Horizon Robotics successfully went public on the Hong Kong Stock Exchange, marking its emergence as a leader in smart driving solutions.

Information on the Target

Horizon Robotics (stock code: 9660.HK), a company backed by Junlian Capital, successfully debuted on the Hong Kong Stock Exchange on October 24, 2024. The company aimed to globally issue 1,355,106,600 shares, with 135,511,200 shares allocated for public offering in Hong Kong, representing approximately 10% of the total, and 1,219,595,400 shares designated for international placement, accounting for roughly 90%. The company also has an over-allotment option of 15%. Upon listing, shares were priced at HKD 5.45, marking a 36.59% increase on the first day of trading, leading to a market capitalization exceeding HKD 71 billion.

Established in July 2015 by Dr. Yu Kai, who has a substantial background in computer engineering, Horizon Robotics has emerged as a leading supplier of Advanced Driver Assistance Systems (ADAS) and high-level autonomous driving (AD) solutions. The company’s product range includes the Journey family of chips, widely utilized in the smart driving sector. Leveraging a robust deployment of production solutions, Horizon Robotics has become a pivotal player in the transformation and commercialization of smart automobiles.

Industry Overview in the Target’s Specific Country

The automotive industry in China has witnessed rapid growth and transformation, particularly in the realm of smart and connected vehicles. As of 2021, the market has expanded to incorporate advanced technologies,