WeRide Inc. (WRD) Cash Flow Statement
Where WRD’s cash came from and went, 2025
December 31, 2025 · Chinese yuan- Cash from operations
- −CN¥1.32B
- Capital expenditures
- CN¥248.4M 36.3% of revenue
- Free cash flow
- −CN¥1.57B −229.4% margin
- Returned to shareholders
- —
- Change in cash
- CN¥2.40B cash at year-end CN¥6.67B
Drawn to scale: where the cash came from and how it was used. Hover for values.
WRD operating cash flow, capex and free cash flow
WRD cash flow trends, 2014–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | CN¥25.7M2014 | −CN¥1.32B2025 | — | |
| Capital expenditures | CN¥129.0M2014 | CN¥248.4M2025 | +7.6%/yr | |
| Free cash flow | −CN¥103.3M2014 | −CN¥1.57B2025 | — | |
| Free cash flow margin | −227.2%2014 | −229.4%2025 | −2.1 pts | |
| Stock-based compensation | CN¥129.9M2020 | CN¥450.0M2025 | +28.2%/yr | |
| Dividends paid | CN¥436.0M2017 | CN¥02025 | −100.0% | |
| Share buybacks (net) | CN¥564,0002017 | CN¥02025 | −100.0% | |
| Capex / revenue | 283.7%2014 | 36.3%2025 | −247.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WRD cash flow by activity
WRD net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
WRD cash flow statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −CN¥1.65B | −CN¥2.52B | −CN¥1.95B | −CN¥1.30B | −CN¥1.01B | −CN¥694.9M | CN¥49.9M | −CN¥47.1M | −CN¥30.0M | −CN¥14.4M |
| Depreciation & amortization | CN¥166.7M | CN¥101.1M | CN¥89.6M | CN¥86.6M | CN¥65.8M | CN¥58.3M | — | — | — | — |
| Stock-based compensation | CN¥450.0M | CN¥1.19B | CN¥931.8M | CN¥325.4M | CN¥56.0M | CN¥129.9M | — | — | — | — |
| Change in working capital | −CN¥275.8M | CN¥7.5M | −CN¥108.9M | −CN¥363.8M | −CN¥152.9M | CN¥57.6M | CN¥11.7M | −CN¥43.9M | CN¥10.4M | CN¥9.3M |
| Other non-cash items | −CN¥7.7M | CN¥626.8M | CN¥561.7M | CN¥579.9M | CN¥531.7M | CN¥235.1M | CN¥215.8M | CN¥113.2M | CN¥45.0M | CN¥30.8M |
| Cash from operating activities | −CN¥1.32B | −CN¥593.6M | −CN¥474.9M | −CN¥670.4M | −CN¥506.7M | −CN¥213.8M | CN¥277.4M | CN¥22.3M | CN¥25.4M | CN¥25.7M |
| Investing activities | ||||||||||
| Capital expenditures | −CN¥248.4M | −CN¥85.5M | −CN¥37.0M | −CN¥82.7M | −CN¥25.6M | −CN¥3.4M | −CN¥1.27B | −CN¥567.3M | −CN¥147.1M | −CN¥129.0M |
| Investments (net) | CN¥1.73B | CN¥325.5M | −CN¥546.9M | −CN¥2.20B | CN¥460.9M | −CN¥509.4M | — | — | — | — |
| Acquisitions & other investing | CN¥20.1M | CN¥85.5M | CN¥37.0M | CN¥82.7M | CN¥25.6M | CN¥3.4M | — | — | — | — |
| Cash from investing activities | CN¥1.51B | CN¥325.5M | −CN¥546.9M | −CN¥2.20B | CN¥460.9M | −CN¥509.4M | — | — | — | — |
| Financing activities | ||||||||||
| Dividends paid | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | −CN¥436.0M | — | — | — |
| Share repurchases & issuance (net) | CN¥0 | CN¥0 | −CN¥39.1M | −CN¥60.9M | −CN¥181.2M | −CN¥56.3M | −CN¥564,000 | — | — | — |
| Net borrowing (repayment) | CN¥197.5M | CN¥35.0M | −CN¥38.2M | −CN¥34.4M | −CN¥112.8M | — | — | — | — | — |
| Shares issued | CN¥2.11B | CN¥3.19B | CN¥527.8M | CN¥2.18B | CN¥2.78B | CN¥653.5M | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | −CN¥12.7M | −CN¥401.3M | −CN¥3.6M | CN¥96.6M | CN¥120.0M | CN¥139.7M | CN¥1.42B | CN¥505.3M | CN¥132.0M | CN¥114.6M |
| Cash from financing activities | CN¥2.30B | CN¥2.82B | CN¥447.0M | CN¥2.18B | CN¥2.60B | CN¥737.0M | CN¥986.6M | CN¥505.3M | CN¥132.0M | CN¥114.6M |
| Summary | ||||||||||
| Net change in cash | CN¥2.40B | CN¥2.61B | −CN¥572.5M | −CN¥491.9M | CN¥2.51B | CN¥3.4M | −CN¥2.9M | −CN¥40.0M | CN¥10.0M | CN¥11.3M |
| Cash at end of period | CN¥6.67B | CN¥4.27B | CN¥1.66B | CN¥2.23B | CN¥2.73B | CN¥212.6M | CN¥226,000 | CN¥3.1M | CN¥22.2M | CN¥12.2M |
| Free cash flow | −CN¥1.57B | −CN¥679.1M | −CN¥511.8M | −CN¥753.1M | −CN¥532.3M | −CN¥217.2M | −CN¥990.4M | −CN¥545.0M | −CN¥121.7M | −CN¥103.3M |
| Free cash flow margin | −229.4% | −188.0% | −127.4% | −142.8% | −385.2% | −1,194.0% | −231.8% | −428.0% | −341.7% | −227.2% |
| Capex / revenue | 36.3% | 23.7% | 9.2% | 15.7% | 18.6% | 18.5% | 296.8% | 445.5% | 412.9% | 283.7% |
| Operating cash flow / net income | — | — | — | — | — | — | 5.56 | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported; data from EODHD.
WRD cash generation
In fiscal 2025 (ended December 31, 2025), WeRide Inc. generated -CN¥1.3 billion of cash from operations and spent CN¥248.4 million on capital expenditures, leaving free cash flow of -CN¥1.6 billion, −229.4% of revenue. Cash and equivalents rose by CN¥2.4 billion over the year.
Related: WRD income statement, WRD balance sheet. See the WRD stock overview for the latest quote and news.
WRD cash flow FAQ
What is WeRide Inc.'s free cash flow?
WeRide Inc.'s free cash flow was -CN¥1.6 billion in fiscal 2025: -CN¥1.3 billion of operating cash flow minus CN¥248.4 million of capital expenditures It was -CN¥679.1 million a year earlier..
How much cash does WeRide Inc. generate from operations?
WeRide Inc. generated -CN¥1.3 billion of cash from operating activities in fiscal 2025.
How much does WeRide Inc. spend on capital expenditures?
WeRide Inc. spent CN¥248.4 million on capital expenditures in fiscal 2025, 36.3% of revenue, compared with CN¥85.5 million the year before.