Autonomous driving company HORIZONROBOT debuts on the Hong Kong Stock Exchange, raising HKD 5.407 billion

Horizon, an AI driving company, went public on the Hong Kong Stock Exchange, raising HKD 5.407 billion, becoming the largest IPO in Hong Kong for the year. The stock price rose by 28.32% on the first day of trading. The company's revenue for 2021 to 2023 is expected to be RMB 467 million, RMB 906 million, and RMB 1.552 billion respectively, with a compound annual growth rate of 82.3%. Revenue for the first half of 2024 is projected to be RMB 935 million, a year-on-year increase of 151.6%. Horizon has collaborated with 27 OEMs and is used in 290 car models. The founder, Yu Kai, previously served as the Vice President of Baidu Research Institute, with total financing exceeding USD 3.4 billion