Anuncio • May 20
Horizon Robotics, Annual General Meeting, Jun 10, 2026 Horizon Robotics, Annual General Meeting, Jun 10, 2026, at 14:00 China Standard Time. Noticias en vivo • May 20
Horizon Robotics Faces Investor Caution as Losses Deepen and Profitability Remains Elusive Horizon Robotics shares declined between 3.5% and 4.95% after the company reported widening losses and continued cash burn.
The company recorded a net loss per share of 0.93 and a net profit margin of 2.81% in the red, reinforcing concerns about its path to profitability.
Investors are watching the August earnings report for more detail on how management plans to commercialize its advanced driver assistance systems, while an external analyst assigned the stock a C+ rating and pointed to limited near-term upside.
The core issue is whether Horizon Robotics can convert its position in autonomous driving technology into commercial scale fast enough to ease cash burn and move closer to break-even.
Until there is clearer evidence of improving margins or stronger monetization of its driver assistance offerings, the stock may continue to be viewed as a higher-risk play within the sector. Recent Insider Transactions • May 06
Board Member recently sold HK$2.1m worth of stock On the 29th of April, Jian Xu sold around 293k shares on-market at roughly HK$7.25 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$3.0m more than they bought in the last 12 months. Reported Earnings • May 05
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: CN¥0.81 loss per share (down from CN¥0.51 profit in FY 2024). Revenue: CN¥3.76b (up 58% from FY 2024). Net loss: CN¥10.5b (down CN¥12.8b from profit in FY 2024). Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) missed analyst estimates by 118%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Software industry in Hong Kong. Major Estimate Revision • Mar 26
Consensus EPS estimates fall by 49%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from CN¥6.00b to CN¥6.11b. Forecast EPS reduced from -CN¥0.15 to -CN¥0.223 per share. Software industry in Hong Kong expected to see average net income growth of 85% next year. Consensus price target broadly unchanged at HK$12.05. Share price fell 5.5% to HK$6.85 over the past week. Reported Earnings • Mar 20
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: CN¥0.81 loss per share (down from CN¥0.51 profit in FY 2024). Revenue: CN¥3.76b (up 58% from FY 2024). Net loss: CN¥10.5b (down CN¥12.8b from profit in FY 2024). Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) missed analyst estimates by 118%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Software industry in Hong Kong. Anuncio • Mar 05
Horizon Robotics to Report Fiscal Year 2025 Results on Mar 19, 2026 Horizon Robotics announced that they will report fiscal year 2025 results on Mar 19, 2026 Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$7.45, the stock trades at a trailing P/E ratio of 43.6x. Average forward P/E is 42x in the Software industry in Hong Kong. Total loss to shareholders of 18% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$3.22 per share. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$8.98, the stock trades at a trailing P/E ratio of 54x. Average forward P/E is 27x in the Software industry in Hong Kong. Total returns to shareholders of 126% over the past year. Anuncio • Oct 10
Horizon Robotics has completed a Follow-on Equity Offering in the amount of HKD 6.383898 billion. Horizon Robotics has completed a Follow-on Equity Offering in the amount of HKD 6.383898 billion.
Security Name: Class B Ordinary Shares
Security Type: Common Stock
Securities Offered: 639,028,800
Price\Range: HKD 9.99
Transaction Features: Subsequent Direct Listing Reported Earnings • Sep 30
First half 2025 earnings released: CN¥0.42 loss per share (vs CN¥1.81 loss in 1H 2024) First half 2025 results: CN¥0.42 loss per share. Revenue: CN¥1.57b (up 68% from 1H 2024). Net loss: CN¥5.23b (loss widened 2.6% from 1H 2024). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Software industry in Hong Kong. Anuncio • Sep 27
Horizon Robotics has filed a Follow-on Equity Offering in the amount of AUD 6.383898 billion. Horizon Robotics has filed a Follow-on Equity Offering in the amount of AUD 6.383898 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 639,028,800
Price\Range: AUD 9.99
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$9.63, the stock trades at a trailing P/E ratio of 55.3x. Average forward P/E is 31x in the Software industry in Hong Kong. Reported Earnings • Aug 28
First half 2025 earnings released: CN¥0.42 loss per share (vs CN¥1.81 loss in 1H 2024) First half 2025 results: CN¥0.42 loss per share. Revenue: CN¥1.57b (up 68% from 1H 2024). Net loss: CN¥5.23b (loss widened 2.6% from 1H 2024). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Hong Kong. Anuncio • Aug 15
Horizon Robotics to Report First Half, 2025 Results on Aug 27, 2025 Horizon Robotics announced that they will report first half, 2025 results on Aug 27, 2025 Buy Or Sell Opportunity • Jul 30
Now 22% undervalued Over the last 90 days, the stock has risen 6.4% to HK$6.97. The fair value is estimated to be HK$8.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 29% per annum. Earnings are forecast to decline by 3.0% per annum over the same time period. Buy Or Sell Opportunity • Jun 23
Now 20% overvalued Over the last 90 days, the stock has fallen 12% to HK$6.37. The fair value is estimated to be HK$5.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 29% per annum. Earnings are forecast to decline by 1.0% per annum over the same time period. Anuncio • Jun 13
Horizon Robotics has filed a Follow-on Equity Offering in the amount of HKD 4.71933 billion. Horizon Robotics has filed a Follow-on Equity Offering in the amount of HKD 4.71933 billion.
Security Name: Class B Ordinary Shares
Security Type: Common Stock
Securities Offered: 681,000,000
Price\Range: HKD 6.93
Transaction Features: Subsequent Direct Listing New Risk • May 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Anuncio • May 19
Horizon Robotics, Annual General Meeting, Jun 10, 2025 Horizon Robotics, Annual General Meeting, Jun 10, 2025, at 14:00 China Standard Time. Location: conference hall 06, 2/f, building 10w, 10 science park west avenue., Hong Kong Recent Insider Transactions • May 10
President & Executive Director recently sold HK$1.1m worth of stock On the 2nd of May, Liming Chen sold around 154k shares on-market at roughly HK$7.02 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Liming has been a net seller over the last 12 months, reducing personal holdings by HK$1.1m. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$6.47, the stock trades at a trailing P/E ratio of 34.1x. Average trailing P/E is 25x in the Software industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$4.32 per share. Reported Earnings • Apr 23
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: CN¥0.51 (up from CN¥2.50 loss in FY 2023). Revenue: CN¥2.38b (up 54% from FY 2023). Net income: CN¥2.35b (up CN¥9.09b from FY 2023). Profit margin: 98% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Software industry in Hong Kong. Anuncio • Apr 19
Horizon Robotics Rolls Out HSD Urban Driving Assistance System for Mass Production, Global Debut with Chery Automobile Scheduled for September Horizon Robotics hosted its 2025 Annual Product Launch Event in Shanghai, officially unveiling the mass production rollout of its HSD (Horizon SuperDrive™?) urban driving assistance system. At the event, Horizon Robotics and Chery Automobile also announced that HSD will make its global mass-production debut with Chery's EXEED in September 2025. The HSD urban driving assistance system is built on the company's signature software and hardware co-optimization capabilities. Powered by Horizon's Journey™? 6 processing hardware and an innovative end-to-end architecture, HSD simulates human driving behavior to provide a truly human-like experience. It enables safe, efficient, comfortable, and reliable travel experiences for both drivers and passengers. To meet diverse market demands, Horizon launched three versions of its HSD system, offering advanced driving assistance capabilities suitable for vehicles ranging from entry-level to premium models. Developed entirely in-house and optimized for mass production, the HSD family redefines efficiency and scalability. Additionally, Horizon has introduced its breakthrough "Horizon Cell" with upgradable plug-and-play hardware. This modular approach offers OEM partners zero switching cost and maximum flexibility, making HSD a strategic enabler for accelerating the adoption of smart driving across all market segments. As a longstanding strategic partner of Chery Automobile, Horizon Robotics has empowered multiple vehicle models across Chery's four premium brands with its Journey series processing hardware since 2021. Building on the exceptional smart driving experiences of over 100,000 vehicle owners, the two companies announced that the HSD full-stack system is set to make its global debut in a new model under Chery's EXEED brand, with mass production scheduled to begin in September of this year. Beyond Chery Automobile, the Horizon Robotics and Volkswagen Group also recently announced further cooperation on advanced driving assistance systems based on HSD, leveraging R&D conducted by their joint venture CARIZON. Several Volkswagen vehicle models powered by CARIZON's technology are scheduled to enter production in 2026. Backed by its software and hardware co- optimization approach, a highly scalable business model and extensive experience in mass production, Horizon Robotics has built a robust ecosystem encompassing over 40 OEMs and car brands, including all the TOP 10 OEMs in China. So far, Horizon Robotics has secured over 310 design-wins across a wide range of passenger vehicles, with over 200 vehicle models now available in the market. As smart driving starts to become a standard feature across all vehicle models, Horizon remains committed to its human-centered company philosophy, striving to deliver energy-efficient and cost-optimized driving assistance solutions at scale and to bring safe, seamless, all-scenario smart mobility to drivers and passengers worldwide. Major Estimate Revision • Apr 09
Consensus EPS estimates upgraded to CN¥0.15 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -CN¥0.173 to -CN¥0.153 per share. Revenue forecast steady at CN¥3.60b. Software industry in Hong Kong expected to see average net income growth of 56% next year. Consensus price target of HK$9.92 unchanged from last update. Share price fell 7.9% to HK$5.60 over the past week. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$6.08, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 25x in the Software industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$8.99 per share. Buy Or Sell Opportunity • Mar 31
Now 26% undervalued Over the last 90 days, the stock has risen 85% to HK$6.67. The fair value is estimated to be HK$9.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 31% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Major Estimate Revision • Mar 28
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -CN¥0.154 to -CN¥0.185 per share. Revenue forecast unchanged at CN¥3.61b. Software industry in Hong Kong expected to see average net income growth of 60% next year. Consensus price target up from HK$9.37 to HK$9.92. Share price fell 3.0% to HK$7.36 over the past week. Reported Earnings • Mar 22
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: CN¥0.51 (up from CN¥2.50 loss in FY 2023). Revenue: CN¥2.38b (up 54% from FY 2023). Net income: CN¥2.35b (up CN¥9.09b from FY 2023). Profit margin: 98% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Software industry in Hong Kong. Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 70% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -CN¥0.096 to -CN¥0.164 per share. Revenue forecast unchanged at CN¥2.26b. Software industry in Hong Kong expected to see average net income growth of 52% next year. Consensus price target of HK$9.37 unchanged from last update. Share price fell 17% to HK$7.63 over the past week. Anuncio • Mar 11
Horizon Robotics to Report Fiscal Year 2024 Results on Mar 21, 2025 Horizon Robotics announced that they will report fiscal year 2024 results on Mar 21, 2025 New Risk • Jan 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-CN¥30b). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (CN¥176m net loss in 3 years). Share price has been volatile over the past 3 months (9.9% average weekly change). Major Estimate Revision • Jan 03
Consensus EPS estimates upgraded to CN¥0.07 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CN¥2.39b to CN¥2.29b. 2024 losses expected to reduce from -CN¥0.322 to -CN¥0.07 per share. Software industry in Hong Kong expected to see average net income growth of 61% next year. Consensus price target down from HK$5.50 to HK$5.37. Share price fell 5.5% to HK$3.60 over the past week. Breakeven Date Change • Dec 31
Forecast to breakeven in 2027 The 6 analysts covering Horizon Robotics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CN¥545.8m in 2027. Average annual earnings growth of 77% is required to achieve expected profit on schedule. New Risk • Dec 02
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: CN¥9.9b Forecast net loss in 3 years: CN¥137m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-CN¥30b). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (CN¥137m net loss in 3 years). Board Change • Oct 25
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Director Katherine Xin was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. 
