Movement Alert｜HORIZONROBOT-W Rises 3.09% in Regular Trading, CARIAD Convertible Loan Agreement Settlement Completed Eliminating Equity Uncertainty

Market Focus08-05

On August 5, HORIZONROBOT-W rose 3.09% in regular trading, trading at HK$5.29/share, with turnover of HK$95.45 million.

On the news front, the company announced on August 3 that it had completed the settlement of its Amended Convertible Loan Agreement with CARIAD. Under the terms, HORIZONROBOT-W issued approximately 1.302 billion Class B ordinary shares to CARIAD at HK$3.99 per share, while simultaneously paying US$399 million in cash. All rights and obligations under the original convertible loan agreement have been fully terminated. Post-settlement, CARIAD's shareholding is locked at 9.90%, subject to a 12-month lock-up period.

The transaction resolves a longstanding overhang related to the convertible loan's equity dilution uncertainty. The company had previously issued US$450 million in zero-coupon convertible bonds maturing in 2027 to fund the cash portion of the settlement. Multiple brokerages, including Goldman Sachs and CMBI, have maintained Buy ratings, citing improved equity structure clarity and accelerating commercialization of the company's Horizon SuperDrive autonomous driving solution.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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