地平线机器人-W上半年收入同比大增67.6%

Core Insights - Horizon Robotics-W reported a revenue of 1.567 billion yuan in the first half of 2025, representing a year-on-year growth of 67.6% [2] - The company's comprehensive gross margin stood at 65.4% [2] Group 1: Product and Solutions Business - Revenue from product and solutions business surged 3.5 times year-on-year to 778 million yuan, with a shipment volume of 1.98 million units, doubling compared to the previous year [2] - The shipment volume of mid-to-high-end product solutions increased sixfold, accounting for 49.5% of total shipments and contributing over 80% of the revenue from the product and solutions business [2] - The average value per vehicle for the product and solutions business increased to 1.7 times that of the same period last year due to enhanced deliveries of mid-to-high-end products [2] Group 2: Software and Licensing Services - Revenue from software and licensing services reached 738 million yuan, marking a year-on-year increase of 6.9%, closely matching the revenue from product and solutions business at a ratio of approximately 1:1 [2] Group 3: Market Position and Partnerships - As of August 2025, the Journey family of products achieved a production milestone of over 10 million units, making Horizon the first domestic intelligent driving technology company to reach this level [2] - The company increased its market share in China's self-owned brand assisted driving computing solutions to 32.4%, and its market share in the ADAS front-view integrated machine segment rose to 45.8%, both ranking first [2] - Horizon's products have been adopted by 27 OEMs (42 OEM brands), including the top ten OEMs in China [2] - In the first half of the year, the company secured nearly 400 model designations, with over 100 models featuring highway-assisted driving and above functionalities; more than 15 models equipped with Horizon's mid-to-high-end assisted driving solutions have been mass-produced and launched [2][3]