Horizon Robotics' Volkswagen Partnership May Bring Billions More Yuan in Revenue

Dow Jones07-24

0359 GMT - Horizon Robotics' partnership with Volkswagen may bring billions more yuan in revenue for the Chinese company over the next few years, Daiwa analysts write in a note. Licenses for its AI foundation model and brain processing unit as well as algorithm and engineering services could be included in the revenue mix. Daiwa remains constructive on the company in the long term but cuts its 2026 to 2028 revenue forecast by 6%-18% and 2028 profit projection by 60%, citing softer-than-expected new-car demand in China and a tougher competitive market. Engineering and validation expenses from the partnership are likely to be front-loaded, the analysts note. Daiwa maintains a buy rating but lowers the target price to HK$6.30 from HK$10.60. Shares are last at HK$4.44. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

July 24, 2026 00:00 ET (04:00 GMT)

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Licenses for its AI foundation model and brain processing unit as well as algorithm and engineering services could be included in the revenue mix. Daiwa remains constructive on the company in the long term but cuts its 2026 to 2028 revenue forecast by 6%-18% and 2028 profit projection by 60%, citing softer-than-expected new-car demand in China and a tougher competitive market. Engineering and validation expenses from the partnership are likely to be front-loaded, the analysts note. Daiwa maintains a buy rating but lowers the target price to HK$6.30 from HK$10.60. Shares are last at HK$4.44. 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