Horizon Robotics, a Chinese intelligent driving technology company

Horizon Robotics (stock code: 9660.HK), an intelligent driving technology company, was listed on the main board of the Hong Kong Stock Exchange, raising a total of HK$5.4 billion, becoming the largest technology IPO in Hong Kong stocks in 2024.

Since its establishment in 2015, Horizon Robotics has focused on the research and development of intelligent driving technology and is committed to promoting the commercial application of intelligent driving in the field of passenger cars in China. As a market-leading supplier of advanced driver assistance (ADAS) and advanced autonomous driving (AD) solutions for passenger cars, Horizon Robotics' solutions integrate leading algorithms, dedicated software and advanced processing hardware to provide core technologies for advanced driver assistance and advanced autonomous driving.

Horizon Robotics focuses on product technology research and development and iterative upgrades, and continues to increase R&D investment. The company currently has more than 2,000 employees, with R&D personnel accounting for more than 70%, bringing together top R&D talents in algorithms, software and hardware.

Horizon Robotics recorded revenues of approximately RMB 467 million, RMB 906 million, and RMB 1.552 billion in 2021, 2022, and 2023, respectively, with a compound annual growth rate of 82.3%; in the first half of 2024, the company recorded revenues of approximately RMB 935 million, a year-on-year increase of 151.6%.

Against the backdrop of the rapid development of intelligent driving technology, the penetration rate of intelligent driving in new passenger cars worldwide will reach 65.6% in 2023. It is expected that by 2026 and 2030, the sales of smart cars will further increase, with penetration rates reaching 80.3% and 96.7%, respectively. As the world's largest new passenger car market, China's new passenger car intelligent driving penetration rate in 2023 will reach 57.1%.

Dr. Kai Yu, founder and CEO of Horizon Robotics, is an internationally renowned machine learning expert and a major promoter of deep learning technology in China.