WeRide-W (00800) announced that its total revenue for the fourth quarter of 2025 reached RMB 314 million, representing a 123.0% year-over-year increase. Gross profit for the quarter was RMB 89.5 million, up 74.1% compared to the same period last year, with a gross margin of 28.5%. For the full year 2025, total revenue amounted to RMB 684.6 million, marking an 89.6% annual growth. Gross profit for the year rose to RMB 206.8 million, an 86.8% increase from the previous year. The gross margin stood at 30.2%, remaining relatively stable compared to 30.7% in 2024. Research and development expenses totaled RMB 1.4 billion, up from RMB 1.1 billion in 2024.
Product revenue in 2025 reached RMB 359.8 million, surging 310.3% year-over-year, primarily driven by the widespread deployment and scaling of autonomous taxi, autonomous minibus, and unmanned sanitation vehicle products. Service revenue grew by 18.8% to RMB 324.7 million. Revenue from autonomous taxi operations, including both product and service components, reached RMB 148 million, a 209.6% increase. During the reporting period, autonomous taxi services continued to be a key driver of the company's operational growth, supported by ongoing commercialization efforts in China and expansion into international markets.
Throughout the year, the company advanced its data-driven autonomous stack by incorporating end-to-end learning, leveraging large-scale data training and world model simulations, and enhancing algorithm generalization capabilities. As of the announcement date, WeRide's global autonomous taxi fleet reached a record high of 1,125 vehicles.
Han Xu, Founder, Chairman, and CEO of WeRide, stated, "Our autonomous taxi business achieved several significant milestones during the reporting period, reflecting the growing adoption of autonomous mobility services. In 2025, we saw a notable quarter-over-quarter increase in registered users in China, demonstrating public recognition of our services. Internationally, the launch of a city-wide fully driverless taxi service in Abu Dhabi marked a major step toward integrating autonomous transportation into daily urban mobility. With plans to deploy autonomous vehicles in 12 countries, we are building a world-leading autonomous mobility platform."
Li Xuan, Chief Financial Officer and Head of International at WeRide, added, "In 2025, we achieved a record revenue of $97.9 million, a 90% year-over-year increase, highlighting the strong commercial momentum from our expanding autonomous vehicle fleet in domestic and international markets. Our gross margin remained robust at 30.2%, supported by our focus on high-value mobility markets and disciplined deployment strategies that enhance operational efficiency. Operating loss decreased by 15.5% year-over-year, reflecting the continuous efficiency improvements driven by our shared autonomous platform."