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里昂:升地平线机器人-W目标价至11港元 增长前景向好 重申“跑赢大市”评级
Zhi Tong Cai Jing·2025-08-28 07:03

Core Viewpoint - Horizon Robotics-W (09660) demonstrated strong performance in the first half of the year, with total revenue increasing by 68% year-on-year, driven by hardware shipments reaching 2 million units and an average product selling price rising by over 60% [1] Group 1: Financial Performance - Total revenue increased by 68% year-on-year [1] - Hardware shipments reached 2 million units [1] - Average product selling price rose by over 60% [1] Group 2: Market Outlook - Increased visibility of J6B shipments in overseas markets [1] - Successful progress of J6P and upgraded HSD models [1] - Anticipated significant contribution to shipments in the passenger vehicle and Robotaxi sectors over the next five years [1] Group 3: Analyst Predictions - Revenue forecasts for Horizon Robotics for 2025 to 2027 have been raised by 3% to 5% [1] - Target price increased from HKD 10.5 to HKD 11 [1] - Business developments in the coming months are expected to act as catalysts for stock price growth, with a reaffirmation of the "outperform" rating [1]