Pony Ai, WeRide Shares Retreat in Hong Kong Debut

Post by : Bianca Suleiman

Hong Kong — Shares of Chinese autonomous driving developers Pony Ai and WeRide opened lower on Thursday as both companies began trading in Hong Kong after securing almost $1.2 billion through their initial public offerings.

Pony Ai’s stock dropped nearly 11% in early trade after completing an $863 million IPO, while WeRide’s shares fell roughly 8% following a $308 million raise. The moves contrasted with a 0.5% gain in the Hang Seng Index during the session.

The listings are a milestone for China’s self-driving industry as the two firms advance toward wider commercial rollouts amid intensifying global competition. Pony Ai said it will allocate proceeds to expand operations and speed up vehicle deployments; WeRide indicated plans to invest in recruitment, computing capacity and international growth.

The Hong Kong debuts echoed softer showings in New York the previous day, when WeRide lost about 5.2% and Pony Ai slipped around 2%. Market participants have remained guarded on tech and mobility stocks amid global volatility and tighter liquidity conditions in the U.S.

Other recent Hong Kong listings produced mixed outcomes: Vigonvita Life Sciences jumped as much as 191% from its offer price, while Ningbo Joyson Electronic traded down about 5% in early dealings.

Despite uneven receptions, Hong Kong continues to attract strong listing flows. LSEG data indicates the city has overtaken the New York Stock Exchange and Nasdaq (excluding SPACs) as the top venue this year, with firms raising $31.2 billion so far — almost three times the sum at the same point last year.

The twin debuts of Pony Ai and WeRide underline both the long-term potential and the near-term challenges for China’s autonomous driving sector, as investors weigh future growth prospects against present market pressures.