Movement Alert｜HORIZONROBOT-W Declines 3.1% in Regular Trading, Market Digests Share Dilution Pressure After CARIAD Settlement

On August 6, HORIZONROBOT-W fell 3.1% in regular trading, trading at HKD 5.015 per share, with turnover of HKD 424 million. The decline follows the completion of the amended convertible loan agreement with CARIAD, as the market digests dilution effects from the newly issued shares.

On August 3, HORIZONROBOT-W completed the settlement under its amended convertible loan agreement, issuing approximately 1.302 billion Class B ordinary shares to CARIAD at HKD 3.99 per share — representing a roughly 20% discount to the prevailing market price — while paying USD 399 million in cash. The newly issued shares account for approximately 8.93% of the company's total issued shares as of June 30. Post-settlement, CARIAD's stake is locked at 9.90% with a 12-month lock-up period. While the settlement eliminated uncertainty around the convertible loan and drove a 3.09% gain on August 5, the significant discount on the issuance price continues to weigh on sentiment.

Additionally, the company's projected H1 profit of RMB 3.5–4.0 billion is primarily attributable to fair value changes on the convertible loan rather than operational improvement, with adjusted net losses persisting at the operating level.

(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.)