Post by : Badri Ariffin

Hong Kong — Shares of autonomous driving developers Pony Ai and WeRide fell on Thursday as both firms began trading in Hong Kong after completing initial public offerings that together raised nearly $1.2 billion.

Pony Ai opened weak and slid roughly 11% in early trade following its $863 million fundraising. WeRide’s stock also retreated, falling about 8% after raising $308 million. The declines occurred despite the Hang Seng Index advancing around 0.5% on the session.

The listings represent a notable milestone for China’s self-driving sector as companies push toward broader commercial rollouts amid intensifying global competition. Pony Ai said it will direct proceeds toward scaling operations and speeding autonomous vehicle deployment, while WeRide plans to invest in hiring, computing capacity and international expansion.

Thursday’s muted reception echoed trading in New York the previous day, when WeRide fell about 5.2% and Pony Ai dipped roughly 2%. Investors have remained cautious on technology and mobility stocks amid global market swings and tighter liquidity conditions in the U.S.

Other Hong Kong IPOs posted mixed moves: Vigonvita Life Sciences jumped as much as 191% from its offer price, whereas Ningbo Joyson Electronic traded down about 5% in early deals.

Hong Kong continues to pull strong listing activity. LSEG figures show the city has outpaced the New York Stock Exchange and Nasdaq as the leading venue this year (excluding SPACs), with companies raising $31.2 billion so far — nearly three times the amount raised in the same period a year earlier.

The twin debuts of Pony Ai and WeRide underline both the long-term potential and near-term challenges facing China’s fast-evolving robotaxi industry, as investors weigh growth prospects against short-term market pressures.

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