<div id="readability-page-1"><div><p>HORIZONROBOT-W (09660.HK)<span> </span><span> -0.150 (-2.717%)  </span> <span> Short selling $279.85M; Ratio 28.645%  </span>  hit an intraday low of HKD5.34 today (3rd). It closed at HKD5.37 at midday, down 2.72%, with turnover of 65.6178 million shares, involving HKD354 million.</p><p>G Sachs published a research report noting that HORIZONROBOT-W has released HSD (Horizon SuperDrive) v1.6 and plans to launch v2.0 in 3Q26, highlighting improvements in safety standards, parking and driving experience. The broker expects the upgraded HSD platform to support higher adoption of the J6P chip featuring 560 TOPS computing power, and remains optimistic about continued volume growth of the Journey 6 series (including J6M/J6E/J6B) chips in new energy vehicle models. Despite recent pressure on the passenger vehicle market, the broker stays positive on the companys product mix upgrade to drive blended average selling price and margins. In addition, the company has launched the integrated parking-and-driving &#34;Starry&#34; SoC to penetrate more cost-effective vehicle models, as well as the AI agent &#34;KaKaClaw.&#34;</p><p>The report mentioned that HORIZONROBOT-W has begun scaling shipments of multiple solutions to different automaker clients. SAIC MGs MG 4X has adopted its J6E chip for highway NOA-enabled models; the mass-market-oriented J6B chip has also been adopted by GAC Toyotas Bozhi 3X. Management further indicated that the CARIZON driving solution based on the J6M chip has started shipments to the ID.UNYX 06/07 models under the joint venture between Volkswagen and JAC Motors, and the company will also focus on developing the J6H chip to enable urban NOA functions.</p><p>On earnings forecasts, G Sachs lowered its projections for 2026 and 2027 to net losses of RMB4.5 billion and RMB80 million, respectively, and reduced its earnings forecasts for each year from 2028 to 2030 by 15% to 27%. The downward revisions were mainly due to lower revenue expectations for the J3/J5 platforms. However, the broker maintains a positive view on the upgrade toward higher average selling price J6 platform products. Meanwhile, it raised the operating expense ratio for 2026 to 2030 by 3 to 18 ppts to reflect higher research and development investment in new product development.</p><p>G Sachs cut the 12-month TP for HORIZONROBOT-W to HKD13.14 from HKD15.3 and maintained a Buy rating. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-02 16:25.)</p></div></div>

09660

<p>HorizonRobot-Wfell 2.7% to HKD5.37 at midday, with short selling ratio at 28.6%. Goldman Sachs cut its 12-month target price to HKD13.14 from HKD15.3 but maintained a Buy rating. The broker lowered earnings forecasts for 2026-2027 due to lower revenue expectations for J3/J5 platforms and increased R&D costs. However, it remains optimistic about the HSD platform upgrade supporting higher adoption of the J6P chip and volume growth in the Journey 6 series.</p>

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HORIZONROBOT-W  Falls 2.7% at Midday; G Sachs Cuts TP to HKD13.14; HSD Platform Upgrade Supports J6P Applications