Horizon Robotics' Path to Listing in Hong Kong with Strong Growth and Diverse Backers
TapTechNews October 8th news, the Hong Kong Stock Exchange disclosed the PHIP version of the prospectus of Horizon Robotics. This means that the intelligent driving technology enterprise Horizon Robotics officially passed the hearing of the Hong Kong Stock Exchange today and is one step closer to listing in Hong Kong.
The prospectus shows that in 2021, 2022, and 2023, the company recorded revenues of approximately 467 million yuan, 906 million yuan, and 1.552 billion yuan respectively, with a compound annual growth rate of 82.3%; in the first half of 2024, the revenue was approximately 935 million yuan, an increase of 151.6% year-on-year.
According to the official introduction, Horizon Robotics' integrated hardware and software solution has currently been adopted by 27 OEMs (42 OEM brands) and has been applied to 290 vehicle models, and the top ten OEMs in China have all chosen Horizon Robotics' intelligent driving solution.
In August this year, the China Securities Regulatory Commission announced the filing notice for the overseas issuance and listing of Horizon Robotics. The CSRC data shows that Horizon Robotics plans to issue no more than 1,153,546,800 overseas-listed common shares and list on the Hong Kong Stock Exchange.
The public information shows that the founder of Horizon Robotics, Yu Kai, is an internationally renowned scientist and has about 25 years of R & D experience in the field of computer engineering. Before founding the company, he served as the vice president of Baidu Research Institute from April 2012 to June 2015.
Since its establishment, Horizon Robotics has received multiple investments. The investors include SAIC, GAC, Great Wall, BYD, FAW, Intel, Yunfeng Capital, FiveYuan Capital, Sequoia Capital, Hillhouse, Blackstone, SK Hynix, CATL, Luxshare Precision, Xingyu Shares, Will Semiconductor, Sunny Optical and other shareholders, with a cumulative financing of more than 3.4 billion US dollars (TapTechNews note: currently about 23.97 billion yuan).