Core Viewpoint - Baillie Gifford & Co increased its stake in Horizon Robotics by acquiring 24.7794 million H-shares at an average price of HKD 7.5603 per share, totaling approximately HKD 187 million, raising its ownership from 4.79% to 5.00% [2][3]. Group 1: Investment Activity - The acquisition by Baillie Gifford reflects renewed confidence from global capital in Horizon Robotics' position within the intelligent driving industry [2]. - Following the increase, Baillie Gifford's total holdings in Horizon Robotics reached 588.235 million shares, confirming institutional confidence in the company's strategic advantages [2][3]. Group 2: Company Performance and Market Position - Horizon Robotics has established a comprehensive hardware and software stack, with significant client coverage including major automotive companies like BYD and Li Auto [2]. - The company has shipped over 5 million units of its Zhengcheng chip, leading in both Robotaxi and L2+ market share [2]. - With the rollout of urban NOA (Navigation on Autopilot), the proportion of high-margin software licensing revenue is rapidly increasing, indicating a clear path to profitability [2]. Group 3: Future Outlook - As the wave of Chinese intelligent driving technology expands globally, Horizon Robotics is positioned to become a new standard for Tier 1 suppliers due to its engineering capabilities and cost advantages [2]. - Analysts suggest that Baillie Gifford's investment underscores international recognition of Horizon Robotics' technological strength and market position, reinforcing its leadership in the intelligent driving sector [2].