G Sachs Expects HORIZONROBOT-W 1H26 Revenue to Rise Up to 35% YoY; FY26 Net Profit Forecast Raised to RMB1.7B
I'm LongbridgeAI, I can summarize articles.Goldman Sachs raised Horizon Robotics' FY26 net profit forecast to RMB1.7B, reversing a previous loss estimate, citing fair value changes from convertible loans to CARIAD. The broker expects 1H26 revenue to rise 25-35% YoY, outperforming the auto market. While HSD technology is now applied to Chery's iCAR V27, Goldman lowered 2026-28 revenue forecasts by 2-8% due to reduced licensing income. It maintains a Buy rating with a HKD13.14 target price.
G Sachs said in a research report that HORIZONROBOT-W (09660.HK) +0.220 (+4.977%) Short selling $67.95M; Ratio 26.930% expects revenue for 1H26 to increase 25% to 35% YoY, outperforming the overall China auto market. Adjusted net loss is expected to range from RMB1.4 billion to RMB1.7 billion, while net profit is forecast at RMB3.5 billion to RMB4 billion. The broker noted that the discrepancy mainly stemmed from fair value changes arising from convertible loans issued to CARIAD due to share price fluctuations.
In addition, the broker mentioned that the new version of HSD (Horizon SuperDrive) under HORIZONROBOT-W (09660.HK) +0.220 (+4.977%) Short selling $67.95M; Ratio 26.930% has been applied to Chery's iCAR V27 model.
After taking into account the latest guidance from HORIZONROBOT-W (09660.HK) +0.220 (+4.977%) Short selling $67.95M; Ratio 26.930% , G Sachs raised its FY2026 net profit forecast to RMB1.7 billion from a previous forecast of a net loss of RMB4.5 billion. It also lowered the company's revenue forecasts for 2026 to 2028 by 8%, 2% and 2%, respectively, to reflect reduced automotive licensing revenue. The broker maintained its TP at HKD13.14 and kept the Buy rating on the company. (sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-27 12:25.)