The analyst rating from BOCI for WERIDE-W (00800.HK) is maintained at "Buy" due to several key factors:
1. Strong Revenue Growth: The forecast indicates over 70% quarter-on-quarter revenue growth in 4Q25, driven by the expanding Robotaxi business and seasonal increases in Robobus sales.
2. Fleet Expansion: The expectation that WERIDE-W's Robotaxi fleet will exceed 2,000 vehicles by the end of the year, with potential growth to 3,000 vehicles, highlights the company's aggressive expansion strategy, particularly in key markets like Guangzhou and Beijing.
3. International Strategy: The focus on international markets, especially the Middle East, and strategic partnerships (e.g., with Uber) for deploying Robotaxis further supports the company's growth prospects.
4. Solid Fundamentals and Execution Capability: BOCI notes the company's strong fundamentals and proven ability to execute fleet deployment overseas, which contributes to a clearer path to profitability in international markets.
These factors collectively justify BOCI's positive outlook and "Buy" rating for WERIDE-W, despite a reduction in the target price for its US stock.
