Horizon Robotics passes IPO listing hearing with Hong Kong Stock Exchange

Published: Oct 9, 2024 16:45

Source: gasgoo

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On October 8, Horizon Robotics officially passed its listing hearing with the Hong Kong Stock Exchange (HKEX), marking the final step before its initial public offering (IPO).

Beijing (Gasgoo)- On October 8, Horizon Robotics officially passed its listing hearing with the Hong Kong Stock Exchange (HKEX), marking the final step before its initial public offering (IPO). The release of Horizon Robotics' PHIP prospectus on the HKEX website signals the company's imminent entry into the Hong Kong stock market.

Horizon Robotics specializes in providing advanced software and hardware solutions for driver assistance and autonomous driving systems. Its key intelligent driving solutions include the Horizon Mono for advanced driver assistance systems (ADAS), the Horizon Pilot for highway navigation on autopilot (NOA), and the Horizon SuperDrive for high-level autonomous driving, which is expected to enter mass production in 2026. These offerings cater to a range of customer needs from mainstream ADAS to autonomous driving.

As of its IPO filing, Horizon Robotics' integrated solutions have been adopted by 42 auto brands from 27 automobile manufacturers and are installed in 290 vehicle models. Notably, all of China's top ten automakers have selected the company's intelligent driving solutions.

Horizon Robotics' financial performance has steadily improved. From 2021 to 2023, its annual revenue grew from 467 million yuan to 1.552 billion yuan, reflecting a compound annual growth rate of 82.3%. Gross profit during this period rose from 331 million yuan to 1.094 billion yuan, maintaining a healthy gross margin of around 70.5% in 2023. In the first half of 2024, the company reported semi-annual revenue of 935 million yuan, indicating a 151.6% year-on-year soar, with a gross margin of 79%.

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