Core Insights - The 2025 International Automotive and Supply Chain Expo in Hong Kong showcased Horizon Robotics' Horizon SuperDrive (HSD) and the Journey 6 series, highlighting the future direction of intelligent driving technology [1][2] - Horizon Robotics' HSD received the 2025 China Automotive Supply Chain Innovation Achievement Award for its human-like driving experience and reliable technology [2] - The company aims to provide optimal performance and flexible upgrade solutions for intelligent driving, leveraging its decade-long experience in hardware-software integration [2][4] Company Developments - Horizon Robotics presented its full-stack technology achievements at the expo, emphasizing its role as a leader in the global automotive industry's transformation [2] - The HSD system is the first fully integrated urban auxiliary driving system developed in China, utilizing the Journey 6P computing solution for enhanced safety and user experience [2][3] - The company has partnered with Chery Group for the mass production of HSD, which will debut in the "Falcon" model under the Starway brand in 2025 [3] Market Position - Horizon Robotics is a leading provider of advanced driver assistance and high-level autonomous driving solutions, having established partnerships with over 40 automotive brands and produced over 8 million units of its solutions [4] - The company has secured collaborations with major Tier 1 suppliers like Bosch, Denso, and ZF, contributing to the development of differentiated intelligent driving solutions [4] - Horizon Robotics plans to raise approximately HKD 46.74 billion through a share placement to accelerate business expansion and enhance R&D capabilities [4]

Core Insights - The 2025 International Automotive and Supply Chain Expo in Hong Kong showcased cutting-edge vehicles and technologies, highlighting the future of transportation [2] - Horizon Robotics, a leading smart driving technology company, presented its Horizon SuperDrive (HSD) and Journey 6 series, receiving the 2025 China Automotive Supply Chain Innovation Achievement Award [2] - The company emphasizes its commitment to technological innovation and aims to provide optimal, flexible, and upgradable smart driving solutions for global customers [2] Company Developments - Horizon Robotics introduced the "User Trust in Smart Driving" formula, focusing on safety, professionalism, and intimacy to enhance user experience in urban driving [3] - The HSD system features an end-to-end architecture that ensures seamless operation from photon input to trajectory output, providing a human-like driving experience [3] - The system incorporates end-to-end reinforcement learning and a digital twin world to continuously improve driving capabilities [3] Product Offerings - HSD offers various configurations to meet diverse user needs, including HSD 300 for general urban driving, HSD 600 for high-performance L2 urban driving, and HSD 1200 for all-scenario driving [4] - The modular design of the Horizon Cell "magazine system" allows for easy upgrades of the onboard computing platform, similar to upgrading a personal computer [3][4] Market Collaborations - Horizon Robotics has partnered with Chery Group for the mass production of HSD, which will debut in the "Falcon" model under the Exeed brand, expected to launch in Q3 2025 [5] - The company has established close collaborations with leading Tier-1 companies such as Bosch, Denso, and ZF, with over 8 million units of its pre-installed solutions shipped to date [5] - Currently, one in three smart vehicles in the market is equipped with Horizon's driving assistance solutions [5]

Core Viewpoint - The 2025 International Automotive and Supply Chain Expo in Hong Kong showcased Horizon's advanced driving technology, highlighting its innovative contributions to the automotive industry and its commitment to smart driving solutions [1][3][5]. Group 1: Event Overview - The expo served as a platform for showcasing new ideas, technologies, and products in the automotive industry, emphasizing the global trends of vehicle intelligence and electrification [3]. - Horizon's products, including the Horizon SuperDrive™ (HSD) and the Journey® 6 series, were prominently featured, demonstrating the company's full-stack technology capabilities [1][3]. Group 2: Product Highlights - Horizon's HSD system received the 2025 China Automotive Supply Chain Innovation Achievement Award for its human-like driving experience and reliable technology [6]. - The HSD is the first fully integrated urban driving assistance system developed in China, utilizing the Journey 6P computing solution to provide a seamless driving experience [6][8]. Group 3: Strategic Partnerships and Collaborations - Horizon has established comprehensive cooperation with Chery Group for the mass production of HSD, which will debut in the global market under the Starway brand in 2025 [10]. - The company has formed partnerships with over 40 automotive brands, resulting in more than 310 vehicle models equipped with its driving assistance solutions [13]. Group 4: Market Position and Future Outlook - Horizon has achieved significant market penetration, with over 8 million units of its driving assistance solutions shipped, indicating that one in three smart vehicles in the market is equipped with Horizon's technology [13]. - The company aims to lead the innovation in the smart driving sector by promoting the widespread adoption of its technology and enhancing the safety and intelligence of vehicles [15].

5月26日，地平线机器人-W(09660)正式进入港股通名单，这一消息既标志着资本市场对其软硬结合技术 路径的高度认可，同时也预示着地平线作为国内头部智能辅助驾驶解决方案供应商，即将加速迎来价值 发现及重估。 自2024年10月下旬上市以来，作为行业里的"明珠"，地平线一直备受瞩目。智通财经注意到，上市后地 平线的股价走势始终呈现出高活跃的特征，同时国内外主流券商亦对其进行积极覆盖，再到此次一如预 期顺利纳入港股通，地平线在资本市场的受欢迎程度之高不言而喻。闻歌知意，如此高的热度之下，市 场大概更需要对地平线的中长期投资价值有清晰的认知。 地平线HSD开局即大热，市场高度认可背后正是地平线以技术为基，软硬协同共筑核心竞争力。据介 绍，HSD搭载了当前最强性能的国产智能辅助驾驶计算方案征程6P，基于创新推出Horizon Cell"弹夹系 统"，实现硬件可插拔、软件可升级，支持车载计算平台快速升级，在技术层面上满足了车企差异化需 求；不仅如此，该系统还有HSD300、HSD600、HSD1200三个版本方案可供客户选择，为客户提供从普 惠级到高性能再到全场景的全价格端、全性能段解决方案，满足不同用户的配置需求和 ...

Group 1: Advanced Manufacturing and Technology - Ningde Times launched the second-generation Shenxing supercharging battery and "Sodium New" sodium-ion battery on April 21, with the supercharging battery achieving a peak charging rate close to 12C and a peak charging power exceeding 1.3 MW, enabling a 5-minute charge for over 520 km range [2] - The sodium-ion battery, set to begin mass production in June, demonstrates safety features under extreme conditions and is expected to replace lead-acid batteries in various applications, indicating a positive outlook for the sodium battery industry chain [2] - Huawei's QianKun Intelligent Technology Conference will showcase the latest high-level intelligent driving assistance system, with significant advancements in L3 driving technology expected to enhance the competitiveness of domestic new energy vehicles [3] Group 2: Consumer Sector - Yanjing Beer reported stable financial performance in its 2024 annual report, aligning with previous performance forecasts [5] - Hengshun Vinegar's 2024 annual report showed revenue of 2.2 billion yuan, a 4.3% increase year-on-year, and a net profit of 130 million yuan, a 46.5% increase, despite a 2.4% decline in its core condiment business [5] - Guibao Pet's 2024 annual report indicated revenue of 5.25 billion yuan, a 21.2% increase, and a net profit of 630 million yuan, a 45.7% increase, driven by the overall expansion of the pet food industry and rising demand for high-quality products [6] - TCL Smart Home's Q1 2025 report showed revenue of 4.6 billion yuan, a 9.6% increase, and a net profit of 300 million yuan, a 34.0% increase, attributed to increased exports and effective cost control [7] - Miaokelando's Q1 2025 report indicated revenue of 1.23 billion yuan, a 6.3% increase, and a net profit of 80 million yuan, a 114.9% increase, marking a recovery from previous sales pressures [7]

Core Viewpoint - The article emphasizes that Horizon Robotics is not merely a chip company but aims to become a software company, focusing on integrated hardware-software systems for autonomous driving, particularly in urban environments [2][4][5]. Group 1: Company Background and Development - Horizon Robotics was founded in 2015, and its founder, Yu Kai, recognized the nearing end of the mobile internet boom, leading the company to focus on robotics chips instead of algorithms [7]. - The company faced significant challenges in 2019, including a reduction in workforce by one-third, but pivoted to focus solely on the automotive sector [7][8]. - Collaborations with major automotive manufacturers like Changan and Li Auto have been pivotal in establishing trust and achieving market penetration [8][10]. Group 2: Market Position and Achievements - Horizon Robotics has achieved over 8 million units of front-mounted production and has a market share of 33.97% in the L2 autonomous driving computing solutions market for domestic brands [13]. - The company claims that one in three smart vehicles is equipped with its technology, projecting rapid growth towards 10 million units [14]. Group 3: Future Vision and Strategy - Horizon Robotics aims to redefine the essence of smart driving, focusing on both functional and emotional value, similar to how smartphones evolved beyond basic communication [15]. - The company plans to transition from L2 to L3 and L5 autonomous driving capabilities, requiring significant computational power and extensive real-world data [18][21]. - The introduction of the Horizon Smart Driving (HSD) system, featuring the Journey 6P chip, is set to enhance urban autonomous driving capabilities and is expected to be launched in 2025 [24][28]. Group 4: Technological Approach and Innovation - The HSD system utilizes a one-piece end-to-end technology architecture, ensuring high performance and efficiency in data processing [24]. - Horizon Robotics emphasizes the importance of a robust software-hardware integration strategy, akin to successful models like Apple and NVIDIA, to maintain a competitive edge [23]. Group 5: Market Dynamics and Competitive Landscape - The article discusses the competitive landscape, highlighting that while other companies may have launched similar technologies earlier, Horizon Robotics prioritizes product quality over timing [30]. - The company is aware of the potential pitfalls of technological advancements leading to homogenization in the market and focuses on building a sustainable competitive advantage through consistent R&D efforts [20].

地平线的最新愿景——"打造人人爱用的智能驾驶产品"。 此外， 余凯博士在本次发布会上还宣布了地平线的最新愿景——"打造人人爱用的智能驾驶产品"。 站在现在看未来， 地平线以全新愿景为指引，打造高信任度的智驾产品；站在未来看现在，地平线遵循AI时代产品逻辑，不断"逼近世界 的真相"。 与奇瑞就HSD量产展开全面合作 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，地平线于4月18日正式推出L2城区辅助驾驶系统——地平线HSD—— HSD搭载当前最强性能的国产智 驾计算方案征程6P，采用一段式端到端技术架构，是国内首个软硬结合全栈开发的L2城区辅助驾驶系统，能够全方位 提升系统安全性、稳定性和通行效率 ，为用户带来信任度高、体验类人的智慧出行。 同时，基于软硬结合全栈技术，地平线创新推出Horizon Cell"弹夹系统"，实现硬件可插拔、软件可升级，为车企合作 伙伴提供"软硬件皆可升级"的方案选择，支持车载计算平台快速升级，实现车企与用户的共赢。基于弹夹系统，依托 于"技术同源、架构统一"的特点，软硬一体全栈方案HSD推出HSD 300/HSD 60 ...