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… preparation reflected Li’s early view that AI would move beyond experimentation and into large-scale application.
When the large model boom accelerated globally in 2023 and competition centered on model parameters, inference capabilities, and token consumption, Baidu began emphasizing an application-driven path. After releasing Ernie Bot, Li publicly said the value of models lies in applications. At the time, this was not the dominant view, as much of the AI sector remained focused on model capabilities.
By 2024, Li went further, arguing that agents would become the most important application form in the next stage. These judgments looked early at the time. Over a longer timeline, as OpenAI, Google, Microsoft, Anthropic, and other global technology companies began investing heavily in agents, they became more aligned with the direction of the sector.
In 2026, as Ernie models move further toward natively unified omnimodal capabilities and search undergoes AI-driven transformation, an important question remains: Is AI truly creating measurable results?
<h3>Retooling for the AI agent era</h3>
At the conference, executive vice president Shen Dou announced that Baidu AI Cloud will be upgraded into a “new full-stack AI cloud purpose-built for large-scale agent applications.”
Past AI infrastructure mainly served model training and inference. In the agent era, underlying systems are being redesigned around agents. In the future, the entities actively calling APIs will include not only humans, but also agents. Agents will independently choose models, query data, call tools, and coordinate other agents. That means the main goal of AI infrastructure is shifting from supporting token generation to helping AI agents complete tasks more reliably.
Baidu said it has begun restructuring its infrastructure accordingly. One notable concept is “harness engineering.” Instead of focusing only on model capabilities, Baidu is emphasizing how agents can use fewer tokens and fewer conversation turns to complete more complex tasks through long-context management, persistent memory, tool calls, sub-agent coordination, and runtime support.
For AI infrastructure, Baidu is trying to push token efficiency further by upgrading model-as-a-service into a token foundry model. It is also using hierarchical pooling of KV (key value) cache to raise the context reuse rate, while optimizing long-chain agent inference performance and using an omnimodal training framework and reinforcement learning to accelerate agents’ continuous improvement.
At the same time, Baidu is moving deeper into the foundational layer. From Kunlunxin P800 to the Tianchi 256-card supernode and gigawatt-scale AI data centers, Baidu is restructuring its data center architecture to shift focus from power supply and distribution toward networking and inference efficiency.
Baidu appears to view China’s industrial system, broad base of real-world application scenarios, and enterprise knowledge as resources that agents can absorb and amplify. Accordingly, its goal may no longer be simply to build larger models, but to pair models with agents and infrastructure capable of completing useful work at scale.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3807529535381254">article</a> was written by Xiao Xi for 36Kr.

Baidu wants daily active agents to become AI’s next value metric

Baidu

East Asia

China

Artificial Intelligence

Deep Tech

Restaurants in China are struggling to make money on dine-in meals as customers choose cheaper delivery options, adding to the pressure of a government ban on expensive official dinner parties.
The industry is undergoing a "deep correction" and faces "multifaceted challenges," the operator of a well-known Peking duck restaurant chain warned in its latest earnings report.
Dating back to 1864, Quanjude Group has 89 locations in China. It has seen better days. Sales dropped 11% to RMB 1.25 billion (USD 183.6 million) for the fiscal year ended December 2025 while net profit plunged 77%. Both figures fell for the second year in a row.
Tang Palace Holdings, which runs high-end restaurants in Shanghai and other major cities, is suffering, too. Its 2025 sales fell 12% to RMB 894.58 million (USD 131.4 million), and it suffered a net loss for the second year running. Business dinners are decreasing, Tang Palace's earnings report noted.
In May last year, Chinese authorities toughened rules meant to encourage frugality and reduce waste. Civil servants were banned from entertaining with expensive food and alcohol. But ordinary citizens began cutting back as well. Under austerity, a high-end brand image hurts rather than helps chains like Quanjude and Tang Palace.
Meanwhile, the growing popularity of food delivery means fewer people are eating out. Roughly 629.79 million people used domestic food delivery services last year, according to estimates by the China Internet Network Information Center.
Delivery companies have been waging a price war to attract consumers. The three big players, namely <a href="/company/meituan">Meituan</a>, <a href="/company/alibaba">Alibaba</a>, and <a href="/company/jd">JD.com</a>, spent a total of RMB 74.4 billion (USD 10.9 billion) on discounts and other promotions between April and September 2025, according to estimates by local media outlet The Paper.
Hot pot restaurants have been hit particularly hard by the price war. These restaurants, where cooking at the table is a big part of the attraction, had a harder time configuring themselves to delivery.
One of China's biggest hot pot chains, Haidilao, saw revenue fall 7% to RMB 37.5 billion (USD 5.5 billion) in 2025, parent Haidilao International Holding reported.
The company has taken steps to adapt to takeout, such as preparing disposable aluminum pots for home use. Delivery sales more than doubled compared with the previous year to RMB 2.6 billion (USD 381.8 million), but this has not been enough to offset falling in-store sales.
Haidilao responded to the pressure with its "Pomegranate Plan," which calls for launching a slew of new restaurants, like the seeds of a pomegranate.
By the end of last year, Haidilao had branched out into 20 different restaurant formats, including conveyor belt sushi, barbecue, and desserts.
Some restaurant groups are making the most of the delivery boom. At Yum China Holdings, the local operator of KFC and other fast food chains, revenue grew 4% last year to USD 11.7 billion. Delivery orders accounted for 48% of revenue, rivaling in-store dining, thanks to app upgrades and other steps.
<figure id="attachment_147666" aria-describedby="caption-attachment-147666" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-147666" src="https://console.0722vps.aieehr01.top/wp-content/uploads/2024/02/KFC-China.jpg" alt="Photo of a KFC restaurant in Chengdu, China." width="1920" height="1440" srcset="https://console.0722vps.aieehr01.top/wp-content/uploads/2024/02/KFC-China.jpg 1920w, https://console.0722vps.aieehr01.top/wp-content/uploads/2024/02/KFC-China-300x225.jpg 300w, https://console.0722vps.aieehr01.top/wp-content/uploads/2024/02/KFC-China-1024x768.jpg 1024w, https://console.0722vps.aieehr01.top/wp-content/uploads/2024/02/KFC-China-768x576.jpg 768w, https://console.0722vps.aieehr01.top/wp-content/uploads/2024/02/KFC-China-1536x1152.jpg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-147666" class="wp-caption-text">Delivery accounts for a large share of KFC’s sales in China. Photo source: Unsplash.</figcaption></figure>
Chinese consumer spending has been weak overall as the economy has slowed. Consumers are increasingly cost-conscious, and delivery companies are resorting to deep discounts to keep them coming back.
Restaurants finds themselves caught in the crossfire. According to a survey conducted by Chinese research firm BDO, which interviewed 2,298 restaurants in China, nearly 80% reported that their profits had decreased due to the takeout price war.
For restaurants designed for in-store dining, rent eats into earnings even if delivery orders increase. New formats may emerge as the industry adapts.
This article first appeared on <a href="https://asia.nikkei.com/business/food-beverage/china-loves-food-deliveries.-restaurants-are-starving-as-a-result">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.0722vps.aieehr01.top/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.
Note: RMB figures are converted to USD at rates of RMB 6.81 = USD 1 based on estimates as of May 13, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

China loves food deliveries, and restaurants are starving as a result

On-demand Services

Food Delivery

Consumer Economy

… Capital, Glacier Capital China, and others. Existing backers, including GL Ventures, Shenzhen Co-Stone Asset Management, Fibonacci VC, and Zhisheng Ruiying, also reinvested. The funds will support rocket assembly and testing, reusable recovery technology validation, production capacity expansion, and team building. —<a href="https://36kr.com/p/3814368445259270">36Kr</a></li>
<li aria-level="1">Rhythmic Beat, a tech-driven cultural tourism services company founded in 2025, has raised over RMB 10 million (USD 1.5 million) in a new funding round led by Skyworks. The round values the company at several hundred million RMB. The company offers an AI-powered travel concierge for concertgoers, integrating ticketing, accommodation, transportation, dining, and merchandise services into customized travel plans. —<a href="https://36kr.com/p/3813463119863553">36Kr</a></li>
<li aria-level="1">Yujia Power Technology, a developer of aviation electric propulsion systems, has completed two consecutive angel extension rounds, raising an eight-figure RMB sum in total. Investors include Yihua Investment, Oriza Holdings, Changzhou High-Speed Railway Town, and CJL Holdings. The funds will be used for R&amp;D, talent recruitment, and production line expansion. —<a href="https://36kr.com/p/3808772503199489">36Kr</a></li>
<li aria-level="1">PhotonCore, a photonic computing chip startup, has raised an eight-figure RMB sum in an angel round co-led by Suzhou Xinyang Fund, Aistar Ventures, and Peakview Capital, with participation from Kaiyuan Venture Capital. Founded in 2024, PhotonCore develops optoelectronic integrated computing chips. Its team has backgrounds in integrated circuits, optics, algorithms, and semiconductors. —<a href="https://36kr.com/p/3807043342475009">36Kr</a></li>
<li aria-level="1"><a href="https://www.fangshitech.com/">Fangshi Robotics</a>, a robotics developer, has raised nearly RMB 100 million (USD 14.7 million) in a Series A round jointly invested by Beijing E-Town, Hangfa Fund, and other institutions. The company will use the capital to iterate its products, strengthen production and delivery capabilities, and build its overseas market system. Fangshi Robotics mainly develops embodied intelligence and AI solutions for building and construction use cases. —<a href="https://36kr.com/p/3807039782116865">36Kr</a></li>
<li aria-level="1">Entropy Intelligence Technology, a robotics startup, has raised a seven-figure USD sum in a seed round from Monad Ventures. The company was founded by researchers with backgrounds in AI, theoretical physics, and micro drone systems. It is developing Flyer O1, described as a flying robot designed for household spaces. —<a href="https://36kr.com/p/3805672617959173">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>JustCo, Konvy, Wenti Labs, and others made recent headlines:</h3>
<ul>
<li aria-level="1">JustCo, a flexible workspace operator, is preparing for a mainboard listing on the Singapore Exchange and lodged a preliminary prospectus with the Monetary Authority of Singapore on May 7. Details including the offering size, pricing, and valuation have not been disclosed.</li>
<li aria-level="1">Konvy, a Thailand-based omnichannel beauty and personal care platform, raised USD 22 million in a Series B round led by Cool Japan Fund, with participation from existing investor Insignia Ventures Partners.</li>
<li aria-level="1">Wenti Labs, a Singapore-based startup building an AI operating system for construction teams, raised a pre-seed round led by Zacua Ventures, with participation from Aurum Investments and Feedback Ventures.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@0722vps.aieehr01.top">hello@0722vps.aieehr01.top</a>.
Note: RMB figures are converted to USD at rates of RMB 6.81 = USD 1 based on estimates as of May 19, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Deals in brief: FusionAP raises pre-seed funding, SeaX Ventures backs US-based Melazyme, seven China investments, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Thailand

Indonesia

Southeast Asia

… content that was originally published by 36Kr. This <a href="https://36kr.com/p/3799028783439111">article</a> was written by Xiao Sijia for 36Kr.

Four years after ChatGPT, Xiaohongshu’s AI restraint gives way to urgency

Xiaohongshu

… that, if they do crash, they can restore themselves. Otherwise, no one can simply go to space to fix them."
Chen Yang-Chieh, vice president at Asia Vital Components, a key supplier of thermal dissipation solutions for Nvidia and global data centers, said full commercialization of space-grade thermal solutions is still some time off, if it ever occurs.
"It is unlikely to happen or materialize in the near term, and it will still take several years for such infrastructure to begin. Even then, no one can guarantee it will become a major business. That said, I would say some early engagements are already starting," the executive said. "These thermal solutions are entirely different from those on the ground, the design and size all need to be significantly different."
Ramon.Space, a space-based computing solutions provider that has worked on satellite missions for the Japan Aerospace Exploration Agency's (JAXA) Hayabusa 2 as well as NASA (National Aeronautics and Space Administration), is partnering with Nvidia AI server maker Ingrasys to build and launch in-orbit data center infrastructure in the next two to three years. Ingrasys is a server subsidiary of Taiwan's Foxconn.
Avi Shabtai, CEO of Ramon.Space, told Nikkei Asia that space-based data centers would likely have a "totally active and different supply chain" than the traditional space sector, because the payloads will be much different. "There is a full ecosystem and a full supply chain that will change, and there will be newcomers coming in."
National security concerns and conflicts on the ground may provide a further tailwind for the push to put data centers in space. Japan and Singapore are among the countries investing in sovereign AI, while three Amazon Web Services data centers in the Middle East have been out of commission due to the Iran war.
Steve Eisele, CEO of Lonestar Data Holdings, a US space data storage provider aiming to put data centers on the moon, told Nikkei Asia that building data infrastructure in space makes sense, particularly as initial demand is likely to come from a resilience perspective and the need to safeguard critical infrastructure such as utilities, banking, telecommunications, and healthcare.
"If something were to happen to your data, knowing that you have a copy in space that no one can access is important for the continuity of your country and industry," Eisele said.
He added that there are many risks that could damage data, including cyberattacks, human error, and natural disasters such as earthquakes. "It is essential to have backups of critical data somewhere, and outer space is a very viable option."
As the race for space-based data centers heats up, will the geopolitical fault lines on Earth be reflected in orbit? US cloud providers are barred from operating freely in China, while Chinese data centers are cut off from accessing US companies' most advanced chips.
"I don't know why it would play out any differently than terrestrial, but of course, even just the terrestrial landscape is complicated and shifting right now, " Beals said.
Schingler at Planet Labs pointed to a history in which collaboration was still possible despite heated competition: At the height of the Cold War, the Apollo and Soyuz capsules docked in space.
"There are some challenges that we face as a human species in how the modern world works and operates," Schingler said.
"Space can be one avenue for collaboration," he said. "Science is another."
This article first appeared on <a href="https://asia.nikkei.com/business/technology/tech-asia/the-ai-space-race-us-and-china-bet-big-on-orbital-data-centers">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.0722vps.aieehr01.top/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.
Note: RMB figures are converted to USD at rates of RMB 6.81 = USD 1 based on estimates as of May 13, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

The AI space race: US and China bet big on orbital data centers

Space Tech

… and adapts techniques from Europe, including French lacework, Italian fabric-texture work, and Swiss pivot mechanisms. Through these craft barriers, it creates both visual and tactile experiences, using product capabilities to stand out in the crowded gold jewelry market.
Jinlux has built three main product systems: Youyuan, Wanxiang, and Daguan. It continues to iterate, following a rhythm of launching one major product series each year while introducing limited-edition products with cultural attributes tailored to different regions and seasons.
In addition, Jinlux said it dynamically adjusts its product structure based on market changes, using a flexible and up-to-date product strategy to strengthen its competitiveness and market sensitivity.
For Jinlux, product strength rooted in aesthetics is both the starting point and the basis for sustained growth. While the traditional gold jewelry sector still competes largely on scale and price, and the heritage gold segment is becoming increasingly crowded, Jinlux has chosen to define itself through a gold-and-ruby category.
Its playbook borrows from luxury brands: using an international aesthetic system as a moat, working around material constraints with refined craftsmanship, building brand momentum through emotional value and scarcity, and attracting high-net-worth customers with luxury-grade works.
Jinlux’s customer base includes not only domestic consumers but also foreign customers drawn by its unique aesthetic sensibilities, putting new pressure on international luxury houses that have long led the market.
At the same time, Jinlux has attracted capital interest. According to Liu, the brand has been in contact with investors and plans to introduce external capital at an appropriate point.
Bringing in capital could help Jinlux scale its business model and deepen its moat. If market conditions remain favorable, it could also help the brand expand awareness more quickly.
From these perspectives, capitalization is a likely next step in Jinlux’s development.
Next, Jinlux will launch new works under its Youyuan series in late June, covering a full range of products including pendants, stud earrings, rings, and bangles.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3798698576370695">article</a> was written by 36Kr Brand.
Note: RMB figures are converted to USD at rates of RMB 6.82 = USD 1 based on estimates as of May 18, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Jinlux emerges as a dark horse in China’s high-end jewelry market

Retail

… Hanoi-based director at real estate brokerage firm Savills.
A relevant international case study is Beijing, Powell said. China's capital has already gone through multiple waves of large-scale population and function relocation, with observers noting the lesson learned from China's earlier mistake: relocating residents out of the historic core before jobs, administration and top-tier services were ready in the new areas.
Beijing authorities eventually built transport and relocated power and employment prior to moving residents, with strong transport links to the city center and transit-oriented development offering long-term development sustainability.
"It's not a question of forcing residents to relocate. It's about getting towards that stage where relocating becomes more desirable," Powell said. "In many cities, people choose to move outward because connectivity improves and quality of life increases."
Powell, who has lived in Vietnam since 2004, added:
<blockquote>"When the compensation framework is clear and fair, then land clearance shouldn't stand in the way of key infrastructure projects. For the sake of progress for the city, we have to go ahead and get on with these things. We can't wait for 20 years for each subway line. We'll probably have a different way of getting around in 100 years by the time it's finished."</blockquote>
As transport networks expand, previously distant areas will become more accessible, unlocking new land supply and enabling more diverse housing options. Lower land costs in emerging districts could allow developers to offer more affordable housing, addressing a chronic shortage driven by population growth and urbanization, Powell said.
There is strong underlying demand for housing from end users—young families and middle-income households—not just speculators, but housing has been constrained by high land costs and limited affordable supply in central areas, he said.
The average primary apartment price in Hanoi surged to near USD 4,000 per square meter in the first quarter of 2026, from around USD 1,400 in 2020, data from brokerage firm Cushman &amp; Wakefield showed.
Efforts to digitize property records and improve transparency could also reduce speculation and market distortions, making housing more accessible over time, Powell said.
Ultimately, the success of Hanoi's transformation will depend not just on infrastructure, but also on how the changes are implemented on the ground for residents like Phuong.
For now, she remains in limbo.
"I cannot eat. I have lost sleep for days," she said. "On one hand, I want to move immediately, on the other there is a lack of information, and I worry I cannot afford what comes next."
This article first appeared on <a href="https://asia.nikkei.com/spotlight/big-in-asia/remaking-hanoi-vietnam-bets-on-colossal-capital-renewal-to-drive-growth">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.0722vps.aieehr01.top/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.
Note: VND figures are converted to USD at rates of VND 26229.01 = USD 1 based on estimates as of May 13, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Remaking Hanoi: Vietnam bets on colossal capital renewal to drive growth

Vietnam

Chinese ice cream and beverage chain Mixue Bingcheng is building a merchandise business around its snowman mascot as it tries to stand out in the country's crowded market.
Typical Mixue shops are small and sell ice cream and teas. But the store in a bustling Guangzhou neighborhood that opened last December offers beverages and food on the first floor, and a second floor dedicated to merchandise for its Snow King character.
Snow King blind boxes have become a hit with younger shoppers. Each box's contents are a mystery until opened.
Blind boxes fueled the rise of <a title="" href="https://asia.nikkei.com/business/consumer/labubu-amusement-park-pop-land-reopens-after-long-awaited-facelift" target="_blank" rel="noopener">Pop Mart's Labubu</a> character, another example of a recent drive in China to develop homegrown content.
Mixue began as a small beverage shop opened in 1997 by founder Zhang Hongchao and adopted its current brand name in 1999. The company's mainstay soft serve ice cream and drinks are affordably priced at RMB 2–8 (USD 0.3–1.2), making them popular with students and families.
The red-caped Snow King was introduced in 2018. The character stars in an animated series released in 2023 in which he makes friends as he flies around.
Since 2025, large Mixue stores selling Snow King merchandise have opened across China, including Guangzhou, Zhengzhou in Henan, and Chongqing.
Snow King puts a face to the brand and deepens emotional connections with consumers, the company says. When Mixue listed in Hong Kong in March 2025, it announced plans to invest HKD 395 million (USD 50.5 million), representing 12% of the funds it planned to raise, into IP-related businesses.
Snow King merchandise can sell for more RMB 20 (USD 2.9), potentially increasing average customer spending. Few of Mixue's rivals have their own mascots.
China was home to about 660,000 beverage stores in 2023. While Mixue had the top market share that year, its lead is not secure. Mixue stores at home and abroad increased roughly 30% in 2025 to 59,800, but the number of closures rose about 60% to around 2,500, in a sign of the fierce competition the chain faces.
This article first appeared on <a href="https://asia.nikkei.com/business/retail/china-ice-cream-chain-mixue-takes-page-from-labubu-with-snow-king-merch">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.0722vps.aieehr01.top/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.
Note: HKD, RMB figures are converted to USD at rates of HKD 7.83 = USD 1 and RMB 6.81 = USD 1 based on estimates as of May 13, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Mixue Bingcheng takes page from Labubu with Snow King merch

… https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/WeRide-Grab-Autonomous-Shuttle-1024x576.jpg 1024w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/WeRide-Grab-Autonomous-Shuttle-768x432.jpg 768w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/WeRide-Grab-Autonomous-Shuttle-1536x864.jpg 1536w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/WeRide-Grab-Autonomous-Shuttle-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-161975" class="wp-caption-text">Passengers alight from a robotaxi in Singapore under the Ai.R (autonomously intelligent ride) service, piloted by Grab and WeRide in Singapore’s Punggol district. Photo source: WeRide.</figcaption></figure>
Globally, WeRide’s business now covers more than 40 cities across 12 countries.
On the technology side, WeRide announced at the 2026 Beijing Auto Show that its WRD 3.0 assisted driving solution has been adapted for multiple chip platforms. It supports mainstream in-vehicle computing platforms, including Nvidia Drive, Qualcomm Snapdragon, and SemiDrive’s X9, covering different computing power levels and cost ranges. The system provides global OEMs (original equipment manufacturers) with a family of Level 2 and higher advanced driver assistance solutions, ranging from high-performance to lower-cost options.
In April, the Aion N60, the first passenger vehicle developed and mass produced by WeRide and GAC Aion, went on sale. It also marked WeRide’s first mass production of one-stage end-to-end technology on the Qualcomm Snapdragon platform.
WRD 3.0 has secured design wins for nearly 30 models from OEMs including GAC Group and <a href="/company/chery">Chery</a>. It serves domestic users of brands including GAC’s Aion, Trumpchi, and Hyptec, as well as Chery’s Exeed. The company said the solution will gradually expand to other brands including Tiggo, Lepas, Omoda, and Jaecoo.
WeRide Genesis is also central to the company’s broader technology strategy. As a world model designed to generalize across scenarios, Genesis supports simulation across diverse urban road conditions, sensor perspectives, and vehicle configurations. It is compatible with algorithm training for autonomous driving products ranging from Level 2 and above.
Compared with traditional road testing, WeRide said Genesis may improve the efficiency of data collection, generation, and training for long-tail edge cases by thousands of times, while reducing data collection and labeling costs by 75%.
Goldman Sachs initiated coverage of WeRide with a “buy” rating and a price target of HKD 54.23 (USD 6.9). The bank said WeRide is positioned to benefit from growth in robotaxi service revenue, fleet expansion, and first-mover advantages in both domestic and overseas markets. It pointed to the company’s deployment progress in China and abroad as a foundation for further international expansion.
Goldman Sachs added that WeRide’s asset-light model has improved fleet deployment efficiency, while recurring service revenue has strengthened profitability. Continued technology iteration, operational optimization, and declining vehicle costs could further improve the economics of the robotaxi model, it said.
Huatai Securities reiterated its “buy” rating and set a price target of HKD 50 (USD 6.4). Huatai said it is optimistic about WeRide’s technological foresight and overseas first-mover advantage, adding that the company could become a strong target in physical AI and robotaxis, with a foundation for a valuation premium.
This <a href="https://xueqiu.com/2854806290/388694822">article</a> was adapted based on a feature originally written by and published on IPO Zaozhidao. KrASIA is authorized to translate, adapt, and publish its contents.
Note: HKD, RMB figures are converted to USD at rates of HKD 7.83 = USD 1 and RMB 6.81 = USD 1 based on estimates as of May 14, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

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