计算机行业投资策略周报：地平线将于港交所上市，车型定点累计超270个

Investment Rating - The investment rating for the industry is "Positive" (maintained) [2] Core Insights - Horizon Robotics is set to be listed on the Hong Kong Stock Exchange on October 24, 2024, focusing on the commercialization of autonomous driving [3][8] - The company has achieved significant growth in revenue, with a total of over 270 designated vehicle models as of the first half of 2024 [3][10] - Horizon Robotics has established partnerships with major automotive manufacturers, contributing to its position as a leading provider of advanced driver assistance systems (ADAS) in China [9][20] Summary by Sections Horizon Robotics Listing - Horizon Robotics will be listed on the Hong Kong Stock Exchange, focusing on deep neural network computing for autonomous driving [3][8] - The company has seen a cumulative shipment of over 5 million units of its Journey series computing solutions by March 2024 [3][8] Revenue Growth and Model Designation - Horizon Robotics reported revenues of 4.67 billion, 9.06 billion, 15.52 billion, and 9.35 billion CNY for the years 2021, 2022, 2023, and the first half of 2024, respectively, with year-on-year growth rates of 94.0%, 71.3%, and 151.6% [10][11] - The revenue composition for the first half of 2024 includes 2.22 billion CNY from automotive product solutions, 6.91 billion CNY from automotive licensing and services, and 0.22 billion CNY from non-automotive solutions [11][12] Technological Capabilities - Horizon Robotics offers a comprehensive range of advanced driver assistance and high-level autonomous driving solutions, including Horizon Mono, Horizon Pilot, and Horizon SuperDrive [15][16] - The company has a high research and development expense ratio, exceeding 150% over the past three years, which has contributed to its adjusted net profit losses [11][12] Major Events in Intelligent Driving - Tesla held a launch event for its Cybercab, with plans for a fully autonomous taxi service expected to be operational by 2027 [19][20] - Several new models were released in September 2024, competing directly with Tesla's Model Y, with most starting prices lower than that of Model Y [19][20] Investment Recommendations - It is recommended to pay attention to companies such as Ruiming Technology, Huace Navigation, Desay SV, Joyson Electronics, Zhongke Chuangda, and Jingwei Hengrun, which have advantageous positions in automotive intelligence and leading software capabilities [23]