- Horizon Robotics forecasts H1 net profit of RMB 3.5–4.0 billion, reversing last year’s RMB 5.233 billion loss.
- Revenue to rise 24.8%–34.5% to RMB 1.93–2.08 billion, with gross margin above 60%.
- Adjusted non‑IFRS results still show an H1 loss of RMB 1.4–1.7 billion, driven by ongoing R&D spend.
Horizon Robotics (09660.HK) on Tuesday released a profit forecast announcement on the HKEX, disclosing preliminary unaudited financial estimates for the six months ended June 30, 2026.
According to the announcement, revenue from continuing operations is expected to range between RMB 1.93 billion and RMB 2.08 billion ($285 million-$307 million) in the first half of 2026.
This represents year-on-year growth of 24.8% to 34.5% compared with RMB 1.546 billion ($228 million) in the same period last year.
Gross profit from continuing operations is expected to reach RMB 1.16 billion to RMB 1.37 billion ($171 million-$202 million), up 13.7% to 34.3% year on year.
Gross margin is expected to remain above 60%, reflecting continued improvement in product profitability.
Horizon Robotics said growth in continuing operations was mainly driven by two major revenue segments.
Revenue from product solutions increased as the company strengthened its market position and expanded its market share.
Meanwhile, its full-scenario urban Navigation on Autopilot (NOA) solution, Horizon SuperDrive️™ (HSD), has entered the stage of large-scale mass production deployment.
Revenue from licensing and services also recorded significant growth, mainly driven by the company’s strategy of opening its underlying technologies to a broad customer base, including BPU (Brain Processing Unit) technology, AI foundation models and related development toolchains.
On profitability, Horizon Robotics expects to record a net profit of RMB 3.5 billion to RMB 4 billion ($517 million-$591 million) in the first half of 2026, compared with a loss of RMB 5.233 billion ($772 million) during the same period in 2025, representing a significant turnaround.
The company said the reported profit was mainly attributable to fair value ($925 million) changes arising from convertible loans issued to CARIAD, Volkswagen Group’s software unit and Horizon Robotics’ joint venture partner, due to fluctuations in the company’s share price.
The gain is a non-cash accounting item primarily caused by share price movements and does not reflect changes in the company’s core operating performance or cash flow.
To better reflect underlying business performance, Horizon Robotics disclosed that its adjusted net loss under non-IFRS measures is expected to range between RMB 1.4 billion and RMB 1.7 billion ($207 million-$251 million).
This compares with an adjusted net loss of RMB 1.333 billion ($197 million) in the same period last year, indicating a slight expansion in operating losses.
The adjusted figures exclude expenses related to share-based payments, non-recurring costs associated with the company’s initial public offering and share placements, fair value changes of preferred shares and other financial liabilities, as well as gains from the deconsolidation of D-Robotics.
Regarding its current development phase, which continues to require significant investment in research and development while operating losses remain, Horizon Robotics said the company will continue technology upgrades and introduce new business initiatives in the second half of the year.
As of publication, Horizon Robotics shares were trading at HK$4.51 ($0.58), up 1.35%, with a market capitalization of approximately HK$65.718 billion ($8.4 billion).
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