Core Viewpoint - Horizon Robotics is experiencing rapid revenue growth in its automotive product solutions, with significant increases in both volume and pricing, and is expected to maintain a "buy" rating due to upcoming product launches and successful overseas expansion [1] Group 1: Financial Performance - In H1 2025, Horizon Robotics' automotive product solutions revenue reached 778 million yuan, representing a year-on-year increase of 250%; gross margin was 45.6%, up by 3.9 percentage points [2] - The shipment volume of the company's vehicle-grade Journey series processing hardware reached 1.98 million units, doubling year-on-year; shipments of hardware supporting highway-assisted driving reached 980,000 units, accounting for 49.5% of total shipments, which is six times the amount from the same period last year [2] - The market share for basic and overall assisted driving solutions in China is leading, at 45.8% and 32.4% respectively, with 400 new model designations accumulated, including over 100 models with highway-assisted driving capabilities [2] Group 2: Product Development and Partnerships - The company is closely collaborating with global partners to develop the new generation of basic assisted driving solutions, Horizon Mono, based on the Journey 6B processor, and has secured model designations from two Japanese automakers for markets outside China [3] - The partnership with overseas automakers is expected to yield over 7.5 million units in lifetime shipments, with nine joint venture automakers in China designating 30 models for the company's solutions, some of which are set to begin production by the end of 2025 [3] - The successful collaboration with the Volkswagen Group has further enhanced the company's international product layout and global brand influence [3]