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<Research>DBS Adds HORIZONROBOT-W (09660.HK) TP to $11.5, Rating Buy
Recommend 16 Positive 33 Negative 3 |
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DBS Group Research issued a research report on HORIZONROBOT-W (09660.HK), which reported a 68% YoY surge in revenue to RMB1.6 billion in 1H25, beating street consensus by 10%. R&D expenses escalated to RMB2.3 billion, growing 62% YoY, exerting pressure on margins. The adjusted net loss for 1H25 expanded by 66% YoY to RMB1.3 billion. The broker maintained its delivery target of 4 million units for this fiscal year. The high-end solution, Horizon Superdrive, will begin mass production in 4Q25 to boost sales. The broker raised its revenue forecast for 2025 and 2026 by 22% each, and expected revenues to reach RMB3.7 billion and RMB6 billion, representing YoY hikes of 55% and 63%, respectively. The target price was lifted from HKD10.4 to HKD11.5, with a Buy rating. The broker foresaw the company to solidify its position as the leading player in the Mainland's autonomous driving solutions industry by the end of this year. AASTOCKS Financial News Website: www.aastocks.com |
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