Autonomous-driving names WeRide and Pony.ai join two others as Hong Kong continues its listing resurgence
Four Chinese companies took the floor of the Hong Kong Stock Exchange on Thursday, including leading autonomous-driving firms Pony.ai and WeRide, marking another busy day of initial public offerings in the city and underscoring its status as the world’s top destination for equity listings this year.
Shares of Ningbo Joyson Electronic, a major automotive-supplier, opened at HK$29.83 above its HK$22 offer price, gaining roughly 35 per cent.
Biotech firm Vigonvita Life Sciences surged 184 per cent from HK$33.37 to HK$95. The robotaxi names drew mixed reactions: Pony.ai entered at HK$124—down 11 per cent from its offer price of HK$139—while WeRide started at HK$24.98, a 7.8 per cent drop from its HK$27.10 listing price.
Pony.ai raised HK$6.71 billion (US$863 million) in its offering after fully exercising its option, with heavyweight institutional and retail demand noted.
By contrast, WeRide opted for a smaller scale but emphasised its technology credentials and North-American listing pedigree.
Both companies had earlier secured approval from mainland China’s securities supervisor to list in Hong Kong, part of a broader push by Chinese tech firms to diversify capital access amid evolving global market conditions.
The strong performance of Joyson and Vigonvita, and the heavy interest in the world’s most advanced Chinese driver-technology companies, come against a backdrop of Hong Kong’s resurgent initial public-offering market.
According to accounting-firm data, fundraising volume through Hong Kong’s main board IPO channel has already surged year-on-year, supported by regulatory reform and global investor flows.
Analysts note that the city’s role as a gateway to Chinese capital remains intact, yet the nature of listing mandate is shifting: more secondary listings of already-publicised mainland firms, and fewer high-margin mandates for Western banks in the process.
For investors assessing the Houston-style ‘go-global’ story of Chinese autonomous-driving companies, the mixed debut of Pony.ai and WeRide sends a nuanced signal: while appetite remains strong, valuations and investor expectations are under increased scrutiny.
For the Hong Kong market, the debuts reinforce its positioning as the preferred venue for China’s next-generation firms, even as the global listing environment becomes more selective.
Shares of Ningbo Joyson Electronic, a major automotive-supplier, opened at HK$29.83 above its HK$22 offer price, gaining roughly 35 per cent.
Biotech firm Vigonvita Life Sciences surged 184 per cent from HK$33.37 to HK$95. The robotaxi names drew mixed reactions: Pony.ai entered at HK$124—down 11 per cent from its offer price of HK$139—while WeRide started at HK$24.98, a 7.8 per cent drop from its HK$27.10 listing price.
Pony.ai raised HK$6.71 billion (US$863 million) in its offering after fully exercising its option, with heavyweight institutional and retail demand noted.
By contrast, WeRide opted for a smaller scale but emphasised its technology credentials and North-American listing pedigree.
Both companies had earlier secured approval from mainland China’s securities supervisor to list in Hong Kong, part of a broader push by Chinese tech firms to diversify capital access amid evolving global market conditions.
The strong performance of Joyson and Vigonvita, and the heavy interest in the world’s most advanced Chinese driver-technology companies, come against a backdrop of Hong Kong’s resurgent initial public-offering market.
According to accounting-firm data, fundraising volume through Hong Kong’s main board IPO channel has already surged year-on-year, supported by regulatory reform and global investor flows.
Analysts note that the city’s role as a gateway to Chinese capital remains intact, yet the nature of listing mandate is shifting: more secondary listings of already-publicised mainland firms, and fewer high-margin mandates for Western banks in the process.
For investors assessing the Houston-style ‘go-global’ story of Chinese autonomous-driving companies, the mixed debut of Pony.ai and WeRide sends a nuanced signal: while appetite remains strong, valuations and investor expectations are under increased scrutiny.
For the Hong Kong market, the debuts reinforce its positioning as the preferred venue for China’s next-generation firms, even as the global listing environment becomes more selective.







































