Stock Track | WeRide Plummets 9.04% Intraday on Compliance Disclosure Delay for Related-Party Transactions

Stock Track04-24 09:32

WeRide Inc.'s stock (WERIDE-W) plummeted 9.04% during intraday trading on Friday, following the disclosure of a compliance lapse related to connected transactions with a related party.

The company acknowledged a delay in announcing a revision to the 2025 annual spending cap under its Mapping and Data Services Procurement Framework Agreement with Guangzhou Yuji Technology Co., Ltd. The cap was raised to RMB 69 million from RMB 65 million due to higher-than-expected demand from expanding autonomous driving operations, but the change approved in November 2025 was not disclosed until April 2026.

WeRide attributed the disclosure delay to staff unfamiliarity with Hong Kong Listing Rule requirements. Guangzhou Yuji qualifies as a connected person because it is controlled by Ming Han, the brother of WeRide's chairman and CEO, Dr. Tony Xu Han. The company has instituted remedial measures including enhanced compliance training and quarterly monitoring of connected-transaction spending.

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