地平线上半年营收同比增长67.6%至15.67亿元：达成国内首家千万级量产成就

Core Viewpoint - The article highlights the significant growth of Horizon Robotics (地平线) in the first half of 2025, driven by increased sales and market share in the autonomous driving sector, with a strong emphasis on the adoption of advanced driver assistance systems (ADAS) and the successful launch of new product lines [3][6][7]. Financial Performance - In the first half of 2025, Horizon reported revenue of 1.567 billion yuan, a year-on-year increase of 67.6%, with a gross profit of 1.024 billion yuan and a gross margin of 65.4% [5]. - The product and solution business achieved a revenue of 778 million yuan, a 3.5 times increase compared to the same period in 2024, with a shipment volume of 1.98 million units, doubling year-on-year [11]. Market Position and Growth - Horizon's market share in China's passenger car market exceeded 63%, with the penetration rate of ADAS rising from 51% at the end of 2024 to 59% in the first half of 2025 [7]. - The company became the first smart driving technology enterprise in China to reach a cumulative shipment of over 10 million units, solidifying its leading market position [12][18]. Product Development and Innovation - The introduction of the new generation product line, the Journey 6 series, has significantly optimized the product shipment structure, with high-end product solutions accounting for 49.5% of total shipments and contributing over 80% of the revenue from the product and solution business [11]. - Horizon's R&D expenditure reached 2.3 billion yuan in the first half of 2025, a 62% increase year-on-year, focusing on enhancing urban driving assistance systems [24]. Strategic Partnerships and International Expansion - Horizon has established partnerships with major international suppliers like Bosch and Denso, aiming to build a global smart driving industry ecosystem [22]. - The company is actively expanding its international presence, securing model designations with foreign brands, including two overseas partnerships expected to deliver 7.5 million units over their lifecycle [21]. Future Outlook - The market for high-end ADAS is anticipated to grow, with vehicle prices for urban driving assistance solutions expected to drop to the 150,000 yuan range, indicating a shift towards higher-end features [24]. - With the successful rollout of the Horizon SuperDrive (HSD) system, the company is positioned to continue its momentum in revenue growth and market expansion [26].