Core Insights - The intelligent driving industry is at a critical inflection point, with the potential for rapid growth or falling into an innovation gap as technology penetration reaches 10% to 20% [4] - The future growth of mid-to-high level intelligent driving is supported by three main factors: its central role in China's smart connected new energy vehicle strategy, the decreasing costs and increasing accessibility of advanced driving features, and strong consumer demand for intelligent features in vehicle purchases [4] Industry Trends - Intelligent driving is a core component of China's "14th Five-Year Plan" and is expected to drive the automotive industry from manufacturing to intelligent manufacturing [4] - The cost of advanced driving features has decreased significantly, with functionalities like urban NOA and highway NOA now available in vehicles priced below 150,000 yuan, accelerating the "smart driving equality" movement [4] - Consumer surveys indicate that intelligent features are among the top factors influencing the purchase of new energy vehicles, with a strong emphasis on intelligent driving and smart cockpit features in high-end models [4] Challenges - Despite advancements, intelligent driving still faces challenges, particularly in urban NOA, which is currently at a "usable" level but not meeting user expectations [5] - Issues include the system's performance in complex scenarios, limited operational design domain (ODD), and high costs, necessitating improvements in both system performance and application range [5] Technological Innovations - Horizon has made significant breakthroughs in four core areas: algorithms, software architecture, computing power, and data/engineering capabilities [6][7][8] - The Vision Mamba algorithm represents a key advancement in visual perception technology, achieving a 2.8 times increase in computation speed and an 87% reduction in GPU memory usage [6] - The new Senna multi-modal architecture integrates sensor and map data for improved vehicle control, resulting in over a 40% reduction in average planning displacement error and a 45% decrease in collision rates [6] Product Development - Horizon has launched the Horizon SuperDrive urban assistance driving system, which utilizes a combination of cameras and radar to enable full-scene intelligent driving without high-precision maps [9] - The system has demonstrated its ability to handle complex driving scenarios and is set for mass production this year [9] Future Outlook - The future of intelligent driving is expected to evolve towards hardware integration and software unification, with a focus on creating user-friendly intelligent driving products [9]

Core Insights - The 15th China Automotive Forum will be held in Shanghai from July 10 to 12, 2025, focusing on the theme "Quality Improvement and New Directions for Intelligent Driving" [1] - Dr. Chen Liming, President of Horizon Robotics, delivered a keynote speech discussing the latest research and industry insights in the field of intelligent driving [1] Industry Trends - Intelligent driving is at a critical inflection point in China, driven by three main factors: its significant role in the national strategy for smart connected new energy vehicles, the industry's push for technology democratization, and increasing consumer demand for intelligent features in electric vehicles [3][7] - The functionality of Highway Navigation on Autopilot (NOA) is becoming more user-friendly, while urban NOA is still in a "usable" stage, facing challenges such as complex traffic conditions and system performance issues [7] Technological Innovations - Horizon Robotics has made significant advancements in visual perception algorithms, evolving from traditional methods to the new Vision Mamba algorithm, which improves computational efficiency and resource optimization [11] - The Senna architecture combines end-to-end models with Visual Language Models (VLM), demonstrating over 40% reduction in average planning displacement error and 45% decrease in average collision rates compared to traditional models [14] Chip Technology - The Journey 6 series chips from Horizon Robotics cover a full range of intelligent driving applications, with the Journey 6P chip innovating in areas such as function, floating-point operations, and memory management, effectively reducing system deployment costs [17] Data and Engineering Capabilities - Horizon Robotics has introduced a solution combining reinforcement learning with world models, enabling continuous interaction with the environment for autonomous learning and optimization [19] - The company has achieved ISO 8800 certification for road vehicle safety and AI, providing over 8 million solutions and aiming to exceed 10 million this year, supporting over 200 vehicle models [19] Product Launches - The Horizon SuperDrive (HSD) for urban driving utilizes a one-stage end-to-end model and is set to enter mass production this year, featuring a configuration of 11 cameras and 1 millimeter-wave radar [22] - Horizon Robotics emphasizes its commitment to serving both domestic and global markets, collaborating with major international companies like Bosch and Denso [22]

Athletes can shop hundreds of deals from top brands July 7–10, online and via the DICK'S mobile appPITTSBURGH, July 2, 2025 /PRNewswire/ -- DICK'S Sporting Goods (NYSE: DKS) today announced DICK'S Deal Days, a four-day savings event running Monday, July 7 through Thursday, July 10. Timed to peak summer activity, travel and youth sports season, DICK'S Deal Days is the brand's biggest sale of the summer, with new deals dropping daily.Whether shopping online at DICKS.com or through the DICK'S mobile app, athle ...

Key Takeaways Nextracker has surged past FSLR in stock gains, up 38.4% in 3 months and 26.5% over the past year. FSLR boasts $19.8B in long-term contracts and plans to expand capacity to over 25 GW by the end of 2026. NXT hit 10 GW in India, landed a major EU project and acquired Bentek to boost U.S. supply chain.As clean energy investments continue to escalate worldwide, solar power has emerged as the fastest-growing energy source, brightening the growth prospects for key industry players like First Sola ...

| 目标价: HK$8.60 | 当前股价: HK$6.46 | | --- | --- | | 股价上行/下行空间 | +33% | | 52 周最高/最低价 (HK$) | 10.38/3.32 | | 市值 (US$mn) | 3,766 | | 当前发行数量(百万股) | 4,576 | | 三个月平均日交易額 | 138 | | (US$mn) | | | 流通盘占比 (%) | 84 | | 主要股东 (%) | | | CARIAD Estonia | 18 | | Everest robotics | 13 | | SAIC QIJUN | 8 | | 按 2025 年 6 月 19 日收市数据 | | | 资料来源: FactSet | | 主要调整 | | 现值 | 原值 | 变动 | | --- | --- | --- | --- | | 评级 | 买入 | N/A | N/A | | 目标价 (HK$) | 8.60 | N/A | N/A | | 2025E EPS (RMB) | (0.07) | N/A | N/A | | 2026E EPS (RMB) | (0.02) | N ...

Group 1 - The investment association PortfolioManager has published an updated common prospectus due to the addition of two new share classes to be traded on Nasdaq Copenhagen A/S, with the first trading day set for June 25, 2025 [1] - Information regarding the new share classes includes the number of investors, the number of circulating shares, and the total assets in DKK [2] - The prospectus is attached for further details, and inquiries can be directed to the CEO of Fundmarket A/S, Nina Trolle Boldt [2]

日前，2025首届国际汽车及供应链博览会(香港)在亚洲博览馆正式开幕。地平线机器人(09660.HK，以 下简称"地平线")携城区辅助驾驶系统Horizon SuperDrive(简称HSD)和车载智能计算方案征程6系列首度 亮相。凭借领先的软硬结合技术，地平线HSD获得了大会颁发的2025中国汽车供应链创新成果奖，向全 球展现了智驾科技的未来方向与实践路径。 目前，地平线已与奇瑞集团就HSD量产展开全面合作，HSD将作为奇瑞"猎鹰"的一款先进方案，与征程 6P计算方案一同在星途品牌上全球首发，并于2025年实现量产。 6月12日，地平线宣布，现有股东将以每股6.93港元的配售价配售6.81亿股现有股份，占配售及认购完成 后公司扩大后股本的约4.9%，配售价为每股6.93港元，较6月11日收市价7.44港元，折让约6.85%。公司 此次配售募资净额约46.74亿港元，将主要用于加速业务扩张、投资于研发以进一步提升科技实力，以 及其他一般公司用途。 持续赋能全球汽车产业智能化升级 地平线是市场领先的乘用车高级辅助驾驶和高阶自动驾驶解决方案提供商，拥有专有的软硬件技术。自 成立至今的十年间，地平线始终锚定Tier ...

陈黎明表示："中国汽车智能化水平正持续攀升，地平线始终坚守技术创新之路，依托开放生态与十年 软硬结合技术沉淀，构建覆盖全场景辅助驾驶应用的解决方案体系。面对智能驾驶价值拐点，地平线以 征程6系列和HSD为全球客户提供性能最优、灵活可升级的智驾解决方案，推动智能驾驶面向全球汽车 市场的量产落地"。 记者在现场了解到，针对当前行业发展趋势和用户需求，地平线首创基于辅助驾驶领域的 "用户智驾信 任度" 公式，以安心度、专业度、亲密度这三个维度作为综合考量指标，精心打造出一套体验 "类人"、 用户 "信任" 的极致城区辅助驾驶系统。 作为国内首个实现软硬结合全栈开发的城区辅助驾驶系统，地平线HSD搭载的征程6P宛如一颗强大的 "智慧心脏"，能为整个系统的高效运行提供澎湃动力。 2025年6月12日，香港亚洲博览馆被一片科技与汽车交织的热潮所笼罩，2025首届国际汽车及供应链博 览会（香港）上，各类酷炫车型与前沿科技展品让人目不暇接，空气中弥漫着人们对未来出行的期待。 作为国内率先在香港交易所主板挂牌上市的智驾科技企业，携城区辅助驾驶系统Horizon SuperDrive （简称HSD）和车载智能计算方案征程6系列亮 ...

地平线HSD是国内首个软硬结合全栈开发的城区辅助驾驶系统，搭载最高算力国产智驾计算方案征程 6P，采用一段式端到端架构，实现了从光子输入到轨迹输出的全局打通，可提供安全、专业、可靠的 极致拟人体验，让用户享受全场景无差别的安全出行体验。此外，HSD 还引入端到端强化学习，通过 构建数字孪生世界及建立相应的奖惩机制让模型自我学习和探索，学习开车的底层逻辑，夯实基础驾驶 能力。 2025年6月12日，2025首届国际汽车及供应链博览会（香港）在亚洲博览馆正式开幕。作为国内率先在 香港交易所主板挂牌上市的智驾科技企业，地平线携城区辅助驾驶系统Horizon SuperDrive™（简称 HSD）和车载智能计算方案征程（®）6系列首度亮相。凭借领先的软硬结合技术，地平线HSD获得了 大会颁发的2025中国汽车供应链创新成果奖，向全球展现了智驾科技的未来方向与实践路径。 香港作为国际著名的金融中心、贸易中心和科创中心，其地缘优势、金融实力和国际化服务能力为新能 源汽车全球化提供了坚实支撑。同时，作为连接内地和全球的贸易枢纽，香港也是中国汽车出海重要的 桥头堡，更是内地企业"引进来"、"走出去"的双向门户。本次博览会紧扣 ...

Baltic Horizon Fund applied for bondholders’ approval for certain amendments to the terms and conditions (the Terms and Conditions) of the Baltic Horizon Fund EUR 42 million 5-year floating rate bonds maturing in 2028 (ISIN EE3300003235, the Bonds) in relation to the Bonds by way of written procedure initiated on 9 June 2025. Bondholders who were entered in the registry of bond-holders maintained by Nasdaq CSD SE on 6 June 2025 were entitled to vote in the written procedure (the Holders). Altogether Holders ...