On June 23, HSBC Research issued a report noting that, despite Horizon Robotics' (09660.HK) current modest revenue scale, the company is poised to emerge as a pivotal player in the widespread adoption of autonomous driving in mainland China. Horizon offers a comprehensive suite of AI chips, algorithms, and autonomous driving software, which have already been integrated into over 40 automakers' offerings (including BYD, Geely, and Li Auto), spanning more than 310 vehicle models. HSBC Research has accorded the company a 'Buy' rating with a target price of HK$10.2.

The report projects that from 2025 to 2027, Horizon Robotics' annual revenue will experience a robust compound annual growth rate of 64%, with the company anticipated to attain profitability by 2028. While NVIDIA maintains a dominant position in China's high-end automotive market, Horizon Robotics, leveraging its competitive chip pricing, is expected to significantly expand its market share in the country, forecasted to rise from approximately 15% in 2024 to about 25% in 2027. Amidst current trade tensions, HSBC Research emphasizes that Horizon Robotics offers heightened supply chain security.