Horizon Robotics Class B (HK:9660)
:9660
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Horizon Robotics Class B
(9660)
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Rating:42Neutral
Price Target:
HK$6.00
▼(-20.00% Downside)
Action:Reiterated
Date:05/04/26
The score is primarily constrained by weak financial performance (large recent loss and ongoing cash burn) despite strong revenue growth and healthy gross margins. Technicals also lean weak with the stock trading below key moving averages and slightly negative MACD, while valuation remains pressured by losses and the absence of a dividend yield.
Positive Factors
Rapid revenue scaling
Sustained multi-year top-line growth demonstrates strong demand traction and expanding commercial adoption. A growing revenue base improves the path to operating leverage over time, supports continued R&D and product investment, and increases bargaining power with automotive OEMs and suppliers.
Negative Factors
Sharp recent net loss
A large recent loss erodes retained capital and increases reliance on external funding to sustain operations. Persistent operating losses restrict strategic flexibility, can force cutbacks in R&D or sales efforts, and heighten execution risk if revenue growth slows or capital markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid revenue scaling
Sustained multi-year top-line growth demonstrates strong demand traction and expanding commercial adoption. A growing revenue base improves the path to operating leverage over time, supports continued R&D and product investment, and increases bargaining power with automotive OEMs and suppliers.
Read all positive factors
Horizon Robotics Class B (9660) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$86.01B
Dividend YieldN/A
Average Volume (3M)238.60M
Price to Earnings (P/E)―
Beta (1Y)1.83
Revenue Growth57.94%
EPS Growth-523.96%
CountryHK
Employees2,078
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)N/A
Shares Outstanding12,527,496,000
10 Day Avg. Volume157,820,181
30 Day Avg. Volume238,603,909
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)7.95
Price to Sales (P/S)27.46
P/FCF Ratio-35.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$11.75Price Target Upside56.62% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering18
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Horizon Robotics Class B Business Overview & Revenue Model
Company Description
Horizon Robotics, an investment holding company, provides automotive solutions for passenger vehicles in China. The company operates in two segments, Automotive Solutions and Non-Automotive Solutions. It offers Horizon Mono, an advanced driver ass...
How the Company Makes Money
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Horizon Robotics Class B Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
27
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.66B | 2.38B | 1.55B | 905.68M | 466.72M |
| Gross Profit | 2.36B | 1.84B | 1.09B | 627.71M | 330.99M |
| EBITDA | -3.99B | 2.80B | -6.38B | -8.42B | -1.93B |
| Net Income | -10.20B | 2.35B | -6.74B | -8.72B | -2.06B |
Balance Sheet | |||||
| Total Assets | 30.62B | 20.38B | 15.87B | 9.90B | 10.60B |
| Cash, Cash Equivalents and Short-Term Investments | 20.84B | 15.40B | 11.36B | 7.81B | 9.33B |
| Total Debt | 13.15B | 6.94B | 6.01B | 217.31M | 115.51M |
| Total Liabilities | 17.98B | 8.46B | 40.54B | 27.33B | 18.99B |
| Stockholders Equity | 12.64B | 11.91B | -24.67B | -17.44B | -8.39B |
Cash Flow | |||||
| Free Cash Flow | -2.81B | -894.31M | -2.20B | -2.11B | -1.34B |
| Operating Cash Flow | -2.11B | 17.60M | -1.74B | -1.56B | -1.11B |
| Investing Cash Flow | -4.93B | -1.93B | -667.29M | -214.51M | -1.38B |
| Financing Cash Flow | 12.11B | 5.82B | 7.22B | 212.41M | 6.30B |
Horizon Robotics Class B Technical Analysis
Negative
7.50
Price Trends
7.12
Negative
7.92
Negative
8.25
Negative
Market Momentum
-0.35
Positive
27.53
Positive
10.37
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9660, the sentiment is Negative. The current price of 7.5 is above the 20-day moving average (MA) of 6.92, above the 50-day MA of 7.12, and below the 200-day MA of 8.25, indicating a bearish trend. The MACD of -0.35 indicates Positive momentum. The RSI at 27.53 is Positive, neither overbought nor oversold. The STOCH value of 10.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9660.
Horizon Robotics Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | HK$65.31B | 6.88 | 3.68% | ― | 2.94% | ― | |
48 Neutral | HK$17.49B | ― | -2.00% | ― | 35.98% | 90.09% | |
43 Neutral | HK$76.60B | -41.50 | -7.19% | ― | 33.04% | 62.73% | |
43 Neutral | HK$2.61B | -10.66 | -18.49% | ― | 23.91% | 55.97% | |
42 Neutral | HK$86.01B | -5.53 | -89.49% | ― | 57.94% | -523.96% |
* Technology Sector Average
HK:9660
Horizon Robotics Class B
5.87
-1.94
-24.84%
HK:9698
GDS Holdings Ltd.
39.56
11.06
38.81%
HK:0020
SenseTime Group, Inc. Class B
1.81
0.41
29.29%
HK:2121
AInnovation Technology Group
4.64
-0.56
-10.77%
HK:2391
Tuya, Inc. Class A
16.17
-3.22
-16.63%
HK:6682
Beijing Fourth Paradigm Technology Co. Ltd. Class H
31.32
-16.13
-33.99%
Horizon Robotics Class B Corporate Events
Horizon Robotics Sets June 2026 Virtual AGM to Approve Accounts, Board Mandates
May 19, 2026
Horizon Robotics has called a virtual annual general meeting for June 10, 2026, where shareholders will review and adopt the company’s audited financial statements for the year ended December 31, 2025, and receive reports from directors and ...
Horizon Robotics Grants Over 59 Million Class B Share Awards Under Post-IPO Plan
Apr 24, 2026
Horizon Robotics has granted 59,202,600 share awards under its Post-IPO Share Incentive Plan to 1,073 employee and related-entity participants, with no purchase price for the underlying new Class B shares and a token acceptance fee of HK$1.00 per ...
Horizon Robotics Posts Surging Revenue but Deep Losses Amid Drive to Dominate China’s NOA Market
Mar 19, 2026
Horizon Robotics reported strong top-line growth in 2025 as revenue from contracts with customers jumped 57.7% year-on-year to RMB3.76 billion and gross profit rose 31.7%, but the group swung from a prior-year profit to a substantial net loss of R...
Horizon Robotics Sets March 19 Board Meeting and Earnings Call
Mar 5, 2026
Horizon Robotics has scheduled a board meeting for March 19, 2026 to review and approve the group’s consolidated annual results for the year ended December 31, 2025. The board will also consider the potential declaration of a final dividend,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.