据悉，地平线征程6B正加速渗透ADAS市场，博世、知行科技等基于该芯片开发的产品均已斩获车企定 点；与四维图新（002405）、大陆等头部tier1的合作也均获得车企定点，累计定点超10余家品牌，未来 头部优势还将进一步巩固。 消息面上，高工智能汽车研究院近期发布2025年智驾计算芯片榜单。数据显示，在ADAS前视一体机及 小域控计算芯片领域，地平线以47.66%的市占率独占近半壁江山，连续两年蝉联自主品牌ADAS市场份 额榜首。 地平线机器人-W(09660)午后涨超3%，截至发稿，涨2.51%，报8.16港元，成交额12.67亿港元。 ...

Core Viewpoint - Horizon Robotics-W (09660) has shown a significant increase in stock price, reflecting strong market performance and leadership in the ADAS sector [1] Group 1: Market Performance - Horizon Robotics-W's stock price rose over 3% in the afternoon session, currently trading at 8.16 HKD with a transaction volume of 12.67 billion HKD [1] Group 2: Industry Position - According to the latest report from the High-Technology Automotive Research Institute, Horizon Robotics holds a 47.66% market share in the ADAS front-view integrated machine and small domain control computing chip sectors, maintaining its position as the top domestic brand for two consecutive years [1] Group 3: Product Development and Partnerships - The Horizon Journey 6B chip is rapidly penetrating the ADAS market, with products developed by Bosch and Zhixing Technology based on this chip already securing contracts with automotive manufacturers [1] - Collaborations with leading Tier 1 suppliers such as NavInfo and Continental have also resulted in over 10 contracts with automotive brands, further solidifying Horizon Robotics' competitive advantage [1]

Market Overview - The Hang Seng Index rose 2.4% last week, closing at 22,504 points, recovering most of the losses since the "reciprocal tariffs" were implemented[1] - The Hang Seng Tech Index increased by 5.2%, closing at 5,244 points, with all 12 major sectors in the Hong Kong stock market showing gains[1] - Weekly trading volume decreased by 26.3% to HKD 170.5 billion, and net inflow from the Hong Kong Stock Connect dropped to HKD 1.24 billion[1] Economic Indicators - The global stock markets have largely recovered from the declines following the imposition of tariffs, with cyclical commodities like copper rebounding significantly, while safe-haven assets like gold have seen price declines[1] - Asian currencies showed volatility, with the New Taiwan Dollar rising 4.4% in a single day, and the offshore RMB increasing by 0.92% to 7.21, indicating capital inflow into the region[1] Investment Insights - The current forecasted PE for the Hang Seng Index has risen to 10 times, with risk premiums below one standard deviation of the rolling two-year average, indicating a significant recovery in valuations[2] - The April PMI data from China suggests increasing pressure on manufacturing and service sector activity, which may lead to downward pressure on prices and corporate earnings forecasts[2] Sector Performance - In the automotive sector, BYD's sales increased by 21.3% year-on-year, while Geely's sales rose by 52.7% year-on-year, with most automotive stocks rising between 2% and 7% last week[3] - The healthcare sector saw the Hang Seng Healthcare Index rise by 2.4%, with notable increases in companies like Innovent Biologics and Rongchang Biologics, reflecting strong operational performance[4] Policy and Regulatory Changes - Guangzhou announced a water price increase of up to 93.2%, with residential water prices rising significantly, which may influence water supply industries nationwide[11] - The adjustment in water pricing is expected to support the national water supply industry and may lead to similar price increases in other cities, such as Shenzhen[13]