WeRide's Q4 2024 Earnings Call: Contradictions in Revenue Growth, Market Focus, and Product Strategy

These are the key contradictions discussed in WeRide's latest 2024 Q4 earnings call, specifically including: Financial Projections, Product Launch Timelines, and Market Strategy:



Revenue and Product Growth:
- WeRide's total revenue for the fourth quarter decreased by 3% to 141 million, mainly due to a decline in service revenue, which was partially offset by a growth in product revenue.
- For the full year of 2024, product revenue increased by 62% to 88 million, driven by a significant rise in the sale of Robotaxi, RoboSweeper, and Robovan.

Operating Expenses and R&D Investment:
- WeRide's operating expense rose by 82% to 640 million in Q4, and increased by 32% to 2.3 billion for the full year of 2024.
- This increase was mainly due to higher personnel-related expense and share-based compensation, as WeRide continued to invest in R&D to enhance technical capabilities and launch new products.

International Expansion and Partnerships:
- WeRide launched its first strategic Robotaxi pilot project in Switzerland and obtained a permit for commercial operation in Beijing, marking key milestones in international and domestic markets.
- These expansions were supported by strategic partnerships with global platforms like Uber, which will see 50 Robotaxis operating by mid-2025, and collaborations with local operators like Zurich Airport for Robobus services.

Technology and Product Innovation:
- WeRide deployed end-to-end models and VLM in its L4 system, enhancing autonomous driving systems' performance and safety.
- The company's focus on product innovation led to the launch of the new purpose-built Robotaxi, GXR, and the extension of its L4 segment with new RoboSweeper and Robovan models, all featuring advanced technology and user-centric design.