties’ fifth joint deployment globally and second joint deployment inEurope . Prior to this, we have launched robotaxi services inZurich in collaboration withSwiss Federal Railways (Schweizerische Bundesbahnen, “SBB”),Swiss Transit Lab and ioki, a well-known European provider of on-demand mobility services. InNovember 2025 , our robotaxi secured the first driverless robotaxi operational permit inEurope from Switzerland’s Federal Roads Office (“FEDRO”), authorizing it to operate autonomously on public roads inZurich . - First Autonomous Mobility Program in
Denmark . We announced a strategic partnership with GreenMobility, aDenmark -based shared electric mobility provider, to jointly develop commercial autonomous mobility service inDenmark . This marks the sixth European market for us and our first entry into the Nordic region. The companies aim to launch public services in 1H2027. - Scaling Our Operational Footprint in the
Middle East . Building on our achievement of fully driverless robotaxi operations inAbu Dhabi andDubai , our overall approved service area covers more than 70% of the core urban area in the city. Our commercial deployment in theMiddle East has entered a positive cycle and continues to support a scalable local robotaxi ecosystem. As ofJuly 31, 2026 , our robotaxi fleet in theMiddle East reached approximately 400 vehicles.
Robotaxi - China Operations
- Enhanced Operational Efficiency of Our Domestic Robotaxi Fleet. Fleet utilization and per-vehicle unit economics continued to improve, delivering strong performance across key operating metrics. In 2Q2026, average daily rides per vehicle increased by 24% QoQ to over 21 rides, with peak daily completed rides per vehicle reaching 28. In 2Q2026, registered users of WeRide robotaxi service saw QoQ growth of 35%. As a result, our quarterly domestic ride-hailing revenue increased by approximately 140% QoQ.
- Broader Domestic Service Coverage. In
Beijing andGuangzhou , our core operational hubs, we have continuously expanded the service area of our fully driverless robotaxi services. InGuangzhou , our service area has tripled compared with the end of 2025, now covering Huangpu,Tianhe and Haizhu districts, with commercial operations available 24/7. These operating environments present high levels of complexity, effectively demonstrating the safety and operational stability of our autonomous driving system.
Other L4 Business Lines
- Accelerating Global Robobus Rollout. Our robobuses in
Zurich are now operating without a front-seat safety operator, marking the first such deployment inEurope . Our robobuses in Leuven,Belgium , are planned to operate commercially without a front-seat safety operator in 3Q2026. This year, we also partnered with Renault Group for the third consecutive year to provide robobus shuttle services during the Roland Garros French Open. In addition, we operate robobus mobility services inJapan ,Saudi Arabia ,Singapore , and theUAE .
L4 Business Financial Performance
- In 2Q2026, revenue from L4 businesses1 was
RMB125.2 million (US$18.5 million ), representing an increase of 47.3% YoY and an increase of 130.6% QoQ.
L2++ / L3 Business Update
- L2++ / L3 Solution Entering a Phase of Rapid Growth. In 2Q2026, total deliveries of WRD 3.0, our one-stage end-to-end L2++ / L3 solution, were approximately 30,000 units. To date, we have secured L2++ production design wins for over 30 vehicle models and an L3 proof-of-concept project with Mercedes-Benz. WRD 3.0 has also begun on-road testing and localization validation in
France ,Germany ,Japan and other overseas markets. - Rapid Commercial Monetization. In 2Q2026, revenue from our L2++ / L3 business2 increased by 2,593.8% YoY and 219.3% QoQ.
Technology / Product Development
- Launch of WeRide WITT, Our Physical AI Cognitive Foundation Model. 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. Compared with general-purpose AI models that often rely on hundreds of billions of parameters, WeRide WITT delivers strong performance with a significantly more efficient architecture, reducing token costs by up to 98%, enabling up to 10,000 minutes of vehicle-operation video processing per day on a single GPU and delivering up to 200 times greater data-processing efficiency in comparable workloads, as well as helping improve AI training, evaluation and model iteration. - WeRide GENESIS, Our Proprietary World Model, Wins Two Major International Awards. In
June 2026 , WeRide GENESIS received the Simulation Innovation Award at the 2026Automotive Testing Technology International (“ATTI”) Awards and the Overall Gen-AI Solution of the Year at the 2026 AI Breakthrough Awards. WeRide GENESIS establishes a closed loop from perceiving to understanding the physical world, enabling autonomous driving systems to train, validate and iterate in large-scale, high-fidelity virtual environments. It can compress millions of kilometers of road testing into days while reducing data collection and annotation costs by more than 75%. - Launch of Right-hand-drive Robotaxis, Accelerating Global Expansion. In
June 2026 , we announced the joint development of pre-installed robotaxis specifically designed for right-hand-drive markets, as part of a strategic partnership withGeely Farizon and Kwoon Chung Bus Holdings Limited. The deployment of commercial right-hand-drive robotaxi services will begin inSingapore andHong Kong , bringing transformative autonomous mobility solutions to right-hand-drive markets worldwide.
Management Commentary
Second Quarter 2026 Financial Results
Revenue
Total revenue increased by 82.2% YoY to
Cost of Revenue
Cost of revenue was
Gross Profit and Gross Margin
Gross profit was
Operating Expenses
Operating expenses were
- R&D expenses were
RMB434.3 million (US$64.0 million ) in 2Q2026, compared withRMB318.9 million in 2Q2025. The increase was primarily due to higher personnel and outsourcing labor costs, depreciation and amortization expenses and cloud service fees. - Administrative expenses were
RMB69.0 million (US$10.2 million ) in 2Q2026, compared withRMB155.1 million in 2Q2025. The decrease was primarily due to lower share-based compensation expenses and reduced professional services fees related to our global offering and legal compliance matters. - Selling expenses were
RMB29.2 million (US$4.3 million ) in 2Q2026, compared withRMB13.8 million in 2Q2025. The increase was primarily due to higher personnel costs and increased marketing and advertising expenses.
Loss for the Period
- Loss for the period was
RMB400.7 million (US$59.1 million ) in 2Q2026, compared withRMB406.4 million in 2Q2025. - Non-IFRS adjusted loss for the period4 was
RMB338.5 million (US$49.9 million ) in 2Q2026, compared withRMB300.6 million in 2Q2025.
Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA5”)
- EBITDA was negative
RMB335.4 million (US$49.4 million ) in 2Q2026, narrowing by 8.1%, compared with negativeRMB364.8 million in 2Q2025.
Basic and Diluted Loss Per ADS6
- Basic and diluted loss per ordinary share was
RMB0.41 (US$0.06 ) in 2Q2026, compared withRMB0.45 in 2Q2025. - Basic and diluted loss per ADS was
RMB1.23 (US$0.18 ) in 2Q2026, compared withRMB1.35 in 2Q2025.
First Half of 2026 Financial Results
Revenue
Total revenue increased by 73.3% YoY to
Cost of Revenue
Cost of revenue was
Gross Profit and Gross Margin
Gross profit was
Operating Expenses
Operating expenses were
- R&D expenses were
RMB797.7 million (US$117.6 million ) in 1H2026, compared withRMB644.6 million in 1H2025. The increase was primarily due to higher personnel and outsourcing labor costs, depreciation and amortization expenses and cloud service fees. - Administrative expenses were
RMB152.1 million (US$22.4 million ) in 1H2026, compared withRMB278.9 million in 1H2025. The decrease was primarily due to lower share-based compensation expenses and reduced professional services fees related to our global offering and legal compliance matters. - Selling expenses were
RMB51.9 million (US$7.6 million ) in 1H2026, compared withRMB27.8 million in 1H 2025. The increase was primarily due to higher personnel costs and increased marketing and advertising expenses.
Loss for the Period
- Loss for the period was
RMB789.8 million (US$116.4 million ) in 1H2026, compared withRMB791.5 million in 1H2025. - Non-IFRS adjusted loss for the period was
RMB664.6 million (US$98.0 million ) in 1H2026, compared withRMB595.1 million in 1H2025.
EBITDA
- EBITDA was negative
RMB667.0 million (US$98.3 million ) in 1H2026, narrowing by 6.5% compared with negativeRMB713.3 million in 1H2025.
Basic and Diluted Loss Per ADS7
- Basic and diluted loss per ordinary share in 1H2026 was
RMB0.79 (US$0.12 ), compared withRMB0.87 in 1H2025. - Basic and diluted loss per ADS in 1H2026 was
RMB2.37 (US$0.36 ), compared withRMB2.61 in 1H2025.
Balance Sheet
- As of
June 30, 2026 , WeRide heldRMB5,374.8 million (US$792.2 million ) in cash and cash equivalents and time deposits,RMB2.3 million (US$0.3 million ) in investments in wealth management products recorded as current financial assets at FVTPL, andRMB21.4 million (US$3.2 million ) in restricted cash, for an aggregate amount ofRMB5,398.5 million (US$795.6 million ).
Exchange Rate Information
This announcement contains translations of certain Renminbi (“RMB”) amounts into
Use of Non-IFRS Financial Measures
In evaluating its business, the Company considers and uses the non-IFRS financial measures of (i) adjusted loss for the period and (ii) EBITDA as supplemental measures to review and assess operating performance. The Company believes that adjusted loss for the period and EBITDA provide useful information to investors and others in understanding and evaluating the Company’s consolidated results of operations in the same manner as it helps the Company’s management. The Company defines adjusted loss for the period as loss for the period excluding share-based compensation expenses and fair value changes of financial assets at FVTPL. The Company defines EBITDA as loss for the period excluding income tax, finance costs, depreciation and amortization expenses.
The Company presents the non-IFRS financial measures because they are used by its management to evaluate its operating performance and formulate business plans. Adjusted loss for the period enables the Company’s management to assess the Company’s operating results without considering the impact of the aforementioned non-cash adjustment items that it does not consider to be indicative of its core operations. EBITDA enables the Company’s management to assess the Company’s operating results without considering the impact of income tax, finance costs, and depreciation and amortization expenses and focus more on the operating cash items. Accordingly, the Company believes that the use of these non-IFRS financial measures provide useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.
These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. The non-IFRS financial measures have limitations as analytical tools. One of the key limitations of using the non-IFRS financial measures is that they do not reflect all items of expenses that affect the Company’s operations. Further, these non-IFRS measures may differ from the non-IFRS information used by other companies, including peer companies, and therefore the comparability may be limited.
The non-IFRS financial measures should not be considered in isolation or construed as alternatives to loss for the period or any other measure of performance information prepared and presented in accordance with IFRS or as an indicator of the Company’s operating performance. Investors are encouraged to review the Company’s historical non-IFRS financial measures in light of the most directly comparable IFRS measure, as shown below. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing the Company’s data comparatively. It is encouraged that you review the Company’s financial information in its entirety and not rely on a single financial measure.
Conference Call
The Company’s management will hold an earnings conference call at
Event Title:
Registration Link: https://register-conf.media-server.com/register/BIae5622619adf4da3b99161c402e831e8
Chinese Simultaneous Interpretation Registration Link (listen-only mode): https://register-conf.media-server.com/register/BI0c260dd324304548982b2c9490587a36
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call. A live and archived webcast of the conference call will be available at the Company’s investor relations website at https://ir.weride.ai.
About WeRide
WeRide is a global leader and a first mover in the autonomous driving industry, as well as the first publicly traded robotaxi company. Our autonomous vehicles have been tested or operated in over 60 cities across 13 countries. We are also the first and only technology company whose products have received autonomous driving permits in eight markets: China, Switzerland, the UAE, Singapore, France, Saudi Arabia, Belgium, and the U.S. Empowered by the smart, versatile, cost-effective, and highly adaptable WeRide One platform, WeRide provides autonomous driving products and services from L2 to L4, addressing transportation needs in the mobility, logistics, and sanitation industries. WeRide was named to Fortune’s 2025 Change the World and 2025 Future 50 lists.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about WeRide’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in WeRide’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and WeRide does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts
Investor inquiries: ir@weride.ai
Press inquiries: pr@weride.ai
Piacente Financial Communications
E-mail: weride@thepiacentegroup.com
| WeRide Inc. Unaudited Condensed Consolidated Statements of Financial Position | |||||
| As of | |||||
2026 | 2026 | December 31, 2025 | |||
| RMB’000 | US$’000 | RMB’000 | |||
| ASSETS Non-current assets | |||||
| Property and equipment | 573,233 | 84,484 | 378,769 | ||
| Right-of-use assets | 139,560 | 20,569 | 65,870 | ||
| Intangible assets | 16,426 | 2,421 | 17,966 | ||
| 44,758 | 6,597 | 44,758 | |||
| Restricted cash – non-current | 10,988 | 1,619 | 6,487 | ||
| Financial assets at FVTPL – non-current | 252,411 | 37,201 | 188,083 | ||
| Other non-current assets | 89,964 | 13,259 | 23,668 | ||
Total non-current assets | 1,127,340 | 166,150 | 725,601 | ||
Current assets | |||||
| Inventories | 439,112 | 64,717 | 321,021 | ||
| Contract assets | 23,964 | 3,532 | 23,305 | ||
| Trade receivables | 455,765 | 67,171 | 462,135 | ||
| Prepayments and other receivables | 303,486 | 44,729 | 269,986 | ||
| Prepayments to and amounts due from | |||||
| related parties | 18,217 | 2,685 | 9,010 | ||
| Financial assets at FVTPL – current | 2,293 | 338 | 144,252 | ||
| Time deposits | 1,099,805 | 162,091 | 301,401 | ||
| Cash and cash equivalents | 4,275,014 | 630,059 | 6,666,304 | ||
| Restricted cash – current | 10,420 | 1,536 | 12,910 | ||
Total current assets | 6,628,076 | 976,858 | 8,210,324 | ||
Total assets | 7,755,416 | 1,143,008 | 8,935,925 | ||
| EQUITY Total equity | 6,395,302 | 942,552 | 7,900,174 | ||
| WeRide Inc. Unaudited Condensed Consolidated Statements of Financial Position (Continued) | |||||
| As of | |||||
2026 | 2026 | December 31, 2025 | |||
| RMB’000 | US$’000 | RMB’000 | |||
| LIABILITIES Non-current liabilities | |||||
| Lease liabilities – non-current | 95,397 | 14,060 | 23,241 | ||
| Deferred tax liabilities | 2,991 | 441 | 3,489 | ||
| Other non-current liabilities | 24,994 | 3,684 | 7,720 | ||
Total non-current liabilities | 123,382 | 18,185 | 34,450 | ||
Current liabilities | |||||
| Short-term bank loans | 485,047 | 71,487 | 324,263 | ||
| Trade payables | 243,563 | 35,897 | 163,000 | ||
| Other payables, deposits received and accrued | |||||
| expenses | 385,088 | 56,755 | 408,357 | ||
| Contract liabilities | 48,053 | 7,082 | 28,512 | ||
| Lease liabilities – current | 35,390 | 5,216 | 31,920 | ||
| Amounts due to related parties | 7,910 | 1,166 | 1,949 | ||
| Put option liabilities | 31,681 | 4,668 | 43,300 | ||
Total current liabilities | 1,236,732 | 182,271 | 1,001,301 | ||
Total liabilities | 1,360,114 | 200,456 | 1,035,751 | ||
Total equity and liabilities | 7,755,416 | 1,143,008 | 8,935,925 | ||
| WeRide Inc. Unaudited Condensed Consolidated Statements of Profit or Loss | ||||||||||||||||||
| Six Months Ended | Three Months Ended | |||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | |||||||||||||
| Revenue | ||||||||||||||||||
| Product revenue | 112,783 | 16,622 | 69,281 | 92,322 | 13,607 | 59,781 | ||||||||||||
| Service revenue | 233,074 | 34,351 | 130,334 | 139,395 | 20,544 | 67,397 | ||||||||||||
| 345,857 | 50,973 | 199,615 | 231,717 | 34,151 | 127,178 | |||||||||||||
| Cost of revenue(b) | ||||||||||||||||||
| Cost of goods sold | (75,578 | ) | (11,139 | ) | (35,461 | ) | (62,442 | ) | (9,203 | ) | (30,699 | ) | ||||||
| Cost of services | (143,806 | ) | (21,194 | ) | (103,095 | ) | (82,406 | ) | (12,145 | ) | (60,775 | ) | ||||||
| (219,384 | ) | (32,333 | ) | (138,556 | ) | (144,848 | ) | (21,348 | ) | (91,474 | ) | |||||||
| Gross profit | 126,473 | 18,640 | 61,059 | 86,869 | 12,803 | 35,704 | ||||||||||||
| Research and development expenses(a)(b) | (797,654 | ) | (117,560 | ) | (644,635 | ) | (434,329 | ) | (64,012 | ) | (318,918 | ) | ||||||
| Selling expenses(a)(b) | (51,891 | ) | (7,648 | ) | (27,780 | ) | (29,210 | ) | (4,305 | ) | (13,849 | ) | ||||||
| Administrative expenses(a)(b) | (152,066 | ) | (22,412 | ) | (278,942 | ) | (68,998 | ) | (10,169 | ) | (155,061 | ) | ||||||
| Other net income | 22,612 | 3,333 | 3,021 | 10,980 | 1,618 | 337 | ||||||||||||
| Impairment loss on receivables and contract assets | (384 | ) | (57 | ) | (2,800 | ) | 12,754 | 1,880 | (2,077 | ) | ||||||||
| Operating loss | (852,910 | ) | (125,704 | ) | (890,077 | ) | (421,934 | ) | (62,185 | ) | (453,864 | ) | ||||||
| Net foreign exchange (loss)/gain | (24,489 | ) | (3,609 | ) | 5,629 | (13,654 | ) | (2,012 | ) | 1,557 | ||||||||
| Interest income | 98,506 | 14,518 | 74,946 | 44,602 | 6,574 | 35,200 | ||||||||||||
| Fair value changes of financial assets at FVTPL | (5,909 | ) | (871 | ) | 23,154 | (7,121 | ) | (1,050 | ) | 13,971 | ||||||||
| Finance costs | (5,089 | ) | (750 | ) | (3,292 | ) | (2,788 | ) | (411 | ) | (1,873 | ) | ||||||
| Loss before taxation | (789,891 | ) | (116,416 | ) | (789,640 | ) | (400,895 | ) | (59,084 | ) | (405,009 | ) | ||||||
| Income tax | 141 | 21 | (1,877 | ) | 230 | 34 | (1,436 | ) | ||||||||||
| Loss for the period | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | ||||||
| Loss attributable to ordinary shareholders of the Company | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | ||||||
| Loss per ordinary share | ||||||||||||||||||
| Basic and diluted loss per Class A and Class B ordinary share | (0.79 | ) | (0.12 | ) | (0.87 | ) | (0.41 | ) | (0.06 | ) | (0.45 | ) | ||||||
| Loss per ADS | ||||||||||||||||||
| Basic and diluted loss per ADS | (2.37 | ) | (0.36 | ) | (2.61 | ) | (1.23 | ) | (0.18 | ) | (1.35 | ) | ||||||
Note:
(a) Includes share-based compensation expenses as follows:
| Six Months Ended | Three Months Ended | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Research and development expenses | (79,381 | ) | (11,699 | ) | (86,386 | ) | (38,327 | ) | (5,649 | ) | (38,663 | ) | |||||
| Administrative expenses | (37,225 | ) | (5,486 | ) | (129,414 | ) | (15,151 | ) | (2,233 | ) | (79,421 | ) | |||||
| Selling expenses | (2,604 | ) | (384 | ) | (3,722 | ) | (1,613 | ) | (238 | ) | (1,774 | ) | |||||
| Total share-based compensation expenses | (119,210 | ) | (17,569 | ) | (219,522 | ) | (55,091 | ) | (8,120 | ) | (119,858 | ) | |||||
(b) Includes depreciation and amortization expenses as follows:
| Six Months Ended | Three Months Ended | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Costs of sales | (4,715 | ) | (695 | ) | (3,976 | ) | (2,191 | ) | (323 | ) | (2,354 | ) | |||||
| Research and development expenses | (97,123 | ) | (14,314 | ) | (56,342 | ) | (52,305 | ) | (7,709 | ) | (30,114 | ) | |||||
| Administrative expenses | (14,339 | ) | (2,113 | ) | (11,634 | ) | (7,256 | ) | (1,069 | ) | (5,210 | ) | |||||
| Selling expenses | (1,636 | ) | (241 | ) | (1,075 | ) | (977 | ) | (144 | ) | (629 | ) | |||||
| Total depreciation and amortization expenses | (117,813 | ) | (17,363 | ) | (73,027 | ) | (62,729 | ) | (9,245 | ) | (38,307 | ) | |||||
| WeRide Inc. Reconciliation of IFRS Measures to Non-IFRS Measures |
The table below sets forth a reconciliation of loss for the period to non-IFRS adjusted loss for the periods indicated:
| Six Months Ended | Three Months Ended | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Loss for the period | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | |||||
| Add: | |||||||||||||||||
| Share-based compensation expenses | 119,210 | 17,569 | 219,522 | 55,091 | 8,120 | 119,858 | |||||||||||
| Fair value changes of financial assets at FVTPL | 5,909 | 871 | (23,154 | ) | 7,121 | 1,050 | (13,971 | ) | |||||||||
| Adjusted loss for the period | (664,631 | ) | (97,955 | ) | (595,149 | ) | (338,453 | ) | (49,880 | ) | (300,558 | ) | |||||
The table below sets forth a reconciliation of loss for the period to EBITDA for the periods indicated:
| Six Months Ended | Three Months Ended | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | RMB’000 | ||||||||||||
| Loss for the period | (789,750 | ) | (116,395 | ) | (791,517 | ) | (400,665 | ) | (59,050 | ) | (406,445 | ) | |||||
| Add: | |||||||||||||||||
| Income tax | (141 | ) | (21 | ) | 1,877 | (230 | ) | (34 | ) | 1,436 | |||||||
| Finance costs | 5,089 | 750 | 3,292 | 2,788 | 411 | 1,873 | |||||||||||
| Depreciation and amortization expenses | 117,813 | 17,363 | 73,027 | 62,729 | 9,245 | 38,307 | |||||||||||
| EBITDA | (666,989 | ) | (98,303 | ) | (713,321 | ) | (335,378 | ) | (49,428 | ) | (364,829 | ) | |||||
___________________________
1 L4 business represents sales of autonomous driving vehicles and provision of autonomous driving related operational and technical support services.
2 L2++ / L3 business represents ADAS research and development services.
3 AI infrastructure business mainly represents intelligent data services.
4 Non-IFRS adjusted loss for the period is defined as loss for the period excluding share-based compensation expenses and fair value changes of financial assets at FVTPL.
5 EBITDA is defined as loss for the period excluding income tax, finance costs and depreciation and amortization expenses.
6 ADS-to-Class A ordinary share ratio is 1:3.
7 ADS-to-Class A ordinary share ratio is 1:3.
