WeRide Inc. (WRD) experienced a significant pre-market plunge of 5.32% on Wednesday, as the stock declined sharply ahead of the regular trading session.

The movement appears to be driven by the company's first-quarter earnings report, which showed a narrowed net loss of 1.14 Chinese renminbi per American depositary share compared to 1.38 renminbi a year earlier. While revenue increased to 114.1 million renminbi from 72.4 million renminbi in the prior-year period, representing 58% year-over-year growth, it fell short of the 138 million renminbi expected by analysts surveyed by FactSet.

This revenue miss overshadowed positive developments for the company, including WeRide's Wrd 3.0 becoming China's first four-time urban intelligent driving champion and the record quarterly revenue achievement.