Good news丨China's super unicorn, WeRide, which participated in the investment of Shanggu, went to the United States for IPO

Recently, WeRide Inc., an autonomous driving technology startup invested by the investment banking department of Shanggu International Group, officially submitted its IPO application documents to the United States Securities and Exchange Commission (SEC). The IPO will be led by Morgan Stanley, JPMorgan Chase & Co. and CICC, and WeRide plans to list on the Nasdaq in the form of ADS under the ticker symbol "WRD", marking its sprint to the throne of "China's first GM autonomous driving stock", and is also expected to become the largest IPO of a Chinese company in United States since Didi's listing in 2021.

WeRide is an autonomous driving technology company born in 2017, headquartered in Guangzhou, committed to the development of safe and reliable unmanned driving technology, application scenarios covering smart travel, smart freight and smart sanitation, has carried out autonomous driving research and development, testing and operation in 30 cities in 7 countries around the world, is the only technology company with autonomous driving licenses in China, United States, U.A.E. and Singapore, and its commercial revenue ranks first among similar enterprises in the world.

Since its establishment, WeRide has received 10 rounds of financing, with a cumulative financing amount of more than US$1.2 billion, with investors including He Xiaopeng, GAC Group, NVIDIA, Bosch, IDG Capital, Qiming Venture Partners, etc., with the latest valuation of US$5.1 billion. As early as 2021, the investment banking department of Shanggu International Group has participated in WeRide's Series B financing based on its strong interest in unmanned driving projects and based on its optimism about WeRide's layout in the future travel field, helping its development in product research and development and application landing.

Before participating in WeRide's Series B financing, the Investment Banking Department of Ancient International Group believed that WeRide had significant advantages in algorithmic and data-driven technical capabilities and phased commercialization in subdivided fields, and its development prospects were unlimited. WeRide is expected to complete its NASDAQ listing by the end of August, which will be another milestone in the investment map of Ancient Capital, demonstrating the positive image of Ancient International Group in continuously improving its investment and research capabilities and increasing its investment layout in the artificial intelligence industry. We are full of expectations for the unprecedented convenient mobility experience brought by the development of autonomous driving technology, and we are also full of confidence that WeRide will grow into a world-class intelligent mobility company, and we are willing to continue to explore new investment models to help more outstanding entities grow healthily."