According to the news from the Hong Kong Stock Exchange on October 8, Horizon Robotics, a leading company in smart automobile technology, conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with Goldman Sachs, Morgan Stanley, and China Securities Co.,Ltd. as its joint sponsors.

According to the prospectus, Horizon Robotics is a market-leading supplier of advanced driver assistance and high-level autonomous driving solutions for passenger vehicles, with proprietary software and hardware technology. The company's solutions integrate algorithms, specialized software, and processing hardware to provide core technology for advanced assistance and high-level autonomous driving, thereby enhancing the safety and experience of drivers and passengers.

Thanks to rapid technological development in recent years and surging consumer demand, advanced driver assistance features are becoming increasingly common in today's vehicles. According to data from Insight Consultancy, the penetration rates of advanced driver assistance in both global and Chinese markets will exceed 50% in 2023. The global market for advanced driver assistance and high-level autonomous driving solutions reached 61.9 billion yuan in 2023, and is expected to grow to 1,017.1 billion yuan by 2030 at a compound annual growth rate of 49.2%, according to data from Insight Consultancy.

According to Insight Consultancy, since the large-scale production of solutions in 2021, Horizon Robotics is the first and largest Chinese company providing front-loading mass-produced advanced driver assistance and high-level autonomous driving solutions annually. Based on the total installed capacity of solutions in 2023 and the first half of 2024, Horizon Robotics ranks fourth among all global providers of advanced driver assistance and high-level autonomous driving solutions in China, with market shares of 9.3% and 15.4% respectively.

As a second-tier supplier, Horizon Robotics has a large global customer base, including industry-leading OEMs and domestic automotive first-tier suppliers. As a market leader, Horizon Robotics seizes the enormous development opportunities in the industry, experiencing significant scale growth in business over the past three years. As of September 20, 2024, Horizon Robotics' integrated software and hardware solutions have been adopted by 27 OEMs (42 OEM brands) and equipped in over 285 vehicle models.

In terms of finances, Horizon Robotics achieved revenue of nearly 1.6 billion yuan in 2023, with a compound annual growth rate of 82.3% over the past three years, achieving scalable growth. In 2023, the total revenue generated by the top five customers of Horizon Robotics was 1.067 billion yuan, accounting for 68.8% of the revenue. Leading new energy vehicle manufacturer in China, NIO, is also an important customer of Horizon Robotics. According to the prospectus, the Horizon Pilot has helped NIO's L9, L8, and L7 series establish a leading position in the intelligent automobile market in China.