Chinese autonomous-driving frontrunners raise over HK$9 billion but face investor caution with share declines of 11% and 8% respectively
Two leading Chinese autonomous-driving companies, Pony.ai Inc. and WeRide Inc., began trading on the Hong Kong Stock Exchange this week, marking significant dual-listings while also signalling growing investor scrutiny of the sector.
Pony.ai raised approximately HK$6.71 billion (US$863 million) while WeRide secured about HK$2.39 billion (US$308 million) in their respective initial public offerings.
The offerings came amid a surge of Chinese tech firms choosing Hong Kong as a secondary listing venue amidst shifting global regulatory dynamics.
At opening trades, however, the share price reactions were sharp: Pony.ai’s stock dropped by nearly 11 per cent as it opened at HK$124, down from its HK$139 offer price, while WeRide’s shares opened at HK$24.98, down 7.8 per cent from their HK$27.10 offer price.
The declines follow modest falls in their U.S.-listed shares — Pony.ai fell around 2 per cent and WeRide 5.2 per cent the prior day.
Both firms told investors that their objective in raising such substantial capital is to accelerate deployment of Level 4 autonomous driving technology — where no human driver is needed under defined conditions — expand robotaxi fleets, build charging and parking infrastructure, increase artificial-intelligence and data-centre capabilities, and drive global market entry.
Pony.ai’s CEO emphasised that short-term share-price fluctuations will not affect long-term plans, while WeRide’s founder reaffirmed confidence in future performance despite market volatility.
Their listing exercises underscore Hong Kong’s emergence as a pre-eminent destination for Chinese companies seeking access to international capital with regional advantages.
Data show that the Hong Kong exchange has raised over US$31.2 billion in initial listings so far this year, outpacing both the New York Stock Exchange and Nasdaq Stock Market when excluding special-purpose acquisition companies.
Yet the market’s muted response to the robotaxi debuts may reflect investor caution about commercial viability, regulation and profitability in the autonomy sector.
While autonomous technology remains a marquee theme, analysts caution that long development cycles, regulatory approvals and heavy capital intensity continue to challenge returns.
For Hong Kong and the companies involved, the test now is converting capital-market success into sustained operational momentum.
Pony.ai raised approximately HK$6.71 billion (US$863 million) while WeRide secured about HK$2.39 billion (US$308 million) in their respective initial public offerings.
The offerings came amid a surge of Chinese tech firms choosing Hong Kong as a secondary listing venue amidst shifting global regulatory dynamics.
At opening trades, however, the share price reactions were sharp: Pony.ai’s stock dropped by nearly 11 per cent as it opened at HK$124, down from its HK$139 offer price, while WeRide’s shares opened at HK$24.98, down 7.8 per cent from their HK$27.10 offer price.
The declines follow modest falls in their U.S.-listed shares — Pony.ai fell around 2 per cent and WeRide 5.2 per cent the prior day.
Both firms told investors that their objective in raising such substantial capital is to accelerate deployment of Level 4 autonomous driving technology — where no human driver is needed under defined conditions — expand robotaxi fleets, build charging and parking infrastructure, increase artificial-intelligence and data-centre capabilities, and drive global market entry.
Pony.ai’s CEO emphasised that short-term share-price fluctuations will not affect long-term plans, while WeRide’s founder reaffirmed confidence in future performance despite market volatility.
Their listing exercises underscore Hong Kong’s emergence as a pre-eminent destination for Chinese companies seeking access to international capital with regional advantages.
Data show that the Hong Kong exchange has raised over US$31.2 billion in initial listings so far this year, outpacing both the New York Stock Exchange and Nasdaq Stock Market when excluding special-purpose acquisition companies.
Yet the market’s muted response to the robotaxi debuts may reflect investor caution about commercial viability, regulation and profitability in the autonomy sector.
While autonomous technology remains a marquee theme, analysts caution that long development cycles, regulatory approvals and heavy capital intensity continue to challenge returns.
For Hong Kong and the companies involved, the test now is converting capital-market success into sustained operational momentum.







































