HORIZONROBOT-W: ANNUAL RESULTS ANNOUNCEMENTFOR THE YEAR ENDED DECEMBER 31, 2024ANDPROPOSED AMENDMENTS TO THE MEMORANDUMAND ARTICLES OF ASSOCIATION

Horizon's performance in 2024 is impressive, with revenue increasing by 53.6% year-on-year to 2.38 billion yuan, gross profit rising by 68.3% to 1.84 billion yuan, and a net profit of 2.35 billion yuan for the year, marking a turnaround from a loss of 6.74 billion yuan in 2023. Among these, revenue from licensing and service business surged by 70.9% to 1.65 billion yuan, accounting for 69.1% of total revenue.The company holds a market share of over 40% in the advanced driver-assistance systems market, solidifying its market leadership. In 2024, the delivery volume of product solutions reached approximately 2.9 million units, with a cumulative delivery volume of 7.7 million units, and more than 100 new vehicle models were designated, increasing the total number of designated models to over 310. R&D investment continues...Show More

Horizon's performance in 2024 is impressive, with revenue increasing by 53.6% year-on-year to 2.38 billion yuan, gross profit rising by 68.3% to 1.84 billion yuan, and a net profit of 2.35 billion yuan for the year, marking a turnaround from a loss of 6.74 billion yuan in 2023. Among these, revenue from licensing and service business surged by 70.9% to 1.65 billion yuan, accounting for 69.1% of total revenue.The company holds a market share of over 40% in the advanced driver-assistance systems market, solidifying its market leadership. In 2024, the delivery volume of product solutions reached approximately 2.9 million units, with a cumulative delivery volume of 7.7 million units, and more than 100 new vehicle models were designated, increasing the total number of designated models to over 310. R&D investment continues to grow, with annual R&D expenditure reaching 3.16 billion yuan, an increase of 33.4% year-on-year.Looking ahead to 2025, the company’s next-generation advanced driver-assistance and high-level autonomous driving solutions will be equipped in more vehicle models, with expected cumulative shipments of the Journey series processing Hardware surpassing 10 million units. The high-level autonomous driving business HSD has been designated for integration by several leading automakers, with mass production expected to begin in the third quarter of 2025. The company will continue to enhance HSD performance to address more complex driving scenarios, providing a more human-like driving experience.