Horizon Robotics Officially Went Public in Hong Kong
On October 24th, Horizon Robotics officially landed on the Hong Kong Stock Exchange for listing. In this IPO, the issue price was 3.99 Hong Kong dollars per share, and the stock opened with a surge of over 33%, reaching a market value of over 70 billion Hong Kong dollars at one point.
Since its establishment in 2015, Horizon Robotics has received investments from well-known institutions such as Hillhouse Capital, Sequoia China, Linear Capital, ZhenFund, Fosun Group, SAIC Motor, GAC Capital, Great Wall Motors, Chery Automobile, FAW Group, BYD, CATL, and many other capital and industrial chain enterprises in the automotive industry.
As the first and largest provider of mass-produced advanced driver assistance and high-level autonomous driving solutions in China, Horizon Robotics’ integrated hardware and software solutions have partnered with 27 OEMs (Original Equipment Manufacturers) comprising 42 brands. They have targeted 290 vehicle models, with a cumulative total of 152 models reaching SOP (Start of Production). All top ten Chinese OEMs have selected Horizon Robotics’ solutions for mass production in their passenger vehicle models.
This is the largest technology IPO on the Hong Kong stock market this year. Dr. Yu Kai, the founder and CEO of Horizon Robotics, stated in his speech at the listing ceremony, “After nine years of hard work, we have become the preferred partner for many automotive brands in China to deploy intelligence and a significant driving force in the automotive intelligence revolution. The completion of this Hong Kong listing signifies a crucial step for us towards the international market.” Dr. Yu Kai graduated from Nanjing University and later pursued his Ph.D. at the University of Munich. He transitioned from a scientist to an entrepreneur after working with several industry giants.
Currently, Horizon Robotics offers a range of advanced driver assistance and high-level autonomous driving solutions, including Horizon Mono, Horizon Pilot, and Horizon SuperDrive, to meet various customer needs from mainstream advanced driver assistance to high-level autonomous driving. These solutions cover all scenarios, including urban areas, highways, and parking.
