Horizon Robotics Ushers in a New Era in Smart Driving Technology with Hong Kong Stock Exchange Listing
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As the global automotive industry pivots toward smart vehicle transformation and with the accelerating trend towards autonomous driving, the global market for advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions is thriving. Founded in 2015 and guided by its vision of empowering every passenger vehicle with smart driving solutions, Horizon Robotics (9660.HK) has become a leading provider of smart driving solutions for passenger vehicles.
On October 24, Horizon Robotics was officially listed on the Main Board of the Hong Kong Stock Exchange at an issue price of HK$3.99. This initial public offering garnered significant attention from investors who are attracted to Horizon’s key competitive advantages, namely its leading expertise in the China market, fully integrated suite of software and hardware solutions, robust base of loyal blue-chip customers, thriving ecosystem, and scalable business model.
High-profile cornerstone investors, including Alibaba and Baidu, further boosted market confidence, underscoring Horizon’s strong value proposition. The company’s flexible and scalable business model creates significant consumer value and is able to consistently meet evolving market needs, positioning Horizon for long-term growth.
Innovative Software-Hardware Integration: Leading Mass Production in Smart Driving
As an essential component of the smart vehicle value chain, the demand for ever more effective and efficient smart driving solutions is projected to experience substantial growth in the years ahead. According to CIC (China Insights Consultancy), the global market for ADAS and AD solutions is expected to surge from RMB61.9 billion in 2023 to RMB1,017.1 billion by 2030, reflecting a compound annual growth rate (CAGR) of 49.2%. In China, this market was worth RMB24.5 billion in 2023 and is estimated to grow at a CAGR of 49.4% to RMB407.0 billion by 2030.
