At the 2025 Sohn Hong Kong Conference, Wanyi Yao, Founding Partner & CIO at Apeiron Capital, presented a compelling investment case for a Chinese mobility stock, focusing on the “significant valuation gap” she sees between the company and its global peer, Uber. Yao vividly illustrates this gap by comparing the value Wall Street assigns to a ride across town in New York versus a similar ride in Beijing, describing it as a “chasm” of difference that represents the investment opportunity.
Prior to founding Apeiron Capital, Yao worked at Investec Asset Management, and Baillie Gifford, helping launch the later’s expansion into Asia.
See our interview with Wanyi Yao here.
2025 Sohn Hong Kong Conference – Apeiron Capital’s Wanyi Yao
Yao emphasizes the stocks immense scale and market dominance. She calls it the “world’s biggest mobility platform,” orchestrating a massive 46 million rides daily – a volume exceeding that of Uber, Lyft, and DoorDash combined. The company connects nearly 700 million users and 32 million drivers across 15 countries. Its market position is particularly strong in China, where it holds a 75% market share, and it is also pushing towards a 40% share in countries like Brazil and Mexico.
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