HK Stock Market Move | HORIZONROBOT-W(09660) surged more than 6% and was included in the Hang Seng Technology Index. Goldman Sachs is optimistic about the accelerated product upgrades for Journey 6.

HORIZONROBOT-W(09660) rose more than 6%, rising to 6.23% as of press time, reporting HK$9.04, with a turnover of HK$280 million. On the news front, on February 21st, Hang Seng Index Company announced the latest quarterly review results, with Horizon Siasun Robot & Automation being included in the Hang Seng Technology Index component stocks. The adjustment will take effect from March 10, 2025. Goldman Sachs released a research report stating that Horizon's inclusion in the Hang Seng Technology Index is expected to help further valuation reassessment. The target price has been raised from the original HK$7.9 to HK$11.77, with a rating of "buy". Goldman Sachs stated that Horizon Siasun Robot & Automation's "Journey 6" series is expected to benefit from the mainland's intelligent driving trend led by BYD Company Limited, and is expected to upgrade the Horizon product portfolio (from ADAS to intelligent driving solutions) and customer diversification. BYD Company Limited previously announced plans to significantly increase the use of intelligent driving in future models, with Horizon's 128 TOPS J6M intelligent driving chip and Nvidia's Orin-N to be used in major models, indicating a significant increase in Horizon's sales volume.