Wetour Robotics Ltd (NASDAQ: WETO)

Wetour Robotics Ltd is a holding company that conducts a mobility as a service business through its subsidiaries and variable interest entity in China and its wholly owned subsidiary Wetour in the United States. The company offers packaged tour services customized chartered bus services and commuter shuttle services to corporate and leisure travelers worldwide. Its operations are supported by digital platforms that integrate booking dispatch and customer support. The company was incorporated in the Cayman Islands and uses a variable interest entity structure to operate in China while complying with local foreign investment restrictions.

Wetour Robotics Ltd generates revenue primarily from three service lines packaged tour service customized chartered bus service and commuter shuttle service. Packaged tour service provides all inclusive travel packages that include transportation accommodation sightseeing guides meals and other arrangements. For the fiscal years ended June 30 2023 2024 and 2025 the company recorded packaged tour revenue of RMB81 038 722 RMB33 391 854 and RMB32 039 060 equivalent to USD4 472 481 respectively. Customized chartered bus service offers flexible group transportation ranging from one day trips to multi week tours generating revenue of RMB63 654 231 RMB10 730 641 and RMB3 022 802 equivalent to USD421 966 over the same period. Commuter shuttle service provides daily employee transportation for corporate clients under contract with revenue of RMB9 507 054 RMB1 853 926 and RMB531 193 equivalent to USD74 152 for the three fiscal years. In addition the company earns fees from its online platforms through commissions and service charges when bookings are made via its WeChat mini programs mobile apps and websites. Revenue is derived from both domestic Chinese customers and overseas travelers with a growing share coming from international markets. Overseas revenue accounted for approximately 9.5% of total revenue in the fiscal year ended June 30 2023 72.3% in the fiscal year ended June 30 2024 and 79.1% in the fiscal year ended June 30 2025.

The company operates through the following segments: Packaged Tour Service Customized Chartered Bus Service and Commuter Shuttle Service.

• Packaged Tour Service: This segment designs and sells all inclusive travel packages that combine chartered bus transportation accommodation sightseeing guides meals itinerary planning and travel insurance for individual and group travelers seeking business or leisure experiences.

• Customized Chartered Bus Service: This segment provides flexible group transportation using buses and coaches for trips ranging from one day to several weeks serving corporate events school outings leisure tours and private charters with options for driver guide and vehicle selection.

• Commuter Shuttle Service: This segment offers daily employee shuttle services for corporate clients featuring route optimization real time boarding data background heat map analysis and contract based operations that allow adjustment of shifts and pick up drop off sites.

Wetour Robotics Ltd operates in a highly fragmented online collective mobility market in China where approximately a hundred platforms compete for customers. The market is divided into self operated platforms that own or lease fleets and generate revenue from transportation fares and dealmaking facilitation platforms that match demand with supply and earn fees from booking services. Wetour Robotics Ltd differentiates itself through a high degree of digitalization an integrated network of industry resources user centered services and a highly customizable product offering. Its competitive advantages include a proprietary AI augmented dispatch system a large fleet of more than 11 000 dispatchable vehicles in mainland China and around 10 000 drivers providing customized chartered bus services overseas strong partnerships with major online travel agencies such as Ctrip Fliggy Tongcheng and Xiaohongshu and a management team with extensive experience in travel and chartered vehicle services worldwide. The company also benefits from its brand recognition in the Hangzhou market where it holds first class agency status for the Songcheng Scenic Area and star hotel contracting level for major hotels.

Wetour Robotics Ltd serves a diverse customer base that includes corporate clients such as industrial parks enterprises in Zhejiang and schools as well as families individuals and travel agencies. Specific customers and partners mentioned in the filing include Hangzhou Songcheng Scenic Area Oaks Crowne Plaza Cordis Hotel InterContinental Ctrip Fliggy Tongcheng Xiaohongshu Expedia gotobus Alaska Skylar Travel LLC Alaska Aurora Travel LLC Viator Partner Mei Tour and various local fleet drivers and tourist guides worldwide. The company also works with large traditional travel agencies and online platforms around the world to broaden its reach and provide customized travel solutions to Chinese speaking customers across multiple continents. As of June 30 2025 the company employed 30 individuals across management administration customer service sales marketing finance and product development.