Core Viewpoint - Horizon Robotics plans to raise approximately HKD 63.39 billion through a share placement at HKD 9.99 per share, which represents a discount of about 5.75% [1][2] Group 1: Fundraising and Use of Proceeds - The share placement will account for approximately 4.6% of the company's existing issued share capital and about 1.9% of the voting rights at the shareholders' meeting [1] - The net proceeds from the placement will be used to expand overseas market operations, support the scaling of advanced driver assistance solutions, and invest in emerging fields such as Robotaxi-related initiatives [2] Group 2: Market Performance and Financials - On the secondary market, Horizon Robotics opened down over 5% on September 26, and by the time of reporting, the stock had dropped over 6% to HKD 9.92 per share [5] - The company reported a revenue of approximately CNY 15.67 billion for the first half of the year, marking a year-on-year increase of 67.6%, while losses widened from CNY 50.98 billion to CNY 52.33 billion [8] - The increase in sales costs and R&D expenses has been identified as the primary reason for the widening losses [8] Group 3: Customer Base and Market Position - Horizon Robotics is a leading supplier of intelligent driving assistance solutions for passenger vehicles, with significant revenue contributions from its top five customers, which accounted for 52.48% of total revenue in the first half of the year [8] - The revenue from the top five customers has shown a trend of increasing diversification, with the largest customer contributing 19.7% of total revenue [8]