Set sail on a new journey! Horizon officially listed on the main board of the Hong Kong Stock Exchange.
On October 24, autonomous driving technology company Horizon Robotics (stock code:$HORIZONROBOT-W(9660.HK)) officially listed on the main board of the Hong Kong Stock Exchange, raising a total of HKD 5.4 billion, making it the largest tech IPO in Hong Kong this year.
Horizon Robotics Hong Kong Listing Celebration Ceremony
Important guests including Sun Dong, Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region, Deputy Secretary Zhang Manli, and HKEX Listing Committee representative Ms. Fang Xiaoming attended the listing ceremony. Together with Horizon Robotics founder and CEO Dr. Yu Kai, co-founder and CTO Dr. Huang Chang, co-founder and COO Ms. Tao Feiwen, president Dr. Chen Liming, non-executive directors Mr. Liu Qin and Mr. Li Liang, and SAIC Group vice president Mr. Wei Yong, they witnessed this milestone moment.
Horizon Robotics Founder and CEO Dr. Yu Kai Rings the Opening Bell
At 9:30 AM, Dr. Yu Kai walked to the center of the stage and rang the opening bell, officially marking Horizon Robotics' listing. From this moment, Horizon Robotics became an autonomous driving technology company entering the international capital markets.
In his listing ceremony speech, Dr. Yu Kai said: "Founded in 2015, Horizon Robotics is the first and currently the largest Chinese company to mass-produce autonomous driving solutions. After nine years of effort, we have become the preferred partner for many automakers in China's intelligent transformation and an important driving force in the automotive intelligence revolution. The completion of our Hong Kong listing marks a critical step toward the international market."
Horizon Robotics Founder and CEO Dr. Yu Kai Delivers a Speech
Based on the forward-looking strategic vision of "Wintel of the Robotics Era," Horizon Robotics, with its industry-leading full-stack autonomous driving technology combining software and hardware, has completed a large-scale mass-production commercial loop and grown into the most commercially valuable and growth-potential autonomous driving technology company. According to CIC data, since 2021, Horizon Robotics has been the first and largest Chinese company providing mass-produced advanced driver-assistance systems (ADAS) and autonomous driving (AD) solutions by total installed solutions. To date, Horizon Robotics' integrated software-hardware solutions have been adopted by 27 OEMs (42 OEM brands) and equipped in 290 vehicle models, with all top 10 Chinese OEMs choosing Horizon Robotics' autonomous driving solutions.
Focusing on Autonomous Driving Industry, Sustaining Positive Development
Since its founding in 2015, Horizon Robotics has focused on autonomous driving technology R&D, committed to promoting the commercialization of autonomous driving in China's passenger vehicle sector. As a leading supplier of ADAS and AD solutions for passenger vehicles, Horizon Robotics' solutions integrate cutting-edge algorithms, specialized software, and advanced processing hardware, providing core technology for ADAS and AD.
Horizon Journey (®) is the largest mass-produced onboard intelligent computing solution in China, with cumulative shipments exceeding 6 million units. Empowered by Horizon Journey (®), Horizon Mono(™), Horizon Pilot(™), and Horizon SuperDrive(™) autonomous driving solutions meet the full-range, full-scenario mass-production needs of intelligent vehicles.
Guided by the mission of "Empowering Autonomous Driving to Make Human Life Safer and Better," Horizon Robotics is committed to creating value for users through technological innovation and delivering unparalleled mobility experiences. To this end, Horizon Robotics focuses on product technology R&D and iterative upgrades, continuously increasing R&D investment to ensure technological leadership and product competitiveness. The company currently has over 2,000 employees, with R&D personnel accounting for more than 70%, gathering top talent in algorithms, software, and hardware. Core team members have won over 20 global first-place awards in international competitions and have developed products and services impacting hundreds of millions of users in autonomous driving, search advertising, voice search, image search, and parallel computing.
With the explosive growth of the intelligent vehicle market, Horizon Robotics has seized significant industry opportunities, achieving substantial revenue growth. In 2021, 2022, and 2023, the company recorded revenues of approximately RMB 467 million, RMB 906 million, and RMB 1.552 billion, respectively, with a CAGR of 82.3%. In the first half of 2024, the company recorded revenue of approximately RMB 935 million, a year-on-year increase of 151.6%, demonstrating robust sustainable development.
Full-Stack Technology Deployment, Leading the Market Efficiently
Against the backdrop of rapid autonomous driving technology development, global new passenger vehicles' autonomous driving penetration rate reached 65.6% in 2023. By 2026 and 2030, intelligent vehicle sales are expected to grow further, with penetration rates reaching 80.3% and 96.7%, respectively. China, as the world's largest new passenger vehicle market, saw a 57.1% autonomous driving penetration rate in new passenger vehicles in 2023. According to CIC data, China's intelligent vehicle market penetration is expected to reach 81.2% and 99.7% by 2026 and 2030, respectively, indicating sustained rapid growth.
As autonomous driving penetration continues to rise, consumer demand for autonomous driving grows, making intelligent configurations a key factor in car-buying decisions. Meanwhile, favorable policies promoting intelligent vehicles in China and abroad have injected strong momentum into the autonomous driving market, highlighting immense growth potential and an impending market boom.
As the first autonomous driving technology company to propose and implement a software-hardware integration approach, Horizon Robotics possesses full-stack autonomous driving development capabilities. In April 2024, it launched the next-generation onboard intelligent computing solution Journey®6 series and Horizon SuperDrive™ full-scenario autonomous driving solution. Leveraging software-hardware integration advantages, refined systems engineering capabilities, and human-centric product philosophy, Horizon Robotics delivers more efficient solutions for smarter, safer, and more efficient autonomous driving products.
Currently, Horizon Robotics has achieved remarkable success in autonomous driving, building a mature product matrix and full-stack technology to provide customers with end-to-end mass-production development support and platform services, accelerating development and deployment efficiency, and fostering industry growth. Guided by the "Open Collaboration, Comprehensive Altruism" philosophy, Horizon Robotics has partnered with over 200 upstream and downstream industry players, transforming its innovative technology and breakthrough solutions into greater industry value and nurturing the intelligent vehicle ecosystem.
With industry-leading full-stack autonomous driving technology, Horizon Robotics has become the ideal partner for automotive intelligence transformation through its highly flexible and scalable business model. After nine years of steadfast exploration in autonomous driving solutions, Horizon Robotics' successful HKEX listing marks a key milestone in its history and a testament to its focus on user value and core technology breakthroughs. This listing is a new starting point. Moving forward, Horizon Robotics will continue to increase R&D investment, deepen industry collaboration, and drive technological breakthroughs to create more value for the era, users, and investors, collectively building a safer, more convenient, and smarter future of mobility.
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