HK Stock Market Move | HORIZONROBOT-W(09660) rose by over 6%, Goldman Sachs' launch of the J6 platform comes at a time when intelligent driving is accelerating in China.

HORIZONROBOT-W (09660) rose more than 6%, reaching 6.38% at the time of drafting, at 5.85 Hong Kong dollars, with a turnover of 163 million Hong Kong dollars. Goldman Sachs released a research report stating that it is optimistic about HORIZONROBOT-W as one of China's leading intelligent driving chip suppliers. Due to more customers demanding high-end solutions, including its Superdrive equipped with the J6 platform and corresponding software solutions (such as NOA), resulting in increased annual spending per customer. The bank also pointed out that the group recently announced that its J6 chip has started mass shipments in vehicles. By December 2024, Horizon has completed validation with more than 20 automobile brands for its Journey6 chip. The bank expects the group to begin converting these validations into production this year, leading to revenue growth. Additionally, it is expected that the J6 series will account for 3%/13%/40% of the group's total revenue in 2025-2027. Furthermore, Horizon's subsidiary Siasun Robot & Automation's main customer BYD COMPANY has also expressed an interest in bringing high-end intelligent driving to the public. The bank believes that the launch of Horizon's Siasun Robot & Automation J6 platform is timely as China accelerates the popularization of intelligent driving, with production expected to start between 2025-2026.