CLSA Reiterates Outperform Rating on Horizon Robotics-W with HK$11 Target

Deep News04-25 10:52

CLSA has released a research report maintaining an "Outperform" rating on Horizon Robotics-W (09660) with a target price of HK$11. The report highlighted that during its annual product launch event, the company introduced the industry's first integrated cockpit and autonomous driving chip, named "Starry 6". The 6P version of this chip utilizes a 5-nanometer process and delivers a computing power of up to 650 TOPS.

Against the backdrop of rising memory prices, the Starry 6 chip is expected to help automakers save approximately RMB 1,500 to RMB 4,000 in costs per vehicle. The chip has already secured cooperation interest from over ten original equipment manufacturers (OEMs) and Tier-1 suppliers, with mass production scheduled to commence in the third quarter of this year.

Furthermore, the event also featured key updates to the company's intelligent driving solution, Horizon SuperDrive (HSD), which was upgraded to version 1.6. The intelligent agent operating system, KaKaClaw, was another focal point of the presentation. CLSA believes the market should acknowledge the company's progress in both chip and HSD sales.

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