Core Viewpoint - Goldman Sachs maintains a "Buy" rating for Horizon Robotics-W (09660), raising the target price from HKD 14.11 to HKD 15.3, which corresponds to an enterprise value to EBITDA multiple of 28 times [1] Group 1: Product Development and Applications - Horizon Robotics' Journey 6 platform is seeing increased applications in new vehicle models, including J6P and Super Drive High-Level Intelligent Driving (HSD) for Chery Automobile (09973) Exeed ET5, J6E for SAIC MG4530, and J6M for Changan Automobile (000625.SZ) Q07 and Geely Automobile (00175) Galaxy A7, enabling high-speed and urban navigation assistance driving (NOA) [1] - The J6P and HSD have already entered mass production in Chery Exeed ET5, with deliveries starting next month [1] Group 2: Market Outlook and Product Strategy - The company offers a comprehensive system-on-chip (SoC) platform solution ranging from 5 TOPS to 560 TOPS, covering various price segments and providing integrated hardware and software solutions based on customer needs [1] - There is optimism regarding the company's increasing shipment volumes and the transition of its product mix towards high-end SoCs [1]

Core Viewpoint - Goldman Sachs maintains a "Buy" rating for Horizon Robotics-W (09660) and raises the target price from HKD 14.11 to HKD 15.3, which corresponds to an enterprise value to EBITDA ratio of 28 times [1] Group 1: Product Development and Applications - Horizon Robotics' Journey 6 platform is seeing increased applications in new vehicle models, including J6P and Super Drive High-Level Intelligent Driving (HSD) for Chery Automobile (09973) Exeed ET5, J6E for SAIC MG4530, and J6M for Changan Automobile (000625.SZ) Qiyuan Q07 and Geely Automobile (00175) Galaxy A7, enabling high-speed and urban navigation assistance [1] - The Journey 6 series, specifically J6P and HSD, has entered mass production for Chery Exeed ET5, with deliveries starting next month [1] Group 2: Technology and Market Outlook - The company offers a comprehensive system-on-chip (SoC) platform solution ranging from 5 TOPS to 560 TOPS, covering various price segments and providing integrated hardware and software solutions based on customer needs [1] - There is optimism regarding the company's increasing shipment volumes and the transition of its product mix towards high-end SoCs [1]