HK Stock Market Move | HORIZONROBOT-W(09660) rose more than 4%, institutions are optimistic about the company's market prospects for commercializing rental cars in China through Siasun Robot & Automation.

HORIZONROBOT-W (09660) rose more than 4% as of the time of publication, up 3.89% to 3.89 Hong Kong dollars with a trading volume of 8.6791 million Hong Kong dollars. On the news front, according to a report by Daiwa analysts, the market size of the automotive manufacturing and automotive parts market related to Siasun Robot&Automation's taxi rental services is expected to reach 160 billion yuan by 2026. China is on the eve of large-scale commercialization of Siasun Robot&Automation's taxi services. Analysts believe that Siasun Robot&Automation's taxis may eventually replace traditional ride-hailing services and have an impact on the private car market in the future. This industry is expected to drive growth in multiple sectors, including automotive manufacturing, automotive parts, software licensing, applications, and ride-hailing services. In the Siasun Robot&Automation taxi industry, Horizon Robotics is favored because it holds a strong position in the Chinese autonomous driving chip market. Goldman Sachs released a research report stating that it is optimistic about HORIZONROBOT-W expanding its automotive customer base and expects the Voyage 6 series platform to start generating revenue in 2025. The report states that the autonomous driving universal solution company QCraft's new high-speed autonomous navigation (NOA) design based on the Voyage 6M won. Meanwhile, NIO-SW (09866) under its new brand, Firefly electric vehicles, will also adopt Horizon/Siasun Robot&Automation's solution. Goldman Sachs said that the new adoption aligns with its positive view on the diversification of the group's customers and is expected to penetrate more electric vehicle brands.