Prior to the listing of Horizon Robotics, cornerstone investors such as Alibaba and Baidu subscribed for $220 million worth of shares
宋哥TY
发表于 前天 20:17
1182
0
0
Chinese autonomous driving technology company Horizon Robotics plans to list on the Hong Kong Stock Exchange on October 24th. On October 23rd, the stock closed up 36% in Hong Kong dark market trading.
Horizon Robotics plans to publicly raise HKD 5.4 billion (approximately USD 700 million) in the Hong Kong stock market, which will be the largest IPO in Hong Kong this year and one of the largest technology industry IPOs in recent years.
According to regulatory documents submitted by Horizon Robotics, its cornerstone investors, including Alibaba and Baidu, have subscribed for stocks worth approximately $220 million. Regulatory documents also show that the company sold 1.355 billion shares at a price range of HKD 3.73 to HKD 3.99 per share.
The enthusiasm of investors for subscribing to Horizon Robotics also reflects that the Hong Kong IPO market may show signs of activity after nearly two years of downturn. In the past month and a half, the Hang Seng Index has risen by about 20%.
Horizon Robotics was founded in 2015 by artificial intelligence scientist Yu Kai and others. Yu Kai previously worked at Baidu and played an important role in helping Baidu enter the field of autonomous driving. As of now, Horizon has not yet achieved profitability. From 2021 to the first half of 2024, Horizon suffered a total loss of over 20 billion yuan, mainly due to its high research and development capabilities.
A former business leader of a multinational car company who had close cooperation with Horizon Robotics told First Financial reporters, "It is difficult for these types of autonomous driving companies to make profits, and successfully going public is already the best outcome
In the past two years, the development of Horizon Robotics has also encountered setbacks, such as the star product "Journey 5" not even being highlighted in the prospectus. The prospectus of Horizon Robotics stated that the company's chips have been installed in 290 products, but the products installed in the car are mainly the first two generations of Journey 2 and Journey 3. The cooperation progress between Journey 5 and first tier suppliers is slow.
A relevant person from an autonomous driving technology company that did not use Horizon Robotics chips told First Financial reporters, "We have also evaluated the computing power of Journey 5, and found that the actual test results are quite different from what we imagined
In addition, Horizon is clearly dependent on major clients. The top five customers of the company accounted for nearly 80% of the total revenue in the first half of this year. Among them, one of the largest customers is Core Cheng, a joint venture established by Horizon and CARIAD, a software company of Volkswagen Group, which is mainly engaged in the research, development and manufacturing of automatic driving application software and auto drive system.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Top 20 US stock transactions: Chinese concept stocks generally rise, Alibaba and Pinduoduo both rise by over 10%
- Alibaba: Repurchase $4.1 billion worth of stocks in Q3
- Alibaba repurchased $4.1 billion worth of stocks in Q3
- New Sample of Digital Human Marketing! Alibaba Entertainment becomes Tmall Sports Outdoor Double 11 Promotion Ambassador
- SoftBank continues to reduce its stake in Alibaba to 10.93%
- Alibaba: Morgan Stanley increases holdings by approximately HKD 5.9 billion
- JPMorgan Chase is scrambling for funding! Increase holdings in Alibaba by HKD 5.9 billion
- JPMorgan Chase sings long and goes long: increases holdings in Alibaba by HKD 5.9 billion, claims platform interoperability could add over 20% more users to Taobao
- Alibaba International Station, as the only invited cross-border e-commerce platform, appeared at Sibos Annual Conference
- Alibaba repurchases 21000 shares with a total payment of $260000
-
10月23日、新東方は2025年度第1財季(2024年6月1日から8月31日)の財報を発表した。特筆すべきは、董宇輝が新東方を去った後、東方が選んだ初の季報だ。その中で、新東方はわざわざ東方が自社製品をオーディション ...
- 什么大师特
- 1 小时前
- 支持
- 反对
- 回复
- 收藏
-
国内の革新的な薬企業がまた1発の深水爆弾を爆発させた。 10月25日、国内革新薬企業「一兄」百済神州大中華区の殷敏首席商務官が規制当局の調査を受けていることがメディアに暴露され、業界関係者がメディアにこの ...
- 刘moon
- 2 小时前
- 支持
- 反对
- 回复
- 收藏
-
米国疾病管理・予防センターはこのほど、マクドナルドの「足三両」バーガーが同国西部の大腸菌疫病の発生と関係があり、49人が病気になり、1人が死亡したと明らかにした。マクドナルドは声明を発表し、大腸菌の疫病 ...
- SOHU
- 前天 09:34
- 支持
- 反对
- 回复
- 收藏
-
10月24日、テスラ米株式市場は12%以上上昇し、第3四半期の利益は予想を上回った。マースク氏は来年の自動車販売台数が20%-30%増加すると予測している。 ...
- 就放荡不羁就h
- 昨天 17:35
- 支持
- 反对
- 回复
- 收藏