CLSA Maintains Outperform Rating on Horizon Robotics-W, Expects Market to Applaud Product Milestones

Stock News04-23

CLSA has issued a research report stating that Horizon Robotics-W (09660) introduced the industry's first integrated cockpit and autonomous driving chip, "Starry 6," at its annual product launch. The 6P version of the chip utilizes a 5-nanometer process and delivers a computing power of 650 TOPS. Against the backdrop of rising memory prices, the Starry 6 chip is expected to save automakers between RMB 1,500 and RMB 4,000 per vehicle. The firm has maintained its "Outperform" rating on Horizon Robotics with a target price of HK$11. The chip has already secured cooperation intent from over ten original equipment manufacturers and Tier-1 suppliers, with mass production scheduled to begin in the third quarter of this year. Additionally, the upgraded version 1.6 of the intelligent driving solution Horizon SuperDrive (HSD) and the intelligent agent operating system KaKaClaw were also highlighted at the event. The report suggests that the market should recognize the company's progress in both chip and HSD sales.

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