<div id="readability-page-1"><div>CLSA issued a report noting that fleet expansion plans of autonomous taxi operators in Mainland China are progressing steadily, despite setbacks in domestic licensing and temporary disruptions to operations in the Middle East. The broker lowered its US TP for Pony AI Inc. (PONY.US) from USD20 to USD16, while maintaining the US TP for WeRide Inc. (WRD.US) at USD11. CLSA also initiated coverage on the H shares of PONY-W (02026.HK) +5.350 (+6.679%) Short selling $11.17M; Ratio 33.102% and WERIDE-W (00800.HK) +0.460 (+2.193%) Short selling $2.74M; Ratio 7.389% , assigning both an Outperform rating with TPs of HKD125 and HKD29, respectively. Both stocks may be included in the Shanghai-Shenzhen-Hong Kong Stock Connect on June 4, potentially attracting new capital inflows.In addition, the broker said HORIZONROBOT-W (09660.HK) +0.040 (+0.737%) Short selling $163.32M; Ratio 30.796% requires a clearer development roadmap to support its long-term value. Amid declining auto sales and market concerns over the total addressable market (TAM) accessible to third-party autonomous driving suppliers, CLSA lowered its TP for the company from HKD11 to HKD9, while maintaining an Outperform rating.(da/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-02 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)</div></div>

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CLSA initiated coverage on Pony AI and WeRide H-shares with 'Outperform' ratings, citing steady autonomous taxi fleet expansion in China. The broker cut Horizon Robotics' target price to HKD9 due to declining auto sales and TAM concerns, while maintaining its rating. CLSA also lowered Pony AI's US target price to USD16 but kept WeRide's at USD11. Potential inclusion in Stock Connect may drive capital inflows.

AASTOCKS News

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CLSA Initiates PONY-W  and WERIDE-W at Outperform; Cuts HORIZONROBOT-W TP to HKD9