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Reporter of China Business Network: Dong Tianyi Intern reporter of China Business Network: Liu Xi Editor of China Business Network: Sun Lei

Recently, the China Securities Regulatory Commission announced the registration notice for overseas issuance and listing of Horizon Robotics (hereinafter referred to as Horizon), marking that Horizon's Hong Kong IPO has officially been approved by the China Securities Regulatory Commission.

According to the information released by the China Securities Regulatory Commission, Horizon intends to issue no more than 1.15 billion overseas listed common shares and list them on the Hong Kong Stock Exchange. If Horizon fails to complete the overseas issuance and listing within 12 months from the date of issuance of this filing notice and intends to continue to advance, it shall update the filing materials.

It is reported that Horizon Robotics submitted its prospectus to the Hong Kong Stock Exchange in April this year, with Goldman Sachs, Morgan Stanley and China Securities International as joint sponsors. Regarding the above situation, the reporter of "Daily Economic News" contacted Horizon Robotics for information, but no response was received as of press time.

Intelligent driving business has high gross profit and high loss

The prospectus previously provided by Horizon Robotics shows that it was founded in July 2015 and is a supplier of advanced driver assistance systems (ADAS) and advanced autonomous driving (AD) solutions for passenger vehicles with proprietary software and hardware technologies.

Since its establishment in 2015, Horizon Robotics has completed 11 rounds of financing. Investors include SAIC Group, GAC Group, Great Wall Motors, BYD, FAW Group, Intel, 5Y Capital, Hillhouse Capital, Blackstone, CATL, etc., with a total financing of over US$3.4 billion (approximately RMB 24 billion). After completing a financing of US$210 million on December 28, 2023, its valuation was US$8.71 billion (equivalent to more than RMB 62.4 billion).