Overview

• China’s securities regulator approved the companies’ applications for secondary listings in Hong Kong, with filings posted Tuesday.
• Both firms plan to issue new shares in the city to raise capital for growth, complementing their existing Nasdaq listings.
• WeRide has engaged Morgan Stanley and China International Capital Corporation for the transaction, according to a Reuters report cited by CNBC.
• The operators are scaling services in Chinese cities and pushing into the Middle East, Europe and Singapore, where most deployments still await full approvals.
• In the U.S., both have partnerships with Uber for potential robotaxi integration pending regulatory clearance, while their vehicles target Level 4 autonomy as defined by SAE and benefit from EV-driven cost declines noted by UBS.