Horizon Robotics-W has provided its full-year performance expectations. As of March 1, 2026, according to quarterly performance forecast data from a financial data provider, the company anticipates revenue to be in the range of 3.27 billion to 3.82 billion yuan, representing a year-on-year increase of 37.1% to 60.1%. It forecasts a net loss between 7.03 billion and 1.84 billion yuan, and an adjusted net loss between 3.00 billion and 2.29 billion yuan. Investors are advised to monitor whether subsequent financial results exceed these expectations, as the quarterly performance data can serve as a reference for performance evaluation.
Regarding the latest analyst perspective, China Post Securities notes that cumulative shipments of Horizon Robotics-W's Journey series intelligent computing solutions have surpassed 10 million units, marking the company's leading position in the smart automotive sector. Its self-developed BPU computing architecture has undergone three generations of iteration, with significant performance improvements. The Journey 6 series, based on the Nash architecture, covers a wide range of computing power needs, catering to diverse requirements from L2 to full-scenario urban assisted driving. The Journey series has collaborated with over 40 automakers, covering more than 400 vehicle models and serving over 6 million car owners. The HSD technology has gained market recognition; utilizing an end-to-end architecture and reinforcement learning capabilities, it enhances assisted driving performance. The new flagship solution, Journey 6P, supports large-scale deployment of HSD with a computing power of 560 TOPS and has already secured partnerships with 10 automotive brands. As multiple collaborative vehicle models are launched, HSD is expected to cover more markets and enter mass production.
Breaking down by business segment: 1) Journey Series Intelligent Computing Solutions: Cumulative shipments have exceeded 10 million units, with collaborations involving over 40 automakers, covering more than 400 vehicle models, and serving over 6 million car owners. 2) HSD Technology: This technology uses an end-to-end architecture and reinforcement learning to improve assisted driving performance. It has secured partnerships with 10 automotive brands, covering more than 20 vehicle models. 3) Journey 6P: This new flagship automotive intelligent computing solution supports the large-scale implementation of HSD with a computing power of 560 TOPS.
Haitong International Securities highlights that Horizon Robotics-W is jointly developing an L3-level intelligent driving system for the Chinese market with ZF Group, with mass production expected by 2026. ZF will provide the ProAI platform and system-level architecture design, while Horizon will supply the Journey 6P chip and software algorithm stack. This collaboration strengthens Horizon's capabilities in algorithm adaptation and execution coordination for system-level applications, with the J6P chip's performance having passed validation against international Tier-1 integration standards. Horizon is poised to leverage ZF's global network to expand its overseas customer base, with overseas revenue projected to account for approximately 10% by 2027.
Investment risks include market volatility, company performance, and policy factors, which may all lead to stock price fluctuations. Investors should fully understand relevant information and make decisions based on their own risk tolerance.
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