WeRide agrees to a conditional RMB 70 million Jingshuo raise

WeRide's Oct. 29 Form 6-K says Jingshuo, then an indirectly wholly owned subsidiary, signed a capital-increase agreement on Oct. 28. Ningbo Yongyuan, Primus Vesalius and Sirius Luhong agreed to pay RMB 70 million for RMB 4 million of registered capital, subject to conditions, with payment due after those conditions are met or waived. The filing says that stake is about 3.38 percent only after the subscription and full use of an equity-incentive scheme. If both are completed, WeRide's interest would fall from 100 percent to about 67.63 percent and Jingshuo would stay consolidated. The filing does not say the round has closed.